0001808834-25-000009 | 10-K | XBRL Viewer

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LEASES - Narrative (Details)	Dec. 31, 2024
Minimum
Lessee, Lease, Description [Line Items]
Term of contract (in years)	3 years
Maximum
Lessee, Lease, Description [Line Items]
Term of contract (in years)	5 years

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Prepaid Expenses	$ 38,621	$ 17,768
Prepaid Lease Merchandise	12,540	9,944
Prepaid Software Expenses	9,908	8,624
Unamortized Initial Direct Costs on Lease Agreement Originations	7,883	7,192
Other Assets	9,278	7,183
Prepaid Expenses and Other Assets	$ 78,230	$ 50,711

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense for property and equipment	$ 9.1	$ 9.3	$ 11.0
Amortization expense	17.9	22.7	22.9
Computer Software, Intangible Asset
Property, Plant and Equipment [Line Items]
Amortization expense	$ 6.8	$ 5.4	$ 5.5
Minimum \| Building and Building Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum \| Other Depreciable Property and Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	1 year
Minimum \| Computer Software, Intangible Asset
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum \| Software Updates
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	1 month
Maximum \| Building and Building Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	12 years
Maximum \| Other Depreciable Property and Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years
Maximum \| Computer Software, Intangible Asset
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Maximum \| Software Updates
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 months

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

The following is a summary of the Company's property and equipment:


	December 31,
(In Thousands)	2024		2023
Leasehold Improvements	$	5,808	$	10,910
Fixtures, Equipment and Vehicles	29,949		33,771
Internal-Use Software	46,474		39,792
Internal-Use Software - In Development	846		1,057
Property and Equipment, Gross	83,077		85,530
Less: Accumulated Depreciation and Amortization1	(61,634)		(61,426)
Property and Equipment, Net	$	21,443	$	24,104

1Accumulated amortization of internal-use software development costs amounted to $29.2 million and $23.1 million as of December 31, 2024 and 2023, respectively.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS:
Cash and Cash Equivalents	$ 95,655	$ 155,416
Accounts Receivable (net of allowances of $71,607 in 2024 and $64,180 in 2023)	80,225	67,879
Lease Merchandise (net of accumulated depreciation and allowances of $440,831 in 2024 and $423,466 in 2023)	680,242	633,427
Loans Receivable (net of allowances and unamortized fees of $57,342 in 2024 and $50,022 in 2023)	146,985	126,823
Property and Equipment, Net	21,443	24,104
Operating Lease Right-of-Use Assets	4,035	9,271
Goodwill	296,061	296,061
Other Intangibles, Net	73,775	91,664
Income Tax Receivable	10,644	32,918
Deferred Income Tax Assets	26,472	2,981
Prepaid Expenses and Other Assets	78,230	50,711
Total Assets	1,513,767	1,491,255
LIABILITIES & SHAREHOLDERS' EQUITY:
Accounts Payable and Accrued Expenses	93,190	151,259
Deferred Income Tax Liabilities	74,320	104,838
Customer Deposits and Advance Payments	40,917	35,713
Operating Lease Liabilities	11,496	15,849
Debt, Net	643,563	592,265
Total Liabilities	863,486	899,924
Commitments and Contingencies (Note 9)
Shareholders' Equity:
Common Stock, Par Value $0.50 Per Share: Authorized: 225,000,000 Shares at December 31, 2024 and 2023; Shares Issued: 82,078,654 at December 31, 2024 and 2023	41,039	41,039
Additional Paid-in Capital	358,538	352,421
Retained Earnings	1,469,450	1,293,073
Total Stockholders' Equity before Treasury Stock	1,869,027	1,686,533
Less: Treasury Shares at Cost
Common Stock: 41,262,901 Shares at December 31, 2024 and 38,404,527 at December 31, 2023	(1,218,746)	(1,095,202)
Total Shareholders' Equity	650,281	591,331
Total Liabilities & Shareholders' Equity	$ 1,513,767	$ 1,491,255

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical)	12 Months Ended
	Dec. 31, 2024 $ / shares
Statement of Stockholders' Equity [Abstract]
Cash Dividends, per share (in dollars per share)	$ 0.48

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

The following is a summary of the Company's property and equipment:


	December 31,
(In Thousands)	2024		2023
Leasehold Improvements	$	5,808	$	10,910
Fixtures, Equipment and Vehicles	29,949		33,771
Internal-Use Software	46,474		39,792
Internal-Use Software - In Development	846		1,057
Property and Equipment, Gross	83,077		85,530
Less: Accumulated Depreciation and Amortization1	(61,634)		(61,426)
Property and Equipment, Net	$	21,443	$	24,104

1Accumulated amortization of internal-use software development costs amounted to $29.2 million and $23.1 million as of December 31, 2024 and 2023, respectively.

INCOME TAXES - Schedule of Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current Income Tax (Benefit) Expense:
Federal	$ 20,261	$ 77,412	$ 46,579
State	108	12,420	12,155
Current income tax (benefit) expense	20,369	89,832	58,734
Deferred Income Tax (Benefit) Expense:
Federal	(49,973)	(32,612)	(10,696)
State	(4,037)	163	1,497
Deferred income tax (benefit) expense	(54,010)	(32,449)	(9,199)
Income Tax (Benefit) Expense	$ (33,641)	$ 57,383	$ 49,535

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Dec. 31, 2024
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Share repurchases are conducted under authorizations made from time to time by the Company's Board of Directors. The authorization effective November 3, 2021 provided the Company with the ability to repurchase shares up to a maximum amount of $1 billion. On February 21, 2024, the Company's Board of Directors reauthorized the repurchase of Company common stock at an aggregate purchase price of up to $500 million under the Company's existing share repurchase program, with such reauthorized share repurchase program to be extended for a period of three years from February 21, 2024, or until the $500 million aggregate purchase price of Company common stock purchased pursuant to the reauthorized share repurchase program has been met, whichever occurs first. At December 31, 2024, the Company held 41,262,901 shares in its treasury and had the authority to purchase additional shares up to its remaining authorization limit of $361.3 million. In 2024, the Company repurchased 3,480,871 shares of its common stock for $138.7 million. During 2023, the Company repurchased 4,691,274 shares of its common stock for $139.6 million. During 2022, the Company repurchased 8,720,223 shares of its common stock for $223.6 million. These amounts do not include any excise tax that may be assessed on those repurchases. The holders of common stock are entitled to receive dividends and other distributions in cash or stock of the Company as and when declared by the Company's Board of Directors out of legally available funds. Certain unvested time-based restricted stock units issued by the Company also entitle participants to accrue dividends during the vesting period. The Company has 1,000,000 shares of preferred stock authorized. The shares are issuable in series with terms for each series fixed by, and such issuance subject to approval by, the Board of Directors. As of December 31, 2024, no preferred shares have been issued.

- Definition

The entire disclosure for equity.

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+ Details

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

COMPENSATION ARRANGEMENTS - Deferred Compensation (Details) - Deferred Compensation Plan - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2018	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Deferred compensation plan liability		$ 3,000	$ 2,500
Value of assets within the rabbi trust		$ 2,900	2,600
Employee
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Receipt of base compensation, incentive pay compensation and cash director fees (up to) (as percent)		75.00%
Maximum contribution per employee (as percent)	4.00%
Maximum annual contributions per employee		$ 13,800	$ 13,200	$ 12,200
Vesting period (in years)	3 years
Employee \| First Contribution
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Employer matching contribution, maximum (as percent)	100.00%
Maximum contribution per employee (as percent)	3.00%
Employee \| Second Contribution
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Employer matching contribution, maximum (as percent)	50.00%
Maximum contribution per employee (as percent)	2.00%
Non Employee Director
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Receipt of base compensation, incentive pay compensation and cash director fees (up to) (as percent)		100.00%

STOCK-BASED COMPENSATION - Schedule of Weighted-Average Fair Value of Options Granted and Assumptions Used in Black-Scholes-Merton Option Pricing Model (Details) - Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend Yield	0.00%	0.00%
Expected Volatility	51.60%	43.00%
Risk-free Interest Rate	4.30%	1.50%
Expected Term (in years)	4 years 6 months	4 years 6 months
Weighted-average Fair Value of Stock Options Granted (in dollars per share)	$ 11.66	$ 10.89

- 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.

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+ Details

FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis

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


	December 31, 2024						December 31, 2023
(In Thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Deferred Compensation Liability	$	—	$	2,971	$	—	$	—	$	2,487	$	—

Schedule of Fair Value of Company's Debt and Loans Receivable

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


	December 31, 2024						December 31, 2023
(In Thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Senior Notes	$	—	$	573,720	$	—	$	—	$	559,500	$	—
Loans Receivable, Net	$	—	$	—	$	172,892	$	—	$	—	$	148,466

RESTRUCTURING EXPENSES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring expenses	$ 22,691	$ 12,533	$ 9,001	$ 44,200

INCOME TAXES - Schedule of Effective Tax Rate Differs from Statutory United States Federal Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Statutory Rate	21.00%	21.00%	21.00%
Increases (Decreases) in United States Federal Taxes
State Income Taxes, Net of Federal Income Tax Benefit	5.30%	4.90%	5.00%
Non-deductible Goodwill Impairment	0.00%	0.00%	1.40%
Other Permanent Differences	0.80%	0.30%	0.60%
Deferred Tax Adjustments	0.30%	1.10%	0.70%
Partnership Deemed Liquidation	(16.90%)	0.00%	0.00%
Valuation Allowance	(0.30%)	0.00%	2.20%
Current Uncertain Tax Position Expense	(32.90%)	1.90%	2.20%
Shortfall in Stock-based Compensation	0.60%	0.40%	1.00%
Other, Net	1.50%	(0.40%)	(0.70%)
Effective Tax Rate	(20.60%)	29.20%	33.40%

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other Intangibles (Details) - USD ($)	Oct. 01, 2024	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangibles	$ 0
Vive Acquisition \| Technology
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles (in years)		5 years
Progressive Leasing and Four acquisitions \| Technology
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles (in years)		2 years
Progressive Leasing and Four acquisitions \| Merchant Relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives of intangibles (in years)		12 years

- 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

LEASES - Schedule of Reconciliation of Future Undiscounted Cash Flows to Present Value of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2025	$ 4,641
2026	4,179
2027	2,948
2028	163
2029	0
Thereafter	0
Total Undiscounted Cash Flows	11,931
Less: Interest	(435)
Present Value of Lease Liabilities	$ 11,496	$ 15,849

LOANS RECEIVABLE - Schedule of Credit Quality Indicators of Amortized Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 48,355
2023 and Prior	0
Revolving Loans	146,413
Loans Receivable, Amortized Cost	194,768	$ 167,443
2024	10,635
2023 and Prior	3,018
Revolving Loans	42,852
Notes receivable gross charge-off	56,505	$ 48,206
Category A
Financing Receivable, Credit Quality Indicator [Line Items]
2024	11,596
2023 and Prior	0
Revolving Loans	0
Loans Receivable, Amortized Cost	11,596
Category B
Financing Receivable, Credit Quality Indicator [Line Items]
2024	20,981
2023 and Prior	0
Revolving Loans	0
Loans Receivable, Amortized Cost	20,981
Category C
Financing Receivable, Credit Quality Indicator [Line Items]
2024	10,550
2023 and Prior	0
Revolving Loans	0
Loans Receivable, Amortized Cost	10,550
600 or Less
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023 and Prior	0
Revolving Loans	15,118
Loans Receivable, Amortized Cost	15,118
Between 600 and 700
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023 and Prior	0
Revolving Loans	112,605
Loans Receivable, Amortized Cost	112,605
700 or Greater
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023 and Prior	0
Revolving Loans	18,690
Loans Receivable, Amortized Cost	18,690
No Score Identified
Financing Receivable, Credit Quality Indicator [Line Items]
2024	5,228
2023 and Prior	0
Revolving Loans	0
Loans Receivable, Amortized Cost	$ 5,228

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 16,001
2026	4,774
2027	0
2028	0
2029	$ 0

LOANS RECEIVABLE - Schedule of Company’s Loans Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans Receivable, Gross	$ 204,327	$ 176,845
Unamortized Fees	(9,559)	(9,402)
Loans Receivable, Amortized Cost	194,768	167,443
Allowance for Loan Losses	(47,783)	(40,620)	$ (42,428)
Loans Receivable, Net of Allowances and Unamortized Fees	146,985	126,823
Four Technologies, Inc.
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans Receivable, Net of Allowances and Unamortized Fees	$ 34,900	$ 13,900

- 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/disclosureRef
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+ Details

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Indefinite-Lived Intangible Assets

The following table summarizes information related to indefinite-lived intangible assets at December 31:


	December 31,
(In Thousands)	2024		2023
Trade Name	$	53,000	$	53,000
Goodwill	296,061		296,061
Indefinite-lived Intangible Assets	$	349,061	$	349,061

The following table provides information related to the carrying amount of the Company's goodwill by reporting unit:


(In Thousands)	Progressive Leasing		Four		Total
Balance at January 1, 2022	$	288,801	$	17,411	$	306,212
Impairment of Goodwill1	—		(10,151)		(10,151)
Balance at December 1, 2022	288,801		7,260		296,061
Changes to Goodwill	—		—		—
Balance at December 31, 2023	288,801		7,260		296,061
Changes to Goodwill	—		—		—
Balance at December 31, 2024	$	288,801	$	7,260	$	296,061

1 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. For further details regarding the impairment, see Note 1.

Definite-Lived Intangible Assets

The following table summarizes information related to definite-lived intangible assets at December 31:


	2024						2023
(In Thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Acquired Internal-Use Software	$	14,000	$	(14,000)	$	—	$	14,000	$	(14,000)	$	—
Technology	72,550		(71,350)		1,200		72,550		(68,662)		3,888
Merchant Relationships	181,586		(162,187)		19,399		181,586		(147,104)		34,482
Other Intangibles1	587		(411)		176		587		(293)		294
Total	$	268,723	$	(247,948)	$	20,775	$	268,723	$	(230,059)	$	38,664

1 Other intangibles consists of the Four trade name.

Total amortization expense of definite-lived intangible assets included in operating expenses in the accompanying consolidated statements of earnings was $17.9 million, $22.7 million and $22.9 million during the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, estimated future amortization expense for the next five years related to definite-lived intangible assets is as follows:


(In Thousands)
2025	$	16,001
2026	4,774
2027	—
2028	—
2029	—

LOANS RECEIVABLE - Schedule of Aging of the Loans Receivable Gross Balance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	16.40%	16.50%
Current Loans Receivable	83.60%	83.50%
Balance of Credit Card Loans on Nonaccrual Status	$ 4,793	$ 4,482
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	7.70%	7.30%
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	3.80%	3.80%
90 or More Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	4.90%	5.40%

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Description of Plans

The Company grants stock options, RSUs, RSAs and PSUs to certain employees and directors of the Company under the 2015 Equity and Incentive Award Plan (the "2015 Plan"). The 2015 Plan was originally approved by the Company's shareholders in May 2015 and was amended and restated with shareholder approval in February 2019. In May 2021, the 2015 Plan was amended, with shareholder approval, to increase the number of shares of common stock authorized for issuance under the 2015 Plan from 8,000,000 shares to 10,980,000 shares. Beginning in 2015, as part of the Company's long-term incentive compensation program ("LTIP Plan") and pursuant to the Company's 2015 Plan, the Company granted a mix of stock options, time-based restricted stock and performance share units to key executives and managers and also granted time-based restricted stock units to directors of the Company. As of December 31, 2024, the aggregate number of common stock shares that may be issued or transferred under the 2015 Plan is 3,285,467.

Stock-based Compensation Expense

The Company has elected a policy to estimate forfeitures in determining the amount of stock compensation expense. Total stock-based compensation expense was $29.2 million, $24.9 million and $17.5 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The total income tax benefit recognized in the consolidated statements of earnings for stock-based compensation arrangements was $7.3 million, $6.2 million and $5.9 million in the years ended December 31, 2024, 2023 and 2022, respectively. Deficits of recognized compensation costs in excess of tax deductions were $0.1 million, $0.4 million and $1.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. Deficits and benefits related to tax deductions for compensation cost are included in operating cash flows and as a component of income tax (benefit) expense in the consolidated statements of earnings.

As of December 31, 2024, there was $27.9 million of total unrecognized compensation expense related to non-vested stock-based compensation of directors and employees of PROG Holdings, which is expected to be recognized over an average period of 1.39 years.

Stock Options

Under the Company's 2015 Plan, options granted to date become exercisable after a period of one to three years and unexercised options lapse 10 years after the date of the grant. Unvested options are subject to forfeiture upon termination of service for both plans. The Company recognizes compensation expense for options that have a graded vesting schedule on a straight-line basis over the requisite service period. Shares are issued from the Company's treasury shares upon share option exercises.

The Company determines the fair value of stock options on the grant date using a Black-Scholes-Merton option pricing model that incorporates expected volatility, expected option life, risk-free interest rates and expected dividend yields. The expected volatility is based on implied volatilities from traded options on the Company's stock and the historical volatility of the Company's common stock in combination with the volatility of the Company's comparable peer group for the most recent period generally commensurate with the expected estimated life of each respective grant. The expected lives of options are based on the Company's historical option exercise experience. The Company believes that the historical experience method is the best estimate of future exercise patterns. The risk-free interest rates are determined using the implied yield available for zero-coupon United States government issues with a remaining term equal to the expected life of the grant. The expected dividend yields are based on the approved annual dividend rate in effect and the market price of the underlying common stock at the time of grant. For stock options granted in 2023 and 2022, the annual dividend rate was assumed to be zero, and no assumption for a future dividend rate was included, as the Company did not anticipate paying any dividends at the time of grant.

The Company did not grant any stock options during 2024. The Company granted 208,000 and 264,000 stock options during the years ended December 31, 2023 and 2022, respectively. The weighted-average fair value of options granted and the weighted-average assumptions used in the Black-Scholes-Merton option pricing model for such grants were as follows:


	2023			2022
Dividend Yield	—		%	—		%
Expected Volatility	51.6		%	43.0		%
Risk-free Interest Rate	4.3		%	1.5		%
Expected Term (in years)	4.5			4.5
Weighted-average Fair Value of Stock Options Granted	$	11.66		$	10.89

The following table summarizes information about stock options outstanding at December 31, 2024:


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding December 31, 2024	Weighted Average Remaining Contractual Life (in Years)	Weighted Average Exercise Price		Number Exercisable December 31, 2024	Weighted Average Exercise Price
$20.00-30.00	497,680	6.61	$	26.38	292,571	$	26.44
30.01-40.00	88,344	5.17	34.78		88,344	34.78
40.01-50.00	255,495	4.79	46.70		255,495	46.70
50.01-60.00	5,304	6.34	53.55		5,304	53.55
20.00-60.00	846,823	5.91	33.55		641,714	35.88

The table below summarizes option activity for the year ended December 31, 2024:


	Options (In Thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Thousands)		Weighted Average Fair Value
Outstanding at January 1, 2024	914	$	33.25

Forfeited/Expired	(12)	44.14
Exercised	(55)	25.96
Outstanding at December 31, 2024	847	33.55		5.91	$	8,566	$	12.68
Expected to Vest	204	26.30		7.81	3,254		11.38
Exercisable at December 31, 2024	642	35.88		5.30	5,290		13.09

The aggregate intrinsic value amounts in the table above represent the closing price of the Company's common stock on December 31, 2024 in excess of the exercise price, multiplied by the number of in-the-money stock options as of that same date. Options outstanding that are expected to vest are net of estimated future option forfeitures.

The aggregate intrinsic value of options exercised, which represents the value of the Company's common stock at the time of exercise in excess of the exercise price, was $0.9 million and $0.1 million during the years ended December 31, 2024 and 2023, respectively. The total grant-date fair value of options exercised was $0.4 million and $0.1 million during the years ended December 31, 2024 and 2023, respectively. There were no options exercised during 2022.

Restricted Stock

Restricted stock units or restricted stock awards (collectively, "restricted stock") may be granted to employees and directors under the 2015 Plan and typically vest over approximately one to three-year periods. Restricted stock grants are settled in stock and may be subject to one or more objective employment, performance or other forfeiture conditions as established at the time of grant. The Company recognizes compensation expense for restricted stock with a graded vesting schedule on a straight-line basis over the requisite service period as restricted stock is not subject to Company performance metrics. Shares are issued from the Company's treasury shares upon vesting. Any shares of restricted stock that are forfeited may again become available for issuance.

The fair value of restricted stock is generally based on the fair market value of the Company's common stock on the date of grant.

The Company granted 646,000, 574,000 and 630,000 shares of restricted stock at weighted-average fair values of $30.67, $25.69 and $26.05 in the years ended December 31, 2024, 2023 and 2022, respectively. The following table summarizes information about restricted stock activity during 2024:


	Restricted Stock (In Thousands)	Weighted Average Fair Value
Non-vested at January 1, 2024	1,180	$	31.47
Granted	646	30.67
Forfeited	(89)	27.07
Vested	(593)	36.05
Non-vested at December 31, 2024	1,144	28.98

The total vest-date fair value of restricted stock described above that vested during the year was $19.2 million, $8.4 million and $3.9 million in the years ended December 31, 2024, 2023 and 2022, respectively.

Performance Share Units

For performance share units, which are settled in stock, the number of shares earned is determined at the end of the one to three-year performance periods based upon achievement of specified performance conditions. The performance criteria vary by agreement and have included the following performance conditions: (i) adjusted pre-tax profit, (ii) return on investment capital, (iii) consolidated revenues, (iv) segment or business unit revenues, (v) certain business development and technology initiatives, (vi) business unit customer count, (vii) business unit enterprise value, (viii) adjusted EBITDA and/or (ix) the Company's total shareholder return ("TSR") relative to the TSR of the S&P 600 Small Cap Index. When the performance criteria are met, the award is earned and vests assuming continued employment through the specified service period(s). Shares are issued from the Company's treasury shares upon vesting. The number of performance-based shares which could potentially be issued ranges from 0% up to a maximum of 100%, 200%, or 400% of the target award depending on the specified terms and conditions of the target award.

The fair value of performance share units that have only a service and performance condition(s) is based on the fair market value of the Company's common stock on the date of grant. The compensation expense associated with these awards is amortized on an accelerated basis over the vesting period based on the Company's projected assessment of the level of performance that will be achieved and earned. In the event the Company determines it is no longer probable that the minimum performance criteria specified in the plan will be achieved, all previously recognized compensation expense is reversed in the period such a determination is made. The TSR performance condition is a market condition. Therefore, a Monte Carlo simulation model was used to determine the fair value of those awards. The fair value and compensation expense of awards which vest based on the TSR performance is fixed at the measurement date and is not revised based on actual performance during the vesting period.

The table below summarizes the assumptions used in the fair value calculation of the TSR awards, which were granted beginning in 2024:


	2024
Expected Volatility	53.2	%
Risk-Free Rate of Interest	4.4	%
Expected Dividend Yield	1.6	%
Performance Period (Years)	2.84

The expected volatility was based on the historical volatility of the Company's stock. The risk-free rate of interest was based on the U.S. Treasury yield curve for the period that is commensurate with the expected life at the time of grant. The expected annual dividend yield was based on the most recently declared quarterly dividend at the time of the grant.

The following table summarizes information about performance share unit activity during 2024:


	Performance Share Units (In Thousands)	Weighted Average Fair Value
Non-vested at January 1, 2024	750	$	36.38
Granted	464	33.11
Forfeited	(51)	30.98
Vested	(222)	31.20
Performance Factor Adjustment	(205)	44.64
Non-vested at December 31, 2024	736	30.54

The total vest-date fair value of performance share units described above that vested during the period was $7.7 million, $2.2 million and $4.1 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Employee Stock Purchase Plan

Effective May 9, 2018, the Company's Board of Directors and shareholders approved the Employee Stock Purchase Plan ("ESPP"), which is a tax-qualified plan under Section 423 of the Internal Revenue Code. The purpose of the Company's ESPP is to encourage ownership of the Company's common stock by eligible employees of PROG Holdings, Inc. and certain subsidiaries. Under the ESPP, eligible employees are allowed to purchase common stock of the Company during six-month offering periods at the lower of: (i) 85% of the closing trading price per share of the common stock on the first trading date of an offering period in which a participant is enrolled; or (ii) 85% of the closing trading price per share of the common stock on the last day of an offering period. Employees participating in the ESPP can contribute up to an amount not exceeding 10% of their base salary and wages up to an annual maximum of $25,000 in total fair market value of the common stock (determined at the time the ability to purchase shares of common stock is granted) and may not purchase more than 500 shares in each offering period.

The compensation cost related to the ESPP is measured on the grant date based on eligible employees' expected withholdings and is recognized over each six-month offering period. Total compensation cost recognized in connection with the ESPP was $0.3 million, $0.4 million and $0.4 million for years ended December 31, 2024, 2023 and 2022, respectively.

The Company issued 44,811, 67,720 and 81,784 shares under the ESPP at weighted average purchase prices of $27.56, $18.72 and $14.06 during the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, the aggregate number of shares of common stock that may be issued under the ESPP was 342,955.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Treasury Stock	Common Stock	Additional Paid-in Capital	Retained Earnings
Beginning Balance (in shares) at Dec. 31, 2021		(25,638,000)
Beginning Balance at Dec. 31, 2021	$ 679,408	$ (749,401)	$ 41,039	$ 332,244	$ 1,055,526
Beginning Balance (in shares) at Dec. 31, 2021			82,079,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-Based Compensation	17,694			17,694
Reissued Shares (in shares)		314,000
Reissued Shares	(1,752)	$ 9,372		(11,124)
Repurchased Shares (in shares)		(8,720,000)
Repurchased Shares	(223,598)	$ (223,598)
Net Earnings	98,709				98,709
Ending Balance (in shares) at Dec. 31, 2022		(34,044,000)
Ending Balance at Dec. 31, 2022	570,461	$ (963,627)	$ 41,039	338,814	1,154,235
Ending Balance (in shares) at Dec. 31, 2022			82,079,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-Based Compensation	25,152			25,152
Reissued Shares (in shares)		330,000
Reissued Shares	(2,265)	$ 9,280		(11,545)
Repurchased Shares (in shares)		(4,691,000)
Repurchased Shares	(140,855)	$ (140,855)
Net Earnings	$ 138,838				138,838
Ending Balance (in shares) at Dec. 31, 2023	(38,404,527)	(38,405,000)
Ending Balance at Dec. 31, 2023	$ 591,331	$ (1,095,202)	$ 41,039	352,421	1,293,073
Ending Balance (in shares) at Dec. 31, 2023			82,079,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cah Dividends	(20,872)				(20,872)
Stock-Based Compensation	29,597			29,597
Reissued Shares (in shares)		623,000
Reissued Shares	(7,297)	$ 16,183		(23,480)
Repurchased Shares (in shares)		(3,481,000)
Repurchased Shares	(139,727)	$ (139,727)
Net Earnings	$ 197,249				197,249
Ending Balance (in shares) at Dec. 31, 2024	(41,262,901)	(41,263,000)
Ending Balance at Dec. 31, 2024	$ 650,281	$ (1,218,746)	$ 41,039	$ 358,538	$ 1,469,450
Ending Balance (in shares) at Dec. 31, 2024			82,079,000

RESTRUCTURING EXPENSES - Schedule of Restructuring Charges Recorded within Operating Expenses (Details) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	$ 22,691	$ 12,533	$ 9,001	$ 44,200
Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	18,210	12,533	8,343
Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	1,853		658
Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	2,628
Severance
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	6,734	2,958	5,611
Severance \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	4,253	2,958	5,611
Severance \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	1,853		0
Severance \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	628
Right-of-Use Asset Impairment
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	4,515	0	2,940
Right-of-Use Asset Impairment \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	4,515	0	2,285
Right-of-Use Asset Impairment \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0		655
Right-of-Use Asset Impairment \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0
Property and Equipment Impairment
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	1,503	0	312
Property and Equipment Impairment \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	1,503	0	309
Property and Equipment Impairment \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0		3
Property and Equipment Impairment \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0
Early Contract Termination Costs
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	9,750	9,575	0
Early Contract Termination Costs \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	7,750	9,575	0
Early Contract Termination Costs \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0		0
Early Contract Termination Costs \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	2,000
Other Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	189	0	138
Other Restructuring Activities \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	189	$ 0	138
Other Restructuring Activities \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0		$ 0
Other Restructuring Activities \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	$ 0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
REVENUES:
Revenues	$ 2,463,496	$ 2,408,264	$ 2,597,826
COSTS AND EXPENSES:
Depreciation of Lease Merchandise	1,621,101	1,576,303	1,757,730
Provision for Lease Merchandise Write-offs	178,338	155,250	193,926
Operating Expenses	469,160	451,084	450,374
Impairment of Goodwill	0	0	10,151
Costs and Expenses	2,268,599	2,182,637	2,412,181
OPERATING PROFIT	194,897	225,627	185,645
Interest Expense, Net	(31,289)	(29,406)	(37,401)
EARNINGS BEFORE INCOME TAX (BENEFIT) EXPENSE	163,608	196,221	148,244
INCOME TAX (BENEFIT) EXPENSE	(33,641)	57,383	49,535
NET EARNINGS	$ 197,249	$ 138,838	$ 98,709
EARNINGS PER SHARE
Basic (in dollars per share)	$ 4.63	$ 3.02	$ 1.90
Assuming Dilution (in dollars per share)	$ 4.53	$ 2.98	$ 1.90
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic ( in shares)	42,584	46,034	51,921
Assuming Dilution (in shares)	43,549	46,550	52,075
Lease Revenues and Fees
REVENUES:
Revenues	$ 2,366,489	$ 2,333,588	$ 2,523,785
Interest and Fees on Loans Receivable
REVENUES:
Revenues	$ 97,007	$ 74,676	$ 74,041

INCOME TAXES

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

The following is a summary of the Company's income tax (benefit) expense:


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Current Income Tax (Benefit) Expense:
Federal	$	20,261	$	77,412	$	46,579
State	108		12,420		12,155
	20,369		89,832		58,734
Deferred Income Tax (Benefit) Expense:
Federal	(49,973)		(32,612)		(10,696)
State	(4,037)		163		1,497
	(54,010)		(32,449)		(9,199)
Income Tax (Benefit) Expense	$	(33,641)	$	57,383	$	49,535

Significant components of the Company's deferred income tax liabilities and assets are as follows:


	December 31,
(In Thousands)	2024		2023
Deferred Income Tax Liabilities:
Property and Equipment	$	71,878	$	103
Goodwill and Other Intangibles	51,913		657
Investment in Partnership	—		131,002
Operating Lease Right-of-Use Assets	1,003		173

Total Deferred Income Tax Liabilities	124,794		131,935
Deferred Income Tax Assets:
Accrued Liabilities and Other Reserves	44,924		9,769
Customer Deposits and Advance Payments	9,035		38
Operating Lease Liabilities	2,845		191
Tax Credit Carryforwards	7,833		—
Net Operating Loss Carryforwards	4,162		—
Stock-Based Compensation	5,677		—
Other, Net	8,460		25,795
Total Deferred Income Tax Assets	82,936		35,793
Less: Valuation Allowance	(5,990)		(5,715)
Net Deferred Income Tax Liabilities	$	47,848	$	101,857

Partnership Deemed Liquidation

During the year ended December 31, 2024, the Company made a tax election to convert a subsidiary of the Company from a corporation to a disregarded entity which resulted in the deemed liquidation of the Company's investment in a wholly-owned partnership for tax purposes. As a result of the election, the Company reversed a deferred tax liability related to the investment in partnership and recognized a non-cash deferred tax benefit of $27.6 million.

The Company's effective tax rate differs from the statutory United States Federal income tax rate as follows:


	Year Ended December 31,
	2024		2023		2022
Statutory Rate	21.0	%	21.0	%	21.0	%
Increases (Decreases) in United States Federal Taxes
Resulting From:
State Income Taxes, Net of Federal Income Tax Benefit	5.3		4.9		5.0
Non-deductible Goodwill Impairment	—		—		1.4
Other Permanent Differences	0.8		0.3		0.6
Deferred Tax Adjustments	0.3		1.1		0.7
Partnership Deemed Liquidation	(16.9)		—		—
Valuation Allowance	(0.3)		—		2.2
Current Uncertain Tax Position Expense	(32.9)		1.9		2.2
Shortfall in Stock-based Compensation	0.6		0.4		1.0
Other, Net	1.5		(0.4)		(0.7)
Effective Tax Rate	(20.6)	%	29.2	%	33.4	%

At December 31, 2024, the Company had $2.8 million of tax-effected state net operating loss carryforwards and $3.5 million of state tax credit carryforwards, which will both begin to expire in 2025 and 2026, respectively.

The Company files a federal consolidated income tax return in the United States, and the separate legal entities file in various states. With few exceptions, the Company is no longer subject to federal, state and local tax examinations by tax authorities for years before 2021.

Uncertain Tax Positions

The following table summarizes the activity related to the Company's uncertain tax positions for the periods presented (does not include accrued interest):


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Balance at January 1,	$	46,200	$	46,407	$	46,750
Additions Based on Tax Positions Related to the Current Year	—		81		850
Additions for Tax Positions of Prior Years	—		—		—
Prior Year Reductions	(3)		—		—
Statute of Limitation Expirations	(45,103)		(288)		(607)
Settlements	(362)		—		(586)
Balance at December 31,	$	732	$	46,200	$	46,407

As of December 31, 2024 and 2023, uncertain tax positions (inclusive of accrued interest) were $0.8 million and $55.0 million, respectively, and are included within accounts payable and accrued expenses in the consolidated balance sheets.

In December 2019, Progressive Leasing reached an agreement in principle with the staff of the Federal Trade Commission ("FTC") with respect to a tentative settlement to resolve the FTC inquiry received by the Company in July 2018, under which Progressive Leasing agreed to pay $175.0 million. At the time of the agreement, the Company treated the tentative settlement as a non-deductible regulatory charge for tax purposes and recognized tax expense.

The $175.0 million settlement was finalized and paid to the FTC in 2020. Prior to filing the Company's 2020 income tax return, it was determined there was a reasonable basis for deducting the settlement amount on the return. However, the tax position did not meet the more-likely-than-not recognition standard and no tax benefit was recognized. As a result, the Company reclassified $44.8 million from taxes payable, previously recognized in December 2019, to an uncertain tax position as of December 31, 2021.

The Company's policy is to recognize potential interest and penalties related to uncertain tax positions as a component of income tax (benefit) expense, and recognized accrued interest related to this uncertain tax position accordingly. As of December 31, 2023, the amount of accrued interest related to the FTC settlement was $8.6 million.

During September 2024, the statute of limitations for the taxing authority to examine the uncertain tax position relating to the FTC settlement expired. The Company therefore recognized a net income tax benefit of $53.6 million relating to the uncertain tax position reversal, which included the reversal of the associated accrued interest. As a result, the Company had no accrued interest related to the FTC settlement as of December 31, 2024.

As of December 31, 2024 and 2023, the amount of uncertain tax benefits that, if recognized, would affect the effective tax rate is $0.6 million and $51.2 million, respectively, including interest and penalties.

During the year ended December 31, 2024, the Company recognized a net benefit of $8.7 million related to penalties and interest. During the years ended December 31, 2023 and 2022, the Company recognized net expense of $4.1 million and $3.0 million, respectively, related to penalties and interest. The Company had $0.1 million and $8.8 million of accrued interest and penalties at December 31, 2024 and 2023, respectively. The Company recognizes potential interest and penalties related to uncertain tax benefits as a component of income tax expense.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

FAIR VALUE MEASUREMENT - Schedule of Fair Value of Company's Debt and Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
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	573,720	559,500
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	$ 172,892	$ 148,466

- Definition

Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.

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+ Details

LOANS RECEIVABLE - Schedule of Components of Allowance for Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 40,620	$ 42,428
Provision for Loan Losses	55,950	40,757	$ 41,232
Charge-offs	(56,505)	(48,206)
Recoveries	7,718	5,641
Ending Balance	$ 47,783	$ 40,620	$ 42,428

- Definition

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

+ References + Details

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Calculation of Dilutive Share-Based Awards (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Weighted average shares outstanding (in shares)	42,584	46,034	51,921
Dilutive effect of share-based awards (in shares)	965	516	154
Weighted average shares outstanding assuming dilution (in shares)	43,549	46,550	52,075

SEGMENTS - Schedule of Revenue, Significant Segment Expenses, Other Segment Items, and Profit and Loss Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Total Revenues	$ 2,463,496	$ 2,408,264	$ 2,597,826
Significant Segment Expenses
Depreciation of Lease Merchandise	1,621,101	1,576,303	1,757,730
Provision for Lease Merchandise Write-Offs	178,338	155,250	193,926
Selling, General and Administrative	363,542	365,762	366,290
Provision for Loan Losses	55,950	40,757	41,232
Impairment of Goodwill	0	0	10,151
Total	2,218,931	2,138,072	2,369,329
Other Segment Items:
Depreciation and Amortization	26,977	32,032	33,851
Restructuring Expenses	22,691	12,533	9,001
Interest Expense	39,452	39,452	39,073
Interest Income	8,163	10,046	1,672
Total	80,957	73,971	80,253
EARNINGS BEFORE INCOME TAX (BENEFIT) EXPENSE	163,608	196,221	148,244
Lease Revenues and Fees
Revenues:
Total Revenues	2,366,489	2,333,588	2,523,785
Interest and Fees on Loans Receivable
Revenues:
Total Revenues	97,007	74,676	74,041
Other Segment Items:
Subscription fee and interchange revenue within scope of ASC 606	11,400
Operating Segments \| Progressive Leasing
Revenues:
Total Revenues	2,366,489	2,333,588	2,523,785
Significant Segment Expenses
Depreciation of Lease Merchandise	1,621,101	1,576,303	1,757,730
Provision for Lease Merchandise Write-Offs	178,338	155,250	193,926
Selling, General and Administrative	309,859	315,088	321,266
Provision for Loan Losses	0	0	0
Impairment of Goodwill			0
Total	2,109,298	2,046,641	2,272,922
Other Segment Items:
Depreciation and Amortization	23,546	29,165	31,374
Restructuring Expenses	18,210	12,533	8,343
Interest Expense	38,816	38,859	38,675
Interest Income	8,163	9,881	1,672
Total	72,409	70,676	76,720
EARNINGS BEFORE INCOME TAX (BENEFIT) EXPENSE	184,782	216,271	174,143
Operating Segments \| Vive
Revenues:
Total Revenues	64,415	68,912	70,911
Significant Segment Expenses
Depreciation of Lease Merchandise	0	0	0
Provision for Lease Merchandise Write-Offs	0	0	0
Selling, General and Administrative	25,456	26,932	24,225
Provision for Loan Losses	37,311	36,097	35,640
Impairment of Goodwill			0
Total	62,767	63,029	59,865
Other Segment Items:
Depreciation and Amortization	643	745	795
Restructuring Expenses	1,853	0	658
Interest Expense	0	593	398
Interest Income	0	0	0
Total	2,496	1,338	1,851
EARNINGS BEFORE INCOME TAX (BENEFIT) EXPENSE	(848)	4,545	9,195
Operating Segments \| Lease Revenues and Fees \| Progressive Leasing
Revenues:
Total Revenues	2,366,489	2,333,588	2,523,785
Operating Segments \| Lease Revenues and Fees \| Vive
Revenues:
Total Revenues	0	0	0
Operating Segments \| Interest and Fees on Loans Receivable \| Progressive Leasing
Revenues:
Total Revenues	0	0	0
Operating Segments \| Interest and Fees on Loans Receivable \| Vive
Revenues:
Total Revenues	64,415	68,912	70,911
Other
Revenues:
Total Revenues	32,592	5,764	3,130
Significant Segment Expenses
Depreciation of Lease Merchandise	0	0	0
Provision for Lease Merchandise Write-Offs	0	0	0
Selling, General and Administrative	28,227	23,742	20,799
Provision for Loan Losses	18,639	4,660	5,592
Impairment of Goodwill			10,151
Total	46,866	28,402	36,542
Other Segment Items:
Depreciation and Amortization	2,788	2,122	1,682
Restructuring Expenses	2,628	0	0
Interest Expense	636	0	0
Interest Income	0	165	0
Total	6,052	1,957	1,682
EARNINGS BEFORE INCOME TAX (BENEFIT) EXPENSE	(20,326)	(24,595)	(35,094)
Other \| Lease Revenues and Fees
Revenues:
Total Revenues	0	0	0
Other \| Interest and Fees on Loans Receivable
Revenues:
Total Revenues	32,592	5,764	3,130
Intersegment Eliminations
Other Segment Items:
Interest Expense	600	800	400
Interest Income	$ 600	$ 800	$ 400

LEASES - Schedule of Additional Information Regarding Company's Leasing Activities as Lessee (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating Cash Flows for Operating Leases	$ 5,675	$ 5,847
Total Cash paid for amounts included in measurement of Lease Liabilities	5,675	5,847
Right-of-Use Assets obtained in exchange for new Operating Lease Liabilities	$ 648	$ 0

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Components of Accounts Receivable Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 64,180	$ 69,264	$ 71,233
Net Book Value of Accounts Written Off	(360,790)	(348,729)	(415,344)
Recoveries	37,609	39,019	37,111
Accounts Receivable Provision	330,608	304,626	376,264
Ending Balance	$ 71,607	$ 64,180	$ 69,264

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2024	Feb. 14, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 923,341,852
Entity Common Stock, Shares Outstanding		40,816,531
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement for the 2025 annual meeting of shareholders, to be filed subsequently with the Securities and Exchange Commission, or SEC, pursuant to Regulation 14A, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001808834
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Earnings	$ 197,249	$ 138,838	$ 98,709

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) shares in Thousands			3 Months Ended	12 Months Ended
	Oct. 01, 2024 USD ($)	Jun. 25, 2021 paymentInstallment	Sep. 30, 2022 USD ($)	Dec. 31, 2024 USD ($) segment installment shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Oct. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments \| segment				2
Advertising costs				$ 20,100,000	$ 17,200,000	$ 15,800,000
Anti-dilutive securities excluded from the computation of earnings per share assuming dilution (in shares) \| shares				440	833	1,410
Accounts receivable, after allowance for credit loss				$ 80,225,000	$ 67,879,000
Loans receivable, net				146,985,000	126,823,000
Goodwill impairment				0	0	$ (10,151,000)
Goodwill				296,061,000	296,061,000	296,061,000		$ 306,212,000
Impairment of indefinite-lived intangibles	$ 0
Four Technologies, Inc.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill impairment			$ (10,200,000)			(10,151,000)
Goodwill				$ 7,260,000	7,260,000	$ 7,260,000	$ 7,300,000	$ 17,411,000
Progressive Leasing
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease merchandise, salvage value (as percent)				0.00%
Lease agreement, lease period used as asset useful life (in months)				12 months
Accounts receivable, after allowance for credit loss				$ 80,200,000	67,900,000
Agreement One \| Progressive Finance Holdings, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease agreement period (in months)				12 months
Four Technologies, Inc.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of interest-free installments		4		4
Loans receivable, net				$ 34,900,000	$ 13,900,000

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	$ 83,077	$ 85,530
Less: Accumulated Depreciation and Amortization	(61,634)	(61,426)
Property and Equipment, Net	21,443	24,104
Internal-use software development cost, accumulated amortization	29,200	23,100
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	5,808	10,910
Fixtures, Equipment and Vehicles
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	29,949	33,771
Internal-Use Software
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	46,474	39,792
Internal-Use Software - In Development
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	$ 846	$ 1,057

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cybersecurity Incident (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Unusual or Infrequent Item, or Both [Line Items]
Accrued costs related to cybersecurity incident	$ 0.5	$ 1.2
Cybersecurity Incident
Unusual or Infrequent Item, or Both [Line Items]
Amounts incurred for actual and anticipated costs	0.3	2.8
Accrued costs related to cybersecurity incident	$ 0.1	$ 0.9

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite-Lived Intangible Assets

The following table summarizes information related to indefinite-lived intangible assets at December 31:


	December 31,
(In Thousands)	2024		2023
Trade Name	$	53,000	$	53,000
Goodwill	296,061		296,061
Indefinite-lived Intangible Assets	$	349,061	$	349,061

Schedule of Carrying Amount of Goodwill by Reporting Unit

The following table provides information related to the carrying amount of the Company's goodwill by reporting unit:


(In Thousands)	Progressive Leasing		Four		Total
Balance at January 1, 2022	$	288,801	$	17,411	$	306,212
Impairment of Goodwill1	—		(10,151)		(10,151)
Balance at December 1, 2022	288,801		7,260		296,061
Changes to Goodwill	—		—		—
Balance at December 31, 2023	288,801		7,260		296,061
Changes to Goodwill	—		—		—
Balance at December 31, 2024	$	288,801	$	7,260	$	296,061

Schedule of Definite-Lived Intangible Assets

The following table summarizes information related to definite-lived intangible assets at December 31:


	2024						2023
(In Thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Acquired Internal-Use Software	$	14,000	$	(14,000)	$	—	$	14,000	$	(14,000)	$	—
Technology	72,550		(71,350)		1,200		72,550		(68,662)		3,888
Merchant Relationships	181,586		(162,187)		19,399		181,586		(147,104)		34,482
Other Intangibles1	587		(411)		176		587		(293)		294
Total	$	268,723	$	(247,948)	$	20,775	$	268,723	$	(230,059)	$	38,664

1 Other intangibles consists of the Four trade name.

Schedule of Estimated Future Amortization Expense

As of December 31, 2024, estimated future amortization expense for the next five years related to definite-lived intangible assets is as follows:


(In Thousands)
2025	$	16,001
2026	4,774
2027	—
2028	—
2029	—

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

SEGMENTS - Schedule of Total Assets and Capital Expenditures by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Assets	$ 1,513,767	$ 1,491,255
Total Capital Expenditures	8,316	9,616	$ 9,674
Revenues	2,463,496	2,408,264	2,597,826
Provision for Lease Merchandise Write-offs	178,338	155,250	193,926
Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	2,366,489	2,333,588	2,523,785
Operating Segments \| Progressive Leasing
Segment Reporting Information [Line Items]
Total Assets	1,282,585	1,286,587
Total Capital Expenditures	5,615	6,160	5,835
Revenues	2,366,489	2,333,588	2,523,785
Provision for Lease Merchandise Write-offs	178,338	155,250	193,926
Operating Segments \| Progressive Leasing \| Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	2,366,489	2,333,588	2,523,785
Operating Segments \| Vive
Segment Reporting Information [Line Items]
Total Assets	137,762	141,028
Total Capital Expenditures	298	601	926
Revenues	64,415	68,912	70,911
Provision for Lease Merchandise Write-offs	0	0	0
Operating Segments \| Vive \| Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	0	0	0
Other
Segment Reporting Information [Line Items]
Total Assets	93,420	63,640
Total Capital Expenditures	2,403	2,855	2,913
Revenues	32,592	5,764	3,130
Provision for Lease Merchandise Write-offs	0	0	0
Other \| Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax (Benefit) Expense

The following is a summary of the Company's income tax (benefit) expense:


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Current Income Tax (Benefit) Expense:
Federal	$	20,261	$	77,412	$	46,579
State	108		12,420		12,155
	20,369		89,832		58,734
Deferred Income Tax (Benefit) Expense:
Federal	(49,973)		(32,612)		(10,696)
State	(4,037)		163		1,497
	(54,010)		(32,449)		(9,199)
Income Tax (Benefit) Expense	$	(33,641)	$	57,383	$	49,535

Schedule of Significant Components of Deferred Income Tax Liabilities and Assets

Significant components of the Company's deferred income tax liabilities and assets are as follows:


	December 31,
(In Thousands)	2024		2023
Deferred Income Tax Liabilities:
Property and Equipment	$	71,878	$	103
Goodwill and Other Intangibles	51,913		657
Investment in Partnership	—		131,002
Operating Lease Right-of-Use Assets	1,003		173

Total Deferred Income Tax Liabilities	124,794		131,935
Deferred Income Tax Assets:
Accrued Liabilities and Other Reserves	44,924		9,769
Customer Deposits and Advance Payments	9,035		38
Operating Lease Liabilities	2,845		191
Tax Credit Carryforwards	7,833		—
Net Operating Loss Carryforwards	4,162		—
Stock-Based Compensation	5,677		—
Other, Net	8,460		25,795
Total Deferred Income Tax Assets	82,936		35,793
Less: Valuation Allowance	(5,990)		(5,715)
Net Deferred Income Tax Liabilities	$	47,848	$	101,857

Schedule of Effective Tax Rate Differs from Statutory United States Federal Income Tax Rate

The Company's effective tax rate differs from the statutory United States Federal income tax rate as follows:


	Year Ended December 31,
	2024		2023		2022
Statutory Rate	21.0	%	21.0	%	21.0	%
Increases (Decreases) in United States Federal Taxes
Resulting From:
State Income Taxes, Net of Federal Income Tax Benefit	5.3		4.9		5.0
Non-deductible Goodwill Impairment	—		—		1.4
Other Permanent Differences	0.8		0.3		0.6
Deferred Tax Adjustments	0.3		1.1		0.7
Partnership Deemed Liquidation	(16.9)		—		—
Valuation Allowance	(0.3)		—		2.2
Current Uncertain Tax Position Expense	(32.9)		1.9		2.2
Shortfall in Stock-based Compensation	0.6		0.4		1.0
Other, Net	1.5		(0.4)		(0.7)
Effective Tax Rate	(20.6)	%	29.2	%	33.4	%

Schedule of Activity Related to Uncertain Tax Positions

The following table summarizes the activity related to the Company's uncertain tax positions for the periods presented (does not include accrued interest):


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Balance at January 1,	$	46,200	$	46,407	$	46,750
Additions Based on Tax Positions Related to the Current Year	—		81		850
Additions for Tax Positions of Prior Years	—		—		—
Prior Year Reductions	(3)		—		—
Statute of Limitation Expirations	(45,103)		(288)		(607)
Settlements	(362)		—		(586)
Balance at December 31,	$	732	$	46,200	$	46,407

STOCK-BASED COMPENSATION - Schedule of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Options
Beginning Balance (in shares) \| shares	914
Forfeited/Expired (in shares) \| shares	(12)
Exercised (in shares) \| shares	(55)
Ending Balance (in shares) \| shares	847
Expected to Vest (in shares) \| shares	204
Exercisable (in shares) \| shares	642
Weighted Average Exercise Price
Beginning Balance (in dollars per share)	$ 33.25
Forfeited/Expired (in dollars per share)	44.14
Exercised (in dollars per share)	25.96
Ending Balance (in dollars per share)	33.55
Expected to Vest (in dollars per share)	26.30
Exercisable (in dollars per share)	$ 35.88
Weighted Average Remaining Contractual Term (in Years)
Outstanding	5 years 10 months 28 days
Expected to Vest	7 years 9 months 21 days
Exercisable	5 years 3 months 18 days
Aggregate Intrinsic Value
Outstanding \| $	$ 8,566
Expected \| $	3,254
Exercisable \| $	$ 5,290
Weighted Average Fair Value
Outstanding (in dollars per share)	$ 12.68
Expected to Vest (in dollars per share)	11.38
Exercisable (in dollars per share)	$ 13.09

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
OPERATING ACTIVITIES:
Net Earnings	$ 197,249	$ 138,838	$ 98,709
Adjustments to Reconcile Net Earnings to Cash Provided by Operating Activities:
Depreciation of Lease Merchandise	1,621,101	1,576,303	1,757,730
Other Depreciation and Amortization	26,977	32,032	33,851
Provisions for Accounts Receivable and Loan Losses	386,558	345,383	417,496
Stock-Based Compensation	29,179	24,920	17,521
Deferred Income Taxes	(56,030)	(32,449)	(9,199)
Impairment of Goodwill and Other Assets	6,018	0	10,151
Income Tax Benefit from Reversal of Uncertain Tax Position	(51,443)	0	0
Non-Cash Lease Expense	(3,632)	(2,669)	(1,674)
Other Changes, Net	(2,640)	(5,992)	(7,164)
Changes in Operating Assets and Liabilities:
Additions to Lease Merchandise	(1,850,425)	(1,721,117)	(1,889,207)
Book Value of Lease Merchandise Sold or Disposed	182,509	159,430	197,489
Accounts Receivable	(342,954)	(307,984)	(374,515)
Prepaid Expenses and Other Assets	(25,394)	(2,110)	68
Income Tax Receivable and Payable	24,743	(14,188)	(6,007)
Operating Lease Right-of-Use Assets and Liabilities	0	0	2,999
Accounts Payable and Accrued Expenses	(8,495)	15,200	2,227
Customer Deposits and Advance Payments	5,204	(1,361)	(7,996)
Cash Provided by Operating Activities	138,525	204,236	242,479
INVESTING ACTIVITIES:
Investments in Loans Receivable	(459,463)	(214,686)	(203,600)
Proceeds from Loans Receivable	388,437	185,056	159,707
Outflows on Purchases of Property and Equipment	(8,316)	(9,616)	(9,674)
Proceeds from Sale of Property and Equipment	131	48	27
Other Proceeds	41	365	6
Cash Used in Investing Activities	(79,170)	(38,833)	(53,534)
FINANCING ACTIVITIES:
Borrowings on Revolving Facility	50,000	0	0
Acquisition of Treasury Stock	(138,651)	(139,573)	(223,598)
Tender Offer Stock Repurchased and Retired	0	0	(274)
Dividends Paid	(20,393)	0	0
Issuance of Stock Under Stock Option and Employee Purchase Plans	2,364	1,357	1,150
Cash Paid for Shares Withheld for Employee Taxes	(9,660)	(3,622)	(2,902)
Debt Issuance Costs	(2,776)	(29)	(1,600)
Cash Used In Financing Activities	(119,116)	(141,867)	(227,224)
(Decrease) Increase in Cash and Cash Equivalents	(59,761)	23,536	(38,279)
Cash and Cash Equivalents at Beginning of Year	155,416	131,880	170,159
Cash and Cash Equivalents at End of Year	95,655	155,416	131,880
Net Cash Paid During the Year:
Interest	37,033	36,991	35,712
Income Taxes	$ 49,840	$ 100,433	$ 62,172

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	May 31, 2021	Apr. 30, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Aggregate number of shares of common stock authorized for issuance under the incentive stock awards plan (in shares)				10,980,000	8,000,000
Aggregate number of shares of common stock issued or transferred under the incentive stock awards plan (in shares)	3,285,467
Stock-based compensation expense	$ 29.2	$ 24.9	$ 17.5
Tax benefit from exercise of stock options	7.3	6.2	5.9
Benefit (deficit) of tax deductions in excess of recognized compensation cost	$ (0.1)	$ (0.4)	$ (1.7)
Stock options granted (in shares)	0	208,000	264,000
Aggregate intrinsic value of options exercised	$ 0.9	$ 0.1	$ 0.0
Fair value of options exercised	$ 0.4	$ 0.1
Employee Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Aggregate number of shares of common stock issued or transferred under the incentive stock awards plan (in shares)	342,955
Unrecognized compensation expense related to non-vested award	$ 27.9
Unrecognized compensation expense related to non-vested award, recognition period (in years)	1 year 4 months 20 days
Weighted average grant date fair value (in dollars per share)	$ 27.56	$ 18.72	$ 14.06
Shares issued in period (in shares)	44,811	67,720	81,784
Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Dividend Yield		0.00%	0.00%
Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock granted (in shares)	646,000	574,000	630,000
Weighted average grant date fair value (in dollars per share)	$ 30.67	$ 25.69	$ 26.05
Total fair value of shares vesting	$ 19.2	$ 8.4	$ 3.9
Performance Share Units
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Dividend Yield	1.60%
Total fair value of shares vesting	$ 7.7	$ 2.2	$ 4.1
Minimum \| Performance Share Units
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Performance-based shares potentially be issued ranges (as percent)	0.00%
Minimum \| Performance Share Units \| One-year service period
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Vesting period (in years)	1 year
Maximum \| Performance Share Units \| One-year service period
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Vesting period (in years)	3 years
Maximum \| Performance Share Units \| Terms and Conditions, Scenario 1
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Performance-based shares potentially be issued ranges (as percent)	100.00%
Maximum \| Performance Share Units \| Terms and Conditions, Scenario 2
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Performance-based shares potentially be issued ranges (as percent)	200.00%
Maximum \| Performance Share Units \| Terms and Conditions, Scenario 3
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Performance-based shares potentially be issued ranges (as percent)	400.00%
2015 Incentive Award Plan
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Unexercised options lapse period (in years)	10 years
2015 Incentive Award Plan \| Minimum \| Employee Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Vesting period (in years)	1 year
2015 Incentive Award Plan \| Minimum \| Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Vesting period (in years)	1 year
2015 Incentive Award Plan \| Maximum \| Employee Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Vesting period (in years)	3 years
2015 Incentive Award Plan \| Maximum \| Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Vesting period (in years)	3 years

LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Total Operating Lease Cost

The Company's total operating lease cost is comprised of the following:


	Year Ended December 31,
(In Thousands)	2024		2023
Operating Lease cost:
Operating Lease cost classified within Operating Expenses1	$	2,045	$	3,178

Total Operating Lease cost:	$	2,045	$	3,178

1 Short-term and variable lease expenses were not significant during the years ended December 31, 2024 and 2023. Short-term lease expense is defined as leases with a lease term of greater than one month, but not greater than 12 months.

Schedule of Additional Information Regarding Company's Leasing Activities as Lessee

Additional information regarding the Company's leasing activities as a lessee is as follows:


	Year Ended December 31,
(In Thousands)	2024		2023
Cash Paid for amounts included in measurement of Lease Liabilities:
Operating Cash Flows for Operating Leases	$	5,675	$	5,847
Total Cash paid for amounts included in measurement of Lease Liabilities	5,675		5,847
Right-of-Use Assets obtained in exchange for new Operating Lease Liabilities	648		—

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:


		December 31,
(In Thousands)	Balance Sheet Classification	2024		2023
Assets
Total Lease Assets1	Operating Lease Right-of-Use Assets	$	4,035	$	9,271
Liabilities
Total Lease Liabilities	Operating Lease Liabilities	$	11,496	$	15,849

1 Operating lease right-of-use assets as of December 31, 2024 reflect impairment charges of $4.5 million that were recorded as part of the restructuring activities during 2024. For further details related to the restructuring activities, see Note 10.

Schedule of Weighted-Average Discount Rate and Weighted-Average Remaining Lease Term

Below is a summary of the weighted-average discount rate and weighted-average remaining lease term for the Company's operating leases:


	December 31,
	2024			2023
	Weighted Average Discount Rate		Weighted Average Remaining Lease Term (in years)	Weighted Average Discount Rate		Weighted Average Remaining Lease Term (in years)
Operating Leases	4.0	%	2.4	3.5	%	3.1

Schedule of Reconciliation of Future Undiscounted Cash Flows to Present Value of Operating Lease Liabilities

The table also includes a reconciliation of the future undiscounted cash flows to the present value of operating lease liabilities included in the consolidated balance sheets.


(In Thousands)	Total
2025	$	4,641
2026	4,179
2027	2,948
2028	163
2029	—
Thereafter	—
Total Undiscounted Cash Flows	11,931
Less: Interest	(435)
Present Value of Lease Liabilities	$	11,496

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal 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 December 31, 2024 and 2023, the Company had accrued $0.5 million and $1.2 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 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 December 31, 2024, 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 April 2020, Progressive Leasing entered into a settlement (the "FTC Settlement") with the Federal Trade Commission ("FTC") to resolve allegations by the FTC that certain of Progressive Leasing’s advertising and marketing practices violated the FTC Act. Progressive Leasing did not admit any violations of the FTC Act or any other laws in connection with the FTC Settlement. Under the terms of the FTC Settlement, Progressive Leasing paid $175.0 million to the FTC and agreed to enhance certain of its compliance-related activities, including augmenting disclosures to its customers and expanding its POS partner monitoring programs. Progressive Leasing further agreed to submit compliance reports or produce other requested documents and information to the FTC upon written request by the FTC. During the third quarter of 2024, Progressive Leasing received a written request from the FTC to evidence Progressive Leasing’s compliance with the FTC Settlement by providing the FTC with information and documents, including those related to customer complaints and advertising and marketing materials. The FTC’s request is not a civil investigative demand. The Company is fully cooperating with the FTC in responding to the FTC’s request for information and documents. 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. Although Progressive Leasing believed the Pennsylvania Attorney General's claims were without merit, it entered into a settlement agreement with the Attorney General in January 2024, pursuant to which the Attorney General agreed to release its claims against Progressive Leasing. The court where that lawsuit was pending approved the settlement on January 26, 2024 resulting in a $1.0 million settlement, which was paid by the Company during the first quarter of 2024. During the third quarter of 2023, Progressive Leasing 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. Based on the Company's investigation, the Company determined that the data involved in the incident contained a substantial amount of personally identifiable information, including social security numbers, of Progressive Leasing's customers and other individuals. With the assistance of our cybersecurity experts, the Company located the Progressive Leasing customers and other individuals whose information was impacted and notified them, consistent with state and federal requirements. The Company also took a number of additional measures to demonstrate its continued support and commitment to data privacy and protection. As a result of the cybersecurity incident, Progressive Leasing has become subject to multiple lawsuits which allege, among other things, the incurrence of various types of damages arising out of the incident. All of these lawsuits have been consolidated into a single action in the United States District Court for the District of Utah (the "District Court"). The plaintiffs filed a consolidated complaint on April 19, 2024. On June 24, 2024, Progressive Leasing filed a motion to dismiss the complaint, which was granted in part and denied in part on January 16, 2025. Progressive Leasing intends to vigorously defend itself against the lawsuit; however, at this time, the Company is unable to determine or predict the outcome of this lawsuit or reasonably provide an estimate or range of the possible losses, if any. The Company also maintains cybersecurity insurance coverage, subject to a $1.0 million retention, to limit the exposure to losses such as those related to the cybersecurity incident and lawsuits stemming therefrom; however, there can be no assurance that such insurance coverage will be adequate to cover all of the losses, costs and expenses related thereto or that the insurers will agree to cover such losses, costs and expenses. Other Contingencies At December 31, 2024, the Company had non-cancelable commitments of $41.3 million primarily related to certain consulting and information technology services agreements, software licenses, hardware and software maintenance, and minimum contractually required customer loan amounts that were originated through and to be acquired from Vive's third-party federally insured banks. Payments under these commitments are scheduled to be $27.3 million in 2025, $10.5 million in 2026, $2.7 million in 2027, and $0.8 million in 2028, with no amounts committed thereafter. 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 $461.1 million and $523.9 million as of December 31, 2024 and 2023, 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.

RESTRUCTURING EXPENSES

12 Months Ended

Dec. 31, 2024

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 2024 and recorded restructuring expenses of $22.7 million, $12.5 million and $9.0 million for the years ended December 31, 2024, 2023 and 2022, respectively, resulting in aggregate expenses of $44.2 million since the inception of the restructuring activities in 2022. These costs were primarily comprised of early contract termination costs related to certain independent sales agreements and a third party service and marketing agreement, employee severance, 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 management and information technology office space.

The following tables summarize restructuring charges recorded within operating expenses in the consolidated statements of earnings for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
	2024								2023		2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing			Total		Progressive Leasing		Vive		Total
Severance	$	4,253	$	1,853	$	628	$	6,734	$	2,958		$	2,958	$	5,611	$	—	$	5,611
Right-of-Use Asset Impairment1	4,515		—		—		4,515		—			—		2,285		655		2,940
Property and Equipment Impairment	1,503		—		—		1,503		—			—		309		3		312
Early Contract Termination Costs	7,750		—		2,000		9,750		9,575			9,575		—		—		—
Other Restructuring Activities	189		—		—		189		—			—		138		—		138
Total Restructuring Expenses	$	18,210	$	1,853	$	2,628	$	22,691	$	12,533		$	12,533	$	8,343	$	658	$	9,001

1 To determine the amount of impairment for vacated office space, the fair value of the right-of-use asset is calculated based on the present value of the estimated net cash flows related to the right-of-use asset.

The following table summarizes the accrual and payment activity related to the restructuring program for the years ended December 31, 2024, 2023 and 2022:


(In Thousands)	Severance		Early Contract Termination Costs		Other Restructuring Activities		Total
Balance at January 1, 2022	$	—	$	—	$	—	$	—
Charges	5,611		—		138		5,749
Cash Payments	(2,550)		—		(96)		(2,646)
Balance at December 31, 2022	3,061		—		42		3,103
Charges	2,958		9,600		(25)		12,533
Cash Payments	(3,344)		(7,100)		(17)		(10,461)
Balance at December 31, 2023	2,675		2,500		—		5,175
Charges	6,734		9,750		189		16,673
Cash Payments	(7,084)		(10,650)		(189)		(17,923)
Balance at December 31, 2024	$	2,325	$	1,600	$	—	$	3,925

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.

INDEBTEDNESS - Narrative (Details) - USD ($)		12 Months Ended
INDEBTEDNESS - Narrative (Details) - USD ($)	Nov. 26, 2021	Dec. 31, 2024	Dec. 31, 2022	Dec. 31, 2023	Nov. 24, 2020
Extinguishment of Debt [Line Items]
Aggregate principal amount		$ 650,000,000
Debt covenant, adjusted EBITDA plus lease expense to fixed charges (no more than)		2.50
Letters of Credit \| Subsidiaries
Extinguishment of Debt [Line Items]
Maximum borrowing capacity		$ 20,000,000
Common Stock
Extinguishment of Debt [Line Items]
Tender offer to purchase company's common stock			$ 425,000,000
Unsecured Debt
Extinguishment of Debt [Line Items]
Aggregate principal amount		600,000,000		$ 600,000,000
Line of Credit
Extinguishment of Debt [Line Items]
Aggregate principal amount		$ 50,000,000		$ 0
Line of Credit \| Base Rate
Extinguishment of Debt [Line Items]
Interest rate, basis spread, base rate lower than LIBOR (as percent)		1.00%
Line of Credit \| Minimum \| SOFR
Extinguishment of Debt [Line Items]
Interest rate basis spread (as percent)		1.50%
Line of Credit \| Maximum \| SOFR
Extinguishment of Debt [Line Items]
Interest rate basis spread (as percent)		2.50%
Line of Credit \| Revolving Credit Facility
Extinguishment of Debt [Line Items]
Maximum borrowing capacity					$ 350,000,000
Debt instrument, fee amount		$ 5,000,000
Outstanding borrowings under the revolving facility		50,000,000
Amount available under Revolving Facility		$ 300,000,000
Senior Notes \| Unsecured Debt
Extinguishment of Debt [Line Items]
Aggregate principal amount	$ 600,000,000
Senior Notes \| Secured Debt
Extinguishment of Debt [Line Items]
Debt interest rate (as percent)	6.00%	6.00%		6.00%
Senior Notes \| Secured Debt \| Debt Instrument, Redemption, Period One
Extinguishment of Debt [Line Items]
Debt instrument, issuance, par value (as percent)	100.00%
Debt instrument, redemption price (as percent)	100.00%
Senior Notes \| Secured Debt \| Debt Instrument, Redemption, Period Two
Extinguishment of Debt [Line Items]
Debt instrument, redemption price (as percent)	101.00%
Swingline Loans on Customary Terms \| Subsidiaries
Extinguishment of Debt [Line Items]
Maximum borrowing capacity		$ 25,000,000
Incremental Facilities
Extinguishment of Debt [Line Items]
Maximum borrowing capacity		$ 300,000,000
Credit Facility, 2014
Extinguishment of Debt [Line Items]
Debt covenant, total debt to adjusted EBITDA (no less than)		3.00
Credit Facility, 2014 \| Line of Credit \| Revolving Credit Facility \| Minimum
Extinguishment of Debt [Line Items]
Commitment fee for unused balance amount (as percent)		0.25%
Credit Facility, 2014 \| Line of Credit \| Revolving Credit Facility \| Maximum
Extinguishment of Debt [Line Items]
Commitment fee for unused balance amount (as percent)		0.40%

LEASES - Schedule of Weighted-Average Discount Rate and Weighted-Average Remaining Lease Term (Details)	Dec. 31, 2024	Dec. 31, 2023
Weighted Average Discount Rate
Operating Leases	4.00%	3.50%
Weighted Average Remaining Lease Term (in years)
Operating Leases	2 years 4 months 24 days	3 years 1 month 6 days

INDEBTEDNESS - Schedule of Company's Debt, Net of Applicable Unamortized Debt Issuance Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Nov. 26, 2021
Extinguishment of Debt [Line Items]
Long-term debt, gross	$ 650,000
Less: Unamortized Debt Issuance Costs	(6,437)	$ (7,735)
Total Debt, Net of Unamortized Debt Issuance Costs	$ 643,563	592,265
Revolving Credit Facility
Extinguishment of Debt [Line Items]
Variable interest rate at end of period (percent)	8.25%
Unamortized debt issuance costs	$ 3,200	900
Unsecured Debt
Extinguishment of Debt [Line Items]
Long-term debt, gross	600,000	600,000
Line of Credit
Extinguishment of Debt [Line Items]
Long-term debt, gross	$ 50,000	$ 0
Senior Unsecured Notes Due 2029 \| Secured Debt
Extinguishment of Debt [Line Items]
Debt interest rate (as percent)	6.00%	6.00%	6.00%
Senior Unsecured Notes Due 2029 \| Unsecured Debt
Extinguishment of Debt [Line Items]
Long-term debt, gross			$ 600,000

SEGMENTS

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENTS

Description of Products and Services of Reportable Segments

As of December 31, 2024, 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, mobile phones and accessories, jewelry, 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 a buy-now, pay-later company that allows shoppers to pay for merchandise through four interest-free installments. Four is not a reportable segment for the years ended December 31, 2024, 2023, and 2022 as its financial results are not significant to the Company's consolidated financial results. The revenues, loss before income taxes, and assets of Four are included within Other, along with the Company's other strategic initiatives.

Factors Used by Management to Identify the Reportable Segments

The Company's reportable segments are based on the operations of the Company that the chief operating decision maker ("CODM") regularly reviews to analyze performance and allocate resources among business units of the Company. The Company's CODM is its President and CEO.

Segment Assets and Segment Profit or Loss

The CODM evaluates operating segment performance and decides how to allocate resources based on segment revenues and earnings (loss) before income tax (benefit) expense. The Company determines earnings (loss) before income tax (benefit) expense for all reportable segments in accordance with U.S. GAAP. The CODM uses this information to evaluate the profitability of the Company's reportable segments and make decisions on future business plans.

The Company incurred various corporate overhead expenses for certain executive management, legal, human resources, finance, facilities, audit, risk management, technology, and other overhead functions during the years ended December 31, 2024, 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 was consistent with how the CODM analyzed performance and allocated resources among the segments of the Company.

The following is a summary of total assets by segment. The amount within Other is primarily comprised of the assets of Four.


	December 31,
(In Thousands)	2024		2023
Assets:
Progressive Leasing	$	1,282,585	$	1,286,587
Vive	137,762		141,028
Other	93,420		63,640
Total Assets	$	1,513,767	$	1,491,255

Following is a summary of capital expenditures by segment:


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Capital Expenditures:1
Progressive Leasing	$	5,615	$	6,160	$	5,835
Vive	298		601		926
Other	2,403		2,855		2,913
Total Capital Expenditures	$	8,316	$	9,616	$	9,674
1Capital expenditures primarily consists of internal-use software, as well as computer hardware and furniture and equipment.

The following tables present a summary of segment revenues, significant segment expenses, other segment items, and profit and loss information for the years ended December 31, 2024, 2023, and 2022. The revenues and loss before income taxes within Other is comprised of the operating activities of Four and certain other strategic initiatives.


	Year Ended December 31, 2024
(In Thousands)	Progressive Leasing		Vive		Other		Total
Revenues:
Lease Revenues and Fees1	$	2,366,489	$	—	$	—	$	2,366,489
Interest and Fees on Loans Receivable2	—		64,415		32,592		97,007
Total Revenues	2,366,489		64,415		32,592		2,463,496

Significant Segment Expenses3
Depreciation of Lease Merchandise	1,621,101		—		—		1,621,101
Provision for Lease Merchandise Write-Offs	178,338		—		—		178,338
Selling, General and Administrative	309,859		25,456		28,227		363,542
Provision for Loan Losses	—		37,311		18,639		55,950
Total	2,109,298		62,767		46,866		2,218,931

Other Segment Items:
Depreciation and Amortization4	23,546		643		2,788		26,977
Restructuring Expenses	18,210		1,853		2,628		22,691
Interest Expense5	38,816		—		636		39,452
Interest Income5	(8,163)		—		—		(8,163)
Total	72,409		2,496		6,052		80,957

Earnings (Loss) Before Income Tax (Benefit) Expense	$	184,782	$	(848)	$	(20,326)	$	163,608



1 Revenue within the score of ASC 842, "Leases."
2 Revenue within the scope of ASC 310, "Receivables." Also included within Interest and Fees on Loans Receivable in for the Other category is $11.4 million of subscription fee and interchange revenue within the scope of ASC 606, "Revenue from Contracts with Customers."
3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
4 Excludes depreciation of lease merchandise, which is not included in the CODM's measure of depreciation and amortization.
5 Intersegment interest income and expense of $0.6 million are included within the amounts shown.


	Year Ended December 31, 2023
(In Thousands)	Progressive Leasing		Vive		Other		Total
Revenues:
Lease Revenues and Fees1	$	2,333,588	$	—	$	—	$	2,333,588
Interest and Fees on Loans Receivable2	—		68,912		5,764		74,676
Total Revenues	2,333,588		68,912		5,764		2,408,264

Significant Segment Expenses3
Depreciation of Lease Merchandise	1,576,303		—		—		1,576,303
Provision for Lease Merchandise Write-Offs	155,250		—		—		155,250
Selling, General and Administrative	315,088		26,932		23,742		365,762
Provision for Loan Losses	—		36,097		4,660		40,757

Total	2,046,641		63,029		28,402		2,138,072

Other Segment Items:
Depreciation and Amortization4	29,165		745		2,122		32,032
Restructuring Expenses	12,533		—		—		12,533
Interest Expense5	38,859		593		—		39,452
Interest Income5	(9,881)		—		(165)		(10,046)
Total	70,676		1,338		1,957		73,971

Earnings (Loss) Before Income Tax Expense	$	216,271	$	4,545	$	(24,595)	$	196,221



1 Revenue within the score of ASC 842, "Leases."
2 Revenue within the scope of ASC 310, "Receivables."
3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
4 Excludes depreciation of lease merchandise, which is not included in the CODM's measure of depreciation and amortization.
5 Intersegment interest income and expense of $0.8 million are included within the amounts shown.


	Year Ended December 31, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total
Revenues:
Lease Revenues and Fees1	$	2,523,785	$	—	$	—	$	2,523,785
Interest and Fees on Loans Receivable2	—		70,911		3,130		74,041
Total Revenues	2,523,785		70,911		3,130		2,597,826

Significant Segment Expenses3
Depreciation of Lease Merchandise	1,757,730		—		—		1,757,730
Provision for Lease Merchandise Write-Offs	193,926		—		—		193,926
Selling, General and Administrative	321,266		24,225		20,799		366,290
Provision for Loan Losses	—		35,640		5,592		41,232
Impairment of Goodwill	—		—		10,151		10,151
Total	2,272,922		59,865		36,542		2,369,329

Other Segment Items:
Depreciation and Amortization4	31,374		795		1,682		33,851
Restructuring Expenses	8,343		658		—		9,001
Interest Expense5	38,675		398		—		39,073
Interest Income5	(1,672)		—		—		(1,672)
Total	76,720		1,851		1,682		80,253

Earnings (Loss) Before Income Tax Expense	$	174,143	$	9,195	$	(35,094)	$	148,244



1 Revenue within the score of ASC 842, "Leases."
2 Revenue within the scope of ASC 310, "Receivables."
3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
4 Excludes depreciation of lease merchandise, which is not included in the CODM's measure of depreciation and amortization.
5 Intersegment interest income and expense of $0.4 million are included within the amounts shown.

In 2024, the results of the Company's operating segments were impacted by the following items:

•Progressive Leasing earnings before income tax (benefit) expense were impacted by $18.2 million related primarily to early contract termination costs, operating lease right-of-use asset and other fixed asset impairment charges related to a reduction of office space, and employee severance costs associated with the Company's restructuring activities.

•Vive loss before income tax (benefit) expense was impacted by $1.9 million of restructuring costs, which consisted of employee severance costs.

•Other loss before income tax (benefit) expense was impacted by $2.6 million of restructuring costs, which consisted of early contract termination costs and employee severance costs.

In 2023, the results of the Company's operating segments were impacted by the following items:

•Progressive Leasing earnings before income tax expense were impacted by $12.5 million related primarily to early contract termination costs and employee severance costs associated with the Company's restructuring activities.

•Progressive Leasing earnings before income tax expense were impacted by $2.8 million related to costs associated with the cybersecurity incident that occurred during the third quarter of 2023.

In 2022, the results of the Company's operating segments were impacted by the following items:

•Progressive Leasing earnings before income tax expense were impacted by $8.3 million related primarily to severance costs and lease asset impairment associated with the Company's restructuring activities.

•Vive earnings before income tax expense were impacted by $0.7 million related primarily to lease asset impairment associated with the Company's restructuring activities.

•Other earnings before income tax expense were impacted by the $10.2 million impairment loss associated with the partial impairment of Four's goodwill.

- 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.

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+ Details

LEASES

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

LEASES

Lessor Information

Refer to Note 1 to these consolidated financial statements for further information about the Company's revenue generating activities as a lessor. All of Progressive Leasing's customer agreements are considered operating leases, and the Company currently does not have any sales-type or direct financing leases.

Lessee Information

As a lessee, the Company leases management and information technology space for corporate functions under operating leases expiring at various times through 2028. To the extent that a leased property is vacated prior to the termination of the lease, the Company may sublease these spaces to third parties. The Company also leased space for its hub facilities and information technology equipment under operating leases. For all of its leases in which the Company is a lessee, the Company has elected to include both the lease and non-lease components as a single component and account for it as a lease. The Company did not have any obligations under finance leases for any of the periods presented within the consolidated financial statements.

Operating lease costs are recorded on a straight-line basis within operating expenses in the consolidated statements of earnings. The Company did not have any subleases in which it remained as the primary obligor during 2024 or 2023. The Company's total operating lease cost is comprised of the following:


	Year Ended December 31,
(In Thousands)	2024		2023
Operating Lease cost:
Operating Lease cost classified within Operating Expenses1	$	2,045	$	3,178

Total Operating Lease cost:	$	2,045	$	3,178

Additional information regarding the Company's leasing activities as a lessee is as follows:


	Year Ended December 31,
(In Thousands)	2024		2023
Cash Paid for amounts included in measurement of Lease Liabilities:
Operating Cash Flows for Operating Leases	$	5,675	$	5,847
Total Cash paid for amounts included in measurement of Lease Liabilities	5,675		5,847
Right-of-Use Assets obtained in exchange for new Operating Lease Liabilities	648		—

Supplemental balance sheet information related to leases is as follows:


		December 31,
(In Thousands)	Balance Sheet Classification	2024		2023
Assets
Total Lease Assets1	Operating Lease Right-of-Use Assets	$	4,035	$	9,271
Liabilities
Total Lease Liabilities	Operating Lease Liabilities	$	11,496	$	15,849

Many of the Company's real estate leases contain renewal options for additional periods ranging from three to five years. The Company currently does not have any real estate leases in which it considers the renewal options to be reasonably certain of exercise, as the Company's leases contain contractual renewal rental rates that are considered to be in line with market rental rates and there are not significant economic penalties or business disruptions incurred by not exercising any renewal options.

The Company uses its incremental borrowing rate as the discount rate for its leases, as the implicit rate in the lease is not readily determinable. Below is a summary of the weighted-average discount rate and weighted-average remaining lease term for the Company's operating leases:


	December 31,
	2024			2023
	Weighted Average Discount Rate		Weighted Average Remaining Lease Term (in years)	Weighted Average Discount Rate		Weighted Average Remaining Lease Term (in years)
Operating Leases	4.0	%	2.4	3.5	%	3.1

Under the short-term lease exception provided within ASC 842, the Company does not record a lease liability or right-of-use asset for any leases that have a lease term of 12 months or less at commencement. Below is a summary of undiscounted operating lease liabilities that have initial terms in excess of one year as of December 31, 2024. The table also includes a reconciliation of the future undiscounted cash flows to the present value of operating lease liabilities included in the consolidated balance sheets.


(In Thousands)	Total
2025	$	4,641
2026	4,179
2027	2,948
2028	163
2029	—
Thereafter	—
Total Undiscounted Cash Flows	11,931
Less: Interest	(435)
Present Value of Lease Liabilities	$	11,496

LEASES

Lessor Information

Lessee Information


	Year Ended December 31,
(In Thousands)	2024		2023
Operating Lease cost:
Operating Lease cost classified within Operating Expenses1	$	2,045	$	3,178

Total Operating Lease cost:	$	2,045	$	3,178

Additional information regarding the Company's leasing activities as a lessee is as follows:


	Year Ended December 31,
(In Thousands)	2024		2023
Cash Paid for amounts included in measurement of Lease Liabilities:
Operating Cash Flows for Operating Leases	$	5,675	$	5,847
Total Cash paid for amounts included in measurement of Lease Liabilities	5,675		5,847
Right-of-Use Assets obtained in exchange for new Operating Lease Liabilities	648		—

Supplemental balance sheet information related to leases is as follows:


		December 31,
(In Thousands)	Balance Sheet Classification	2024		2023
Assets
Total Lease Assets1	Operating Lease Right-of-Use Assets	$	4,035	$	9,271
Liabilities
Total Lease Liabilities	Operating Lease Liabilities	$	11,496	$	15,849


	December 31,
	2024			2023
	Weighted Average Discount Rate		Weighted Average Remaining Lease Term (in years)	Weighted Average Discount Rate		Weighted Average Remaining Lease Term (in years)
Operating Leases	4.0	%	2.4	3.5	%	3.1


(In Thousands)	Total
2025	$	4,641
2026	4,179
2027	2,948
2028	163
2029	—
Thereafter	—
Total Undiscounted Cash Flows	11,931
Less: Interest	(435)
Present Value of Lease Liabilities	$	11,496

RESTRUCTURING EXPENSES - Schedule of Accrual and Payment Activity Related to Restructuring Program (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 5,175	$ 3,103	$ 0
Charges	16,673	12,533	5,749
Cash Payments	(17,923)	(10,461)	(2,646)
Restructuring reserve, ending balance	$ 3,925	$ 5,175	$ 3,103
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating Expenses	Operating Expenses	Operating Expenses
Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 2,675	$ 3,061	$ 0
Charges	6,734	2,958	5,611
Cash Payments	(7,084)	(3,344)	(2,550)
Restructuring reserve, ending balance	2,325	2,675	3,061
Early Contract Termination Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	2,500	0	0
Charges	9,750	9,600	0
Cash Payments	(10,650)	(7,100)	0
Restructuring reserve, ending balance	1,600	2,500	0
Other Restructuring Activities
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0	42	0
Charges	189	(25)	138
Cash Payments	(189)	(17)	(96)
Restructuring reserve, ending balance	$ 0	$ 0	$ 42

GOODWILL AND INTANGIBLE ASSETS - Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 296,061	$ 296,061	$ 296,061	$ 306,212
Trade Names and Trademarks
Indefinite-lived Intangible Assets [Line Items]
Trade Name	53,000	53,000
Goodwill	296,061	296,061
Indefinite-lived Intangible Assets	$ 349,061	$ 349,061

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 100
-Subparagraph (d)
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

INCOME TAXES - Schedule of Activity Related to Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of activity related to uncertain tax positions:
Beginning Balance	$ 46,200	$ 46,407	$ 46,750
Additions Based on Tax Positions Related to the Current Year	0	81	850
Additions for Tax Positions of Prior Years	0	0	0
Prior Year Reductions	(3)	0	0
Statute of Limitation Expirations	(45,103)	(288)	(607)
Settlements	(362)	0	(586)
Ending Balance	$ 732	$ 46,200	$ 46,407

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 17.9	$ 22.7	$ 22.9

LOANS RECEIVABLE

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

LOANS RECEIVABLE

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


	December 31,
(In Thousands)	2024		2023
Loans Receivable, Gross	$	204,327	$	176,845
Unamortized Fees	(9,559)		(9,402)
Loans Receivable, Amortized Cost	194,768		167,443
Allowance for Loan Losses	(47,783)		(40,620)
Loans Receivable, Net of Allowances and Unamortized Fees1	$	146,985	$	126,823

1 Loans Receivable, Net of Allowances and Unamortized Fees attributable to Four was $34.9 million and $13.9 million as of December 31, 2024 and 2023, respectively.

Vive extends or declines credit to an applicant through its bank partners based upon the applicant's credit rating and other factors. Four extends or declines credit on an individual transaction basis using its proprietary decisioning platform, without using customer credit ratings. Four instead uses an internal model using factors such as banking data and user history to generate internal proprietary risk scores. Four groups its internal risk scores into three categories that range from A to C, with an A rating representing the highest credit quality.

Below is a summary of the credit quality of the Company's loan portfolio as of December 31, 2024 and 2023 by FICO score and proprietary risk category as determined at the time of loan origination:


	December 31,
	2024		2023
Vive - FICO Score Category:
600 or Less	10.3	%	7.1	%
Between 600 and 700	76.9	%	80.6	%
700 or Greater	12.8	%	12.3	%

Four - Proprietary Risk Category:
Category A	26.9	%	40.5	%
Category B	48.6	%	36.8	%
Category C	24.5	%	22.7	%

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


As of December 31, 2024 (In Thousands)	2024		2023 and Prior		Revolving Loans		Total
Vive - FICO Score Category:
600 or Less	$	—	$	—	$	15,118	$	15,118
Between 600 and 700	—		—		112,605		112,605
700 or Greater	—		—		18,690		18,690
Four - Proprietary Risk Category:
Category A	11,596		—		—		11,596
Category B	20,981		—		—		20,981
Category C	10,550		—		—		10,550
No Score Identified	5,228		—		—		5,228
Total Amortized Cost	$	48,355	$	—	$	146,413	$	194,768

Gross Charge-offs by Origination Year for the Year Ended December 31, 2024	$	10,635	$	3,018	$	42,852	$	56,505

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


(Dollar Amounts in Thousands)	December 31,
Aging Category	2024			2023
30-59 Days Past Due	7.7		%	7.3		%
60-89 Days Past Due	3.8		%	3.8		%
90 or More Days Past Due	4.9		%	5.4		%
Past Due Loans Receivable	16.4		%	16.5		%
Current Loans Receivable	83.6		%	83.5		%
Balance of Credit Card Loans on Nonaccrual Status	$	4,793		$	4,482
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:


	Year Ended December 31,
(In Thousands)	2024		2023
Beginning Balance	$	40,620	$	42,428
Provision for Loan Losses	55,950		40,757
Charge-offs	(56,505)		(48,206)
Recoveries	7,718		5,641
Ending Balance	$	47,783	$	40,620

LEASES - Schedule of Total Operating Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Total Operating Lease cost:	$ 2,045	$ 3,178
Operating Expense
Lessee, Lease, Description [Line Items]
Operating Lease cost classified within Operating Expenses	$ 2,045	$ 3,178

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 26, 2024	Apr. 30, 2020	Mar. 31, 2024	Dec. 31, 2020	Dec. 31, 2024	Dec. 31, 2023
Commitments And Contingencies Disclosure [Line Items]
Accrued legal expense					$ 0.5	$ 1.2
Non-cancelable commitments					41.3
Non-cancelable commitments due in 2025					27.3
Non-cancelable commitments due in 2026					10.5
Non-cancelable commitments due in 2027					2.7
Non-cancelable commitments due in 2028					0.8
Non-cancelable commitments due thereafter					0.0
Unused Lines of Credit
Commitments And Contingencies Disclosure [Line Items]
Unfunded lending commitments					461.1	$ 523.9
Cybersecurity Insurance
Commitments And Contingencies Disclosure [Line Items]
Retainage deposit					$ 1.0
Pennsylvania Attorney General Complaint
Commitments And Contingencies Disclosure [Line Items]
Payments for legal settlements			$ 1.0
Litigation settlement, amount awarded to other party	$ 1.0
FTC Inquiry
Commitments And Contingencies Disclosure [Line Items]
Payments for legal settlements		$ 175.0		$ 175.0

SEGMENTS - Narrative (Details) $ in Thousands		3 Months Ended		12 Months Ended
SEGMENTS - Narrative (Details) $ in Thousands	Jun. 25, 2021 paymentInstallment	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2024 USD ($) segment installment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment				2
Operating lease asset impairment				$ 4,500
Goodwill impairment				0	$ 0	$ 10,151
Four Technologies, Inc.
Segment Reporting Information [Line Items]
Goodwill impairment			$ 10,200			10,151
Other
Segment Reporting Information [Line Items]
Goodwill impairment						10,151
Other \| Four Technologies, Inc.
Segment Reporting Information [Line Items]
Goodwill impairment			$ 10,200
Restructuring Related Activities \| Progressive Leasing
Segment Reporting Information [Line Items]
Severance costs				18,200	$ 12,500	8,300
Restructuring costs				2,600
Amounts incurred for actual and anticipated costs		$ 2,800
Restructuring Related Activities \| Vive
Segment Reporting Information [Line Items]
Restructuring costs				$ 1,900
Operating lease asset impairment						$ 700
Four Technologies, Inc.
Segment Reporting Information [Line Items]
Number of interest-free installments	4			4

LEASES - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Total Lease Assets	$ 4,035	$ 9,271
Total Lease Liabilities	11,496	$ 15,849
Operating lease impairment charges	$ 4,500

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
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"), a 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 years ended December 31, 2024, 2023 and 2022 as its financial results are not significant to the Company's consolidated financial results.
Basis of Presentation	Basis of Presentation The preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in these 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 elevated inflation, increasing unemployment rates, and/or the impact of tariffs.
Principles of Consolidation	Principles of Consolidation The 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.
Revenue Recognition	Revenue Recognition Lease Revenues and Fees Progressive Leasing provides merchandise, consisting primarily of furniture, appliances, electronics, mobile phones and accessories, jewelry, 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 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 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 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 30% 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 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 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 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 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 collectability 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 collectability 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 collectability is reasonably assured. Annual fees and other fees are recognized as interest and fees on loans receivable in the consolidated statements of earnings.
Lease Merchandise	Lease Merchandise Progressive Leasing's merchandise consists primarily of furniture, appliances, electronics, mobile phones and accessories, jewelry, 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, tariffs, elevated interest rates, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of December 31, 2024. Actual lease merchandise write-offs may differ materially from the allowance as of December 31, 2024. For customer lease agreements that are past due, the Company's policy is to write off lease merchandise after 120 days.
Advertising	Advertising The Company expenses advertising costs as incurred. Total advertising costs amounted to $20.1 million, $17.2 million and $15.8 million for the years ended December 31, 2024, 2023 and 2022, respectively, and are classified within operating expenses in the consolidated statements of earnings.
Stock-Based Compensation	Stock-Based Compensation The Company has stock-based employee compensation plans, which are more fully described in Note 12 to these consolidated financial statements. The fair value of each share of restricted stock units ("RSUs"), restricted stock awards ("RSAs") and performance share units ("PSUs") awarded is equal to the market value of a share of the Company's common stock on the grant date. The Company uses a Monte Carlo simulation model to estimate the grant date fair value of PSUs that will be earned based on the relative performance of the Company's total shareholder return ("TSR") compared to the TSR of the S&P 600 Small Cap Index. The Company estimates the fair value for the options granted on the grant date using a Black-Scholes-Merton option-pricing model. The Company estimates the fair value of awards issued under the Company's employee stock purchase plan ("ESPP") using a series of Black-Scholes pricing models that consider the components of the "lookback" feature of the plan, including the underlying stock, call option and put option. The design of awards issued under the Company's ESPP is described in more detail in Note 12 to these consolidated financial statements.
Deferred Income Taxes	Deferred Income Taxes Deferred income taxes represent primarily temporary differences between the amounts of assets and liabilities for financial and tax reporting purposes. The Company's largest temporary differences arise principally from the use of accelerated depreciation methods on lease merchandise for tax purposes.
Earnings Per Share	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, RSUs, RSAs, PSUs and awards issuable under the Company's ESPP (collectively, "share-based awards") as determined under the treasury stock method.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company classifies highly liquid investments with maturity dates of three months or less when purchased as cash equivalents. The Company maintains its cash and cash equivalents in a limited number of banks. Bank balances typically exceed coverage provided by the Federal Deposit Insurance Corporation. However, due to the size and strength of the banks in which the balances are held, any exposure to loss is believed to be minimal.
Accounts Receivable	Accounts Receivable Accounts receivable consist primarily of receivables due from customers of Progressive Leasing and amounted to $80.2 million and $67.9 million, net of allowances, as of December 31, 2024 and 2023, respectively. The Company maintains an accounts receivable allowance, which primarily relates to its Progressive Leasing operations. 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, elevated interest rates, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of December 31, 2024. Therefore, actual future accounts receivable write-offs may differ materially from the allowance. The provision for uncollectible renewal payments is recorded as a reduction of lease revenues and fees within the 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.
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 $34.9 million and $13.9 million of outstanding receivables from customers of Four as of December 31, 2024 and 2023, 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. Vive 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 six-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 six-month reasonable and supportable forecast period described above, the Company reverts to using historical loss information on a straight-line basis over a three-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 December 31, 2024, management considered qualitative factors such as macroeconomic conditions associated with the impacts from stabilizing inflation and unemployment rates. 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, 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. Vive discontinues recognizing interest and fee revenue 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 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. Four extends or declines credit on an individual transaction basis using its proprietary decisioning platform, without using customer credit ratings. Four instead uses an internal model using factors such as banking data and user history to generate internal proprietary risk scores. Four's risk exposure is limited by smaller transaction values and a short loan duration.
Property and Equipment	Property and Equipment The Company records property and equipment at cost. Depreciation and amortization are computed on a straight-line basis over the estimated useful lives of the respective assets, which range from three to 12 years for leasehold improvements and from one to seven years for other depreciable property and equipment. Costs incurred to develop software for internal use are capitalized and amortized over the estimated useful life of the software, which ranges from three to five years. The Company develops software for use in its Progressive Leasing, Vive, and Four operations and related to other strategic initiatives. The Company uses an agile development methodology in which feature-by-feature updates are made to its software. Certain costs incurred during the application development stage of an internal-use software project are capitalized when management, with the relevant authority, authorizes and commits to funding a feature update and it is probable that the project will be completed and the software will be used to perform the function intended. Capitalization of costs ceases when the feature update is substantially complete and ready for its intended use. All costs incurred during preliminary project and post-implementation project stages are expensed. Generally, the life cycle for each feature update implementation is one to six months. Gains and losses related to dispositions and retirements are recognized as incurred. Maintenance and repairs are also expensed as incurred, and leasehold improvements are capitalized and amortized over the lesser of the lease term or the asset's useful life. Depreciation expense for property and equipment is included in operating expenses in the accompanying consolidated statements of earnings and was $9.1 million, $9.3 million and $11.0 million during the years ended December 31, 2024, 2023 and 2022, respectively. Amortization of previously capitalized internal use software development costs, which is a component of depreciation expense for property and equipment, was $6.8 million, $5.4 million and $5.5 million during the years ended December 31, 2024, 2023 and 2022, respectively. The Company assesses its long-lived assets other than goodwill and other indefinite-lived intangible assets for impairment whenever facts and circumstances indicate that the carrying amount may not be fully recoverable. If it is determined that the carrying amount of an asset is not recoverable, the Company compares the carrying amount of the asset to its fair value as estimated using discounted expected future cash flows, market values or replacement values for similar assets. The amount by which the carrying amount exceeds the fair value of the asset, if any, is recognized as an impairment loss.
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. 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. 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 BNPL industry. We believe the comparable companies we evaluate as marketplace participants serve 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. The Company determined the Four goodwill was partially impaired and recorded a $10.2 million impairment of goodwill during the third quarter of 2022. The remaining carrying value of the Four reporting unit was $7.3 million, which approximated its fair value as of October 1, 2022. 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 BNPL peer market multiples. The Company completed qualitative assessments for its annual goodwill impairment test for both Progressive Leasing and Four as of October 1, 2024. The qualitative assessments did not present any indicators of impairment and the Company concluded that no impairment had occurred. The Company determined that there were no events that occurred or circumstances that changed during the fourth quarter of 2024 that would more likely than not reduce the fair value of Progressive Leasing or Four below their carrying amounts.
Other Intangibles	Other Intangibles Other intangibles represent identifiable intangible assets acquired as a result of the Progressive Leasing, Vive and Four acquisitions, which the Company recorded at the estimated fair value as of the respective acquisition dates. The Company amortized the definite-lived intangible assets acquired as a result of the Vive acquisition on a straight-line basis over five years. The Company amortizes the definite-lived intangible assets acquired as a result of the Progressive Leasing and Four acquisitions on a straight-line basis over periods ranging from two to 12 years for technology, Four's trade name, and merchant relationships. Indefinite-lived intangible assets represent the value of the trade name acquired as part of the Progressive Leasing acquisition. At the date of acquisition, the Company determined that no legal, regulatory, contractual, competitive, economic or other factors limit the useful life of the trade name intangible asset and, therefore, the useful life is considered indefinite. The Company reassesses this conclusion quarterly and continues to believe the useful life of this asset is indefinite. Indefinite-lived intangible assets are not amortized but are subject to an impairment test annually and when events or circumstances indicate that impairment may have occurred. The Company performs the impairment test for its indefinite-lived intangible assets on October 1 in conjunction with its annual goodwill impairment test. The Company completed its indefinite-lived intangible asset impairment test as of October 1, 2024 and concluded that no impairment had occurred.
Cybersecurity Incident	Cybersecurity Incident During the third quarter of 2023, Progressive Leasing 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. Based on the Company's investigation, the Company determined that the data involved in the incident contained a substantial amount of personally identifiable information, including social security numbers, of Progressive Leasing's customers and other individuals. With the assistance of our cybersecurity experts, the Company located the Progressive Leasing customers and other individuals whose information was impacted and notified them, consistent with state and federal requirements. The Company also took a number of additional measures to demonstrate its continued support and commitment to data privacy and protection. During the years ended December 31, 2024 and 2023, the Company incurred $0.3 million and $2.8 million, respectively, for costs related to the cybersecurity incident, net of insurance proceeds. Those costs related primarily to third-party legal and consulting services and credit monitoring services for Progressive Leasing's customers and employees that were impacted. Those costs, net of insurance proceeds, are included within professional services expense as a component of operating expenses in the consolidated statements of earnings. At December 31, 2024 and 2023, the Company had $0.1 million and $0.9 million, respectively, accrued for costs related to the cybersecurity incident, which are included in accounts payable and accrued expenses in the consolidated balance sheets.
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 elections, 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted In March 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-02, Financial Instruments - Credit Losses, Troubled Debt Restructurings and Vintage Disclosures. ASU 2022-04 eliminates the accounting guidance for troubled debt restructurings by creditors while enhancing disclosure requirements for certain restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the amendments require disclosure of current period gross write-offs for financing receivables by year of origination in the vintage disclosures. ASU 2022-02 was effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years for entities. The Company elected to early adopt this standard for the year ended December 31, 2022. The adoption of this update did not have a material impact to the financial statements; however, the Company enhanced its vintage disclosure to include the current period gross write-offs by year of origination within Note 5. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The standard provides temporary guidance to ease the potential burden in accounting for reference rate reform primarily resulting from the discontinuation of the London Interbank Overnight Rate ("LIBOR") or another reference rate expected to be discontinued. Entities may apply the provisions of the new standard as of the beginning of the reporting period when the election is made. The provisions of this update were extended to December 31, 2024, when the reference rate replacement activity is expected to have been completed. The amendments in ASU 2020-04 are elective and apply to all entities that have contracts referencing LIBOR. The new guidance provides an expedient which simplifies accounting analyses under current U.S. GAAP for contract modifications if the change is directly related to a change from LIBOR to a new interest rate index. The Company amended the Revolving Facility agreement to change the reference rate from LIBOR to the Secured Overnight Financing Rate ("SOFR") during 2023. There were no other changes to key terms of the Revolving Facility agreement and the legal expenses incurred in connection with the amendment were immaterial. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reporting Segment Disclosures" ("ASU 2023-07"). ASU 2023-07 requires expanded disclosures, including the disclosure of significant segment expenses and other segment items required to reconcile the difference between segment revenue and segment expenses to segment profit or loss on an annual and interim basis. ASU 2023-07 also requires disclosure of the title and position of the chief operating decision maker, and is required to be applied retrospectively. It is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-07 for the year ended December 31, 2024, and included additional disclosures as required in Note 13. There was no impact on our financial position and/or results of operations. Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The amended guidance will improve the transparency of income tax disclosures by requiring specific categories in the effective tax rate reconciliation and the disclosure of income taxes paid disaggregated by jurisdiction, along with other disclosure requirements. It is effective for fiscal years beginning after December 15, 2024, and can be applied on a prospective or retrospective basis. Early adoption is permitted. We plan to adopt this pronouncement for our fiscal year beginning January 1, 2025, and we do not expect it to have a material impact on our consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses" ("ASU 2024-03"), which requires more detailed disclosures of certain categories of expenses, such as employee compensation, depreciation, and intangible asset amortization that are components of existing expense captions presented on the face of the income statement. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the effect that this standard will have on its financial statement disclosures.

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Vendor Incentives and Rebates Provided to POS Partners (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
POS Partners
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Progressive Leasing expense	$ 34.4	$ 28.5	$ 27.7

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Allowance for Lease Merchandise Write-Offs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of the allowance of leases merchandise write-offs:
Beginning Balance	$ 44,180	$ 47,118	$ 54,367
Net Book Value of Merchandise Written off	(178,778)	(165,153)	(210,160)
Recoveries	8,134	6,965	8,985
Provision for Write-offs	178,338	155,250	193,926
Ending Balance	$ 51,874	$ 44,180	$ 47,118

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Salt Lake City, Utah

FAIR VALUE MEASUREMENT - Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Level 1
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Deferred Compensation Liability	$ 0	$ 0
Level 2
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Deferred Compensation Liability	2,971	2,487
Level 3
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items]
Deferred Compensation Liability	$ 0	$ 0

STOCK-BASED COMPENSATION - Schedule of Performance Share Unit Activity (Details) - Performance Share Units shares in Thousands	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Performance Share Units
Beginning Balance (in shares) \| shares	750
Granted (in shares) \| shares	464
Forfeited (in Shares) \| shares	(51)
Vested (in shares) \| shares	(222)
Performance Factor Adjustment (in shares) \| shares	(205)
Ending Balance (in shares) \| shares	736
Weighted Average Fair Value
Beginning Balance (in dollars per share) \| $ / shares	$ 36.38
Granted (in dollars per share) \| $ / shares	33.11
Forfeited (in dollars per share) \| $ / shares	30.98
Vested (in dollars per share) \| $ / shares	31.20
Performance Factor Adjustment (in dollars per share) \| $ / shares	44.64
Ending Balance (in dollars per share) \| $ / shares	$ 30.54

INDEBTEDNESS - Schedule of Future Principal Maturities Due (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Maturities of Long-term Debt [Abstract]
2025	$ 0
2026	0
2027	0
2028	0
2029	650,000
Thereafter	0
Total	$ 650,000

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Allowance for Lease Merchandise Write-Offs

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


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Beginning Balance	$	44,180	$	47,118	$	54,367
Net Book Value of Merchandise Written off	(178,778)		(165,153)		(210,160)
Recoveries	8,134		6,965		8,985
Provision for Write-offs	178,338		155,250		193,926
Ending Balance	$	51,874	$	44,180	$	47,118

Schedule of Calculation of Dilutive Share-Based Awards

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


	Year Ended December 31,
(Shares In Thousands)	2024	2023	2022
Weighted Average Shares Outstanding	42,584	46,034	51,921
Dilutive Effect of Share-Based Awards	965	516	154
Weighted Average Shares Outstanding Assuming Dilution	43,549	46,550	52,075

Schedule of Components of Accounts Receivable Allowance

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


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Beginning Balance	$	64,180	$	69,264	$	71,233
Net Book Value of Accounts Written Off	(360,790)		(348,729)		(415,344)
Recoveries	37,609		39,019		37,111
Accounts Receivable Provision	330,608		304,626		376,264
Ending Balance	$	71,607	$	64,180	$	69,264

Schedule of Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist of the following:


	December 31,
(In Thousands)	2024		2023
Prepaid Expenses	$	38,621	$	17,768
Prepaid Lease Merchandise	12,540		9,944
Prepaid Software Expenses	9,908		8,624
Unamortized Initial Direct Costs on Lease Agreement Originations	7,883		7,192
Other Assets	9,278		7,183
Prepaid Expenses and Other Assets	$	78,230	$	50,711

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following:


	December 31,
(In Thousands)	2024		2023
Accounts Payable	$	13,117	$	20,237
Accrued Salaries and Benefits	24,206		27,256
Accrued Sales and Personal Property Taxes	11,080		11,684
Income Taxes Payable	3,622		1,153
Uncertain Tax Positions1	785		54,995
Accrued Vendor Rebates	11,704		11,446
Other Accrued Expenses and Liabilities	28,676		24,488
Accounts Payable and Accrued Expenses	$	93,190	$	151,259

1 The uncertain tax position as of December 31, 2023 was 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 8.

INDEBTEDNESS

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

INDEBTEDNESS

Below is a summary of the Company's debt, net of applicable unamortized debt issuance costs:


	December 31,
(In Thousands)	2024		2023
Senior Unsecured Notes, 6.000%, due November 2029	$	600,000	$	600,000
Revolving Facility Outstanding1	50,000		—
Less: Unamortized Debt Issuance Costs	(6,437)		(7,735)
Total Debt, Net of Unamortized Debt Issuance Costs	$	643,563	$	592,265

1 Variable interest rate of 8.25% as of December 31, 2024. Unamortized debt issuance costs related to the Revolving Facility were $3.2 million and $0.9 million as of December 31, 2024 and 2023, respectively. These amounts were included within prepaid expenses in the consolidated balance sheets.

Senior Unsecured Notes

On November 26, 2021, the Company entered into an indenture with the guarantors party thereto and U.S. Bank National Association, as trustee, in connection with the Company's offering of $600 million aggregate principal amount of its 6.00% senior unsecured notes due 2029. The Senior Notes were issued at 100.0% 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 Senior Notes bear an annual interest rate of 6.00% and interest payments are payable semi-annually on May 15 and November 15 of each year, which commenced on May 15, 2022. The Senior Notes will mature on November 15, 2029.

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 in 2022. The remaining proceeds were used for additional share repurchases during the year ended December 31, 2023.

The Senior Notes also became redeemable, in whole or in part, at any time after November 15, 2024, at the redemption prices specified in the indenture, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

Upon the occurrence of a Change of Control (as defined in the indenture), each holder has the right to require the Company to offer to repurchase all or any part of such holder's Senior Notes at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The Company is not required to make mandatory sinking fund payments with respect to the Senior Notes.

Revolving Facility

On November 24, 2020, the Company entered into a credit agreement with a consortium of lenders providing for a $350.0 million senior secured revolving credit facility (the "Revolving Facility"). Under the credit agreement, as amended, all borrowings and commitments of the Revolving Facility will mature or terminate on November 15, 2029. 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. The Company incurred a total of $5.0 million of lender and legal fees related to the Revolving Facility and amendments thereto, which were recorded within prepaid expenses and other assets in the consolidated balance sheets and will be deferred and amortized through the maturity date. The Company had $50.0 million of outstanding borrowings under the Revolving Facility as of December 31, 2024, which was subsequently repaid in full in January 2025.

The Company is a guarantor of the Revolving Facility with Progressive Finance Holdings, LLC, a wholly-owned subsidiary of the Company, as borrower. The Revolving Facility is fully secured and includes (i) a $20.0 million sublimit for the issuance of letters of credit on customary terms and (ii) a $25.0 million sublimit for swingline loans on customary terms. The Company will have the right from time to time to request to increase the size of the Revolving Facility or add certain incremental revolving or term loan facilities (the "Incremental Facilities") in minimum amounts to be agreed upon. The aggregate principal amount of all such Incremental Facilities may not exceed $300.0 million. Borrowings under the Revolving Facility bear interest at a rate per annum equal to, at our option, (i) SOFR plus a margin within the range of 1.50% to 2.50% for revolving loans, based on total leverage, or (ii) the base rate plus the applicable margin, which will be 1.00% lower than the applicable margin for SOFR loans.

The Company pays a commitment fee on unused balances, which ranges from 0.25% to 0.40% as determined by the Company's ratio of total net debt to EBITDA as defined by the Revolving Facility. As of December 31, 2024, the amount available under the Revolving Facility was $300.0 million.

Financial Covenants

The indenture discussed above contains various other covenants and obligations to which the Company and its subsidiaries are subject to while the Senior Notes are outstanding. The covenants in the indenture may limit the extent to which, or the ability of the Company and its subsidiaries to, among other things: (i) incur additional debt and guarantee debt; (ii) pay dividends or make other distributions or repurchase or redeem capital stock; (iii) prepay, redeem or repurchase certain debt; (iv) issue certain preferred stock or similar equity securities; (v) make loans and investments; (vi) sell assets; (vii) incur liens; (viii) enter into transactions with affiliates; (ix) enter into agreements restricting the ability of the Company's subsidiaries to pay dividends; and (x) consolidate, merge or sell all or substantially all of the Company's assets. The indenture also contains customary events of default for transactions of this type and amount.

The Revolving Facility discussed above contains financial covenants, which include requirements that the Company maintain ratios of (i) total net debt to EBITDA as defined by the Revolving Facility of no more than 2.50:1.00 and (ii) consolidated interest coverage of no less than 3.00:1.00. The Company will be in default under the Revolving Facility agreement if it fails to comply with these covenants, and all borrowings outstanding may become due immediately. Under the Revolving Facility, the Company may pay cash dividends in any year so long as, after giving pro forma effect to the dividend payment, the Company maintains compliance with its financial covenants and no event of default has occurred or would result from the payment.

At December 31, 2024, the Company was in compliance with all covenants related to its debt.

Below is a summary of future principal maturities of our Senior Unsecured Notes and Revolving Facility due as of December 31, 2024:


(In Thousands)
2025	$	—
2026	—
2027	—
2028	—
2029	650,000
Thereafter	—
Total	$	650,000

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
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+ Details

STOCK-BASED COMPENSATION - Schedule of Restricted Stock Activity (Details) - Restricted Stock shares in Thousands	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Restricted Stock
Beginning Balance (in shares) \| shares	1,180
Granted (in shares) \| shares	646
Forfeited (in shares) \| shares	(89)
Vested (in shares) \| shares	(593)
Ending Balance (in shares) \| shares	1,144
Weighted Average Fair Value
Beginning Balance (in dollars per share) \| $ / shares	$ 31.47
Granted (in dollars per share) \| $ / shares	30.67
Forfeited (in dollars per share) \| $ / shares	27.07
Vested (in dollars per share) \| $ / shares	36.05
Ending Balance (in dollars per share) \| $ / shares	$ 28.98

SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Thousands		12 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	Feb. 21, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Nov. 03, 2021
Class of Stock [Line Items]
Authorized stock repurchase program, amount	$ 500,000				$ 1,000,000
Reauthorized share repurchase program, extended period (in years)	3 years
Treasury stock, shares (in shares)		41,262,901	38,404,527
Remaining authorized stock repurchase program, amount		$ 361,300
Stock repurchased		$ 139,727	$ 140,855	$ 223,598
Preferred stock, authorized (in shares)		1,000,000
Preferred stock, issued (in shares)		0
Share Repurchase Program
Class of Stock [Line Items]
Treasury stock, shares (in shares)		41,262,901
Common stock repurchased (in shares)		3,480,871	4,691,274	8,720,223
Stock repurchased		$ 138,700	$ 139,600	$ 223,600

FAIR VALUE MEASUREMENT

12 Months Ended

Dec. 31, 2024

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:


	December 31, 2024						December 31, 2023
(In Thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Deferred Compensation Liability	$	—	$	2,971	$	—	$	—	$	2,487	$	—

The Company maintains the PROG Holdings, Inc. Deferred Compensation Plan as described in Note 14 to these consolidated financial statements, 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 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 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 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 2029. The Senior Notes are carried at amortized cost in the 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 fixed-rate debt and the loans receivable held by Vive and Four:


	December 31, 2024						December 31, 2023
(In Thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Senior Notes	$	—	$	573,720	$	—	$	—	$	559,500	$	—
Loans Receivable, Net	$	—	$	—	$	172,892	$	—	$	—	$	148,466

- 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.

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+ Details

COMPENSATION ARRANGEMENTS	12 Months Ended
COMPENSATION ARRANGEMENTS	Dec. 31, 2024
Retirement Benefits [Abstract]
COMPENSATION ARRANGEMENTS	COMPENSATION ARRANGEMENTS Deferred Compensation The Company maintains a Deferred Compensation Plan, which is an unfunded, nonqualified deferred compensation plan for a select group of management, highly compensated employees and non-employee directors. On a pre-tax basis, eligible employees can defer receipt of up to 75% of their base compensation and up to 75% of their incentive pay compensation, and eligible non-employee directors can defer receipt of up to 100% of their cash director fees. Compensation deferred under the plan is recorded as a deferred compensation liability, which is recorded in accounts payable and accrued expenses in the consolidated balance sheets. The deferred compensation plan liability was $3.0 million and $2.5 million as of December 31, 2024 and 2023, respectively. Liabilities under the plan are recorded at amounts due to participants, based on the fair value of participants' selected investments, which consist of equity and debt "mirror" funds. The obligations are unsecured general obligations of the Company and the participants have no right, interest or claim in the assets of the Company, except as unsecured general creditors. The Company has established a rabbi trust to fund obligations under the plan, primarily with cash and money market funds. The value of the assets within the rabbi trust was $2.9 million and $2.6 million as of December 31, 2024 and 2023, respectively, and is included in prepaid expenses and other assets in the consolidated balance sheets. Benefits paid to employees of the Company were not material during the years ended December 31, 2024, 2023 and 2022. Effective January 1, 2018, the Company implemented a discretionary match within the nonqualified Deferred Compensation Plan. The match allows eligible employees to receive 100% matching by the Company on the first 3% of contributions and 50% on the next 2% of contributions for a total of a 4% match. The annual match for an individual employee is not to exceed $13,800, $13,200, and $12,200 in 2024, 2023 and 2022, respectively, and is subject to a three-year cliff vesting schedule. The deferred compensation expense related to the Company's matching contributions was not material for the years ended December 31, 2024, 2023 and 2022. 401(k) Defined Contribution Plan The Company maintains a 401(k) savings plan for all its employees. Effective January 1, 2015, the 401(k) savings plan was amended to allow employees to contribute up to 75% of their annual compensation in accordance with federal contribution limits with 100% matching by the Company on the first 3% of contributions and 50% on the next 2% of contributions for a total of a 4% match. The Company's expense related to the plan was $3.3 million in 2024, $3.2 million in 2023 and $3.2 million in 2022. Employee Stock Purchase Plan See Note 12 to these consolidated financial statements for more information regarding the Company's compensatory ESPP.

- Definition

The entire disclosure for retirement benefits.

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+ Details

INDEBTEDNESS (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Company's Debt, Net of Applicable Unamortized Debt Issuance Costs

Below is a summary of the Company's debt, net of applicable unamortized debt issuance costs:


	December 31,
(In Thousands)	2024		2023
Senior Unsecured Notes, 6.000%, due November 2029	$	600,000	$	600,000
Revolving Facility Outstanding1	50,000		—
Less: Unamortized Debt Issuance Costs	(6,437)		(7,735)
Total Debt, Net of Unamortized Debt Issuance Costs	$	643,563	$	592,265

Schedule of Future Principal Maturities Due

Below is a summary of future principal maturities of our Senior Unsecured Notes and Revolving Facility due as of December 31, 2024:


(In Thousands)
2025	$	—
2026	—
2027	—
2028	—
2029	650,000
Thereafter	—
Total	$	650,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

LOANS RECEIVABLE - Schedule of Credit Quality Indicators of Loan Portfolio (Details)	Dec. 31, 2024	Dec. 31, 2023
Category A
Financing Receivable, Credit Quality Indicator [Line Items]
Loan portfolio per proprietary risk category (as percent)	26.90%	40.50%
Category B
Financing Receivable, Credit Quality Indicator [Line Items]
Loan portfolio per proprietary risk category (as percent)	48.60%	36.80%
Category C
Financing Receivable, Credit Quality Indicator [Line Items]
Loan portfolio per proprietary risk category (as percent)	24.50%	22.70%
600 or Less
Financing Receivable, Credit Quality Indicator [Line Items]
Loan portfolio per FICO score (as percent)	10.30%	7.10%
Between 600 and 700
Financing Receivable, Credit Quality Indicator [Line Items]
Loan portfolio per FICO score (as percent)	76.90%	80.60%
700 or Greater
Financing Receivable, Credit Quality Indicator [Line Items]
Loan portfolio per FICO score (as percent)	12.80%	12.30%

GOODWILL AND INTANGIBLE ASSETS - Schedule of Carrying Amount of Goodwill by Reporting Unit (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning Balance		$ 296,061	$ 296,061	$ 306,212
Impairment of Goodwill		0	0	(10,151)
Changes to Goodwill		0	0
Ending Balance		296,061	296,061	296,061
Progressive Leasing
Goodwill [Roll Forward]
Beginning Balance		288,801	288,801	288,801
Impairment of Goodwill				0
Changes to Goodwill		0	0
Ending Balance		288,801	288,801	288,801
Four Technologies, Inc.
Goodwill [Roll Forward]
Beginning Balance		7,260	7,260	17,411
Impairment of Goodwill	$ (10,200)			(10,151)
Changes to Goodwill		0	0
Ending Balance		$ 7,260	$ 7,260	$ 7,260

- Definition

+ References

+ Details

LOANS RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Schedule of Company’s Loans Receivable, Net

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


	December 31,
(In Thousands)	2024		2023
Loans Receivable, Gross	$	204,327	$	176,845
Unamortized Fees	(9,559)		(9,402)
Loans Receivable, Amortized Cost	194,768		167,443
Allowance for Loan Losses	(47,783)		(40,620)
Loans Receivable, Net of Allowances and Unamortized Fees1	$	146,985	$	126,823

1 Loans Receivable, Net of Allowances and Unamortized Fees attributable to Four was $34.9 million and $13.9 million as of December 31, 2024 and 2023, respectively.

Schedule of Credit Quality Indicators of Loan Portfolio and Amortized Cost

Below is a summary of the credit quality of the Company's loan portfolio as of December 31, 2024 and 2023 by FICO score and proprietary risk category as determined at the time of loan origination:


	December 31,
	2024		2023
Vive - FICO Score Category:
600 or Less	10.3	%	7.1	%
Between 600 and 700	76.9	%	80.6	%
700 or Greater	12.8	%	12.3	%

Four - Proprietary Risk Category:
Category A	26.9	%	40.5	%
Category B	48.6	%	36.8	%
Category C	24.5	%	22.7	%

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


As of December 31, 2024 (In Thousands)	2024		2023 and Prior		Revolving Loans		Total
Vive - FICO Score Category:
600 or Less	$	—	$	—	$	15,118	$	15,118
Between 600 and 700	—		—		112,605		112,605
700 or Greater	—		—		18,690		18,690
Four - Proprietary Risk Category:
Category A	11,596		—		—		11,596
Category B	20,981		—		—		20,981
Category C	10,550		—		—		10,550
No Score Identified	5,228		—		—		5,228
Total Amortized Cost	$	48,355	$	—	$	146,413	$	194,768

Gross Charge-offs by Origination Year for the Year Ended December 31, 2024	$	10,635	$	3,018	$	42,852	$	56,505

Schedule of Aging of the Loans Receivable Gross Balance

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


(Dollar Amounts in Thousands)	December 31,
Aging Category	2024			2023
30-59 Days Past Due	7.7		%	7.3		%
60-89 Days Past Due	3.8		%	3.8		%
90 or More Days Past Due	4.9		%	5.4		%
Past Due Loans Receivable	16.4		%	16.5		%
Current Loans Receivable	83.6		%	83.5		%
Balance of Credit Card Loans on Nonaccrual Status	$	4,793		$	4,482
Balance of Loans Receivable 90 or More Days Past Due and Still Accruing Interest and Fees	$	—		$	—

Schedule of Components of Allowance for Loan Losses

The table below presents the components of the allowance for loan losses:


	Year Ended December 31,
(In Thousands)	2024		2023
Beginning Balance	$	40,620	$	42,428
Provision for Loan Losses	55,950		40,757
Charge-offs	(56,505)		(48,206)
Recoveries	7,718		5,641
Ending Balance	$	47,783	$	40,620

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Apr. 30, 2020	Dec. 31, 2019	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Deferred tax benefit				$ 27,600
Unrecognized tax benefits				800	$ 55,000
Tax benefit recognized in current period				0	0	$ 0
Uncertain tax position, reclassified from taxes payable							$ 44,800
Unrecognized tax benefits, accrued interest				0	8,600
Income tax benefit relating to the uncertain tax position	$ 53,600			51,443	0	0
Uncertain tax benefits that, if recognized, would affect effective tax rate				600	51,200
Recognized net (benefits) expense related to penalties and interest				(8,700)	4,100	$ 3,000
Accrued interest and penalties				100	$ 8,800
Federal Trade Commission Inquiry
Operating Loss Carryforwards [Line Items]
Income tax examination, estimate of possible loss			$ 175,000
Payments for legal settlements		$ 175,000						$ 175,000
State Tax
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards				2,800
Tax credit carryforwards				$ 3,500

COMPENSATION ARRANGEMENTS - 401(k) Defined Contribution Plan (Details) - 401(k) Defined Contribution Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution (as percent)	75.00%
Employer matching contribution, maximum (as percent)	100.00%
Initial employer 401(k) matching contribution to employee (as percent)	4.00%
Employer 401 (k) matching contribution to employee, 50% Maximum	50.00%
Expense related to 401(k) savings plan	$ 3.3	$ 3.2	$ 3.2
Maximum
Defined Benefit Plan Disclosure [Line Items]
Initial employer 401(k) matching contribution to employee (as percent)	3.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Initial employer 401(k) matching contribution to employee (as percent)	2.00%

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

BUSINESS 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"), a 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 years ended December 31, 2024, 2023 and 2022 as its financial results are not significant to the Company's consolidated financial results.

Basis of Presentation

The preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in these 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 elevated inflation, increasing unemployment rates, and/or the impact of tariffs.

Principles of Consolidation

The 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.

Revenue Recognition

Lease Revenues and Fees

Progressive Leasing provides merchandise, consisting primarily of furniture, appliances, electronics, mobile phones and accessories, jewelry, 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 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 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 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 30% 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 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 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 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 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 collectability 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 collectability 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 collectability is reasonably assured. Annual fees and other fees are recognized as interest and fees on loans receivable in the consolidated statements of earnings.

Lease Merchandise

Progressive Leasing's merchandise consists primarily of furniture, appliances, electronics, mobile phones and accessories, jewelry, 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, tariffs, elevated interest rates, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of December 31, 2024. Actual lease merchandise write-offs may differ materially from the allowance as of December 31, 2024. 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 consolidated balance sheets:


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Beginning Balance	$	44,180	$	47,118	$	54,367
Net Book Value of Merchandise Written off	(178,778)		(165,153)		(210,160)
Recoveries	8,134		6,965		8,985
Provision for Write-offs	178,338		155,250		193,926
Ending Balance	$	51,874	$	44,180	$	47,118

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 $34.4 million, $28.5 million, and $27.7 million for such additional consideration to POS partners, for the years ended December 31, 2024, 2023 and 2022, respectively. Expenses related to additional consideration provided to POS partners are classified within operating expenses in the consolidated statements of earnings.

Advertising

The Company expenses advertising costs as incurred. Total advertising costs amounted to $20.1 million, $17.2 million and $15.8 million for the years ended December 31, 2024, 2023 and 2022, respectively, and are classified within operating expenses in the consolidated statements of earnings.

Stock-Based Compensation

The Company has stock-based employee compensation plans, which are more fully described in Note 12 to these consolidated financial statements. The fair value of each share of restricted stock units ("RSUs"), restricted stock awards ("RSAs") and performance share units ("PSUs") awarded is equal to the market value of a share of the Company's common stock on the grant date. The Company uses a Monte Carlo simulation model to estimate the grant date fair value of PSUs that will be earned based on the relative performance of the Company's total shareholder return ("TSR") compared to the TSR of the S&P 600 Small Cap Index. The Company estimates the fair value for the options granted on the grant date using a Black-Scholes-Merton option-pricing model. The Company estimates the fair value of awards issued under the Company's employee stock purchase plan ("ESPP") using a series of Black-Scholes pricing models that consider the components of the "lookback" feature of the plan, including the underlying stock, call option and put option. The design of awards issued under the Company's ESPP is described in more detail in Note 12 to these consolidated financial statements.

Deferred Income Taxes

Deferred income taxes represent primarily temporary differences between the amounts of assets and liabilities for financial and tax reporting purposes. The Company's largest temporary differences arise principally from the use of accelerated depreciation methods on lease merchandise for tax purposes.

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, RSUs, RSAs, PSUs and awards issuable under the Company's ESPP (collectively, "share-based awards") as determined under the treasury stock method. The following table shows the calculation of dilutive share-based awards:


	Year Ended December 31,
(Shares In Thousands)	2024	2023	2022
Weighted Average Shares Outstanding	42,584	46,034	51,921
Dilutive Effect of Share-Based Awards	965	516	154
Weighted Average Shares Outstanding Assuming Dilution	43,549	46,550	52,075

Approximately 440,000, 833,000 and 1,410,000 weighted-average share-based awards were excluded from the computation of earnings per share assuming dilution during the years ended December 31, 2024, 2023 and 2022, respectively, as the awards would have been antidilutive for the periods presented.

Cash and Cash Equivalents

The Company classifies highly liquid investments with maturity dates of three months or less when purchased as cash equivalents. The Company maintains its cash and cash equivalents in a limited number of banks. Bank balances typically exceed coverage provided by the Federal Deposit Insurance Corporation. However, due to the size and strength of the banks in which the balances are held, any exposure to loss is believed to be minimal.

Accounts Receivable

Accounts receivable consist primarily of receivables due from customers of Progressive Leasing and amounted to $80.2 million and $67.9 million, net of allowances, as of December 31, 2024 and 2023, respectively.

The Company maintains an accounts receivable allowance, which primarily relates to its Progressive Leasing operations. 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, elevated interest rates, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of December 31, 2024. Therefore, actual future accounts receivable write-offs may differ materially from the allowance. The provision for uncollectible renewal payments is recorded as a reduction of lease revenues and fees within the 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.

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


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Beginning Balance	$	64,180	$	69,264	$	71,233
Net Book Value of Accounts Written Off	(360,790)		(348,729)		(415,344)
Recoveries	37,609		39,019		37,111
Accounts Receivable Provision	330,608		304,626		376,264
Ending Balance	$	71,607	$	64,180	$	69,264

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 $34.9 million and $13.9 million of outstanding receivables from customers of Four as of December 31, 2024 and 2023, 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. Vive 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 six-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 six-month reasonable and supportable forecast period described above, the Company reverts to using historical loss information on a straight-line basis over a three-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 December 31, 2024, management considered qualitative factors such as macroeconomic conditions associated with the impacts from stabilizing inflation and unemployment rates. 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, 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. Vive discontinues recognizing interest and fee revenue 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 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. Four extends or declines credit on an individual transaction basis using its proprietary decisioning platform, without using customer credit ratings. Four instead uses an internal model using factors such as banking data and user history to generate internal proprietary risk scores. Four's risk exposure is limited by smaller transaction values and a short loan duration.

Property and Equipment

The Company records property and equipment at cost. Depreciation and amortization are computed on a straight-line basis over the estimated useful lives of the respective assets, which range from three to 12 years for leasehold improvements and from one to seven years for other depreciable property and equipment.

Costs incurred to develop software for internal use are capitalized and amortized over the estimated useful life of the software, which ranges from three to five years. The Company develops software for use in its Progressive Leasing, Vive, and Four operations and related to other strategic initiatives. The Company uses an agile development methodology in which feature-by-feature updates are made to its software. Certain costs incurred during the application development stage of an internal-use software project are capitalized when management, with the relevant authority, authorizes and commits to funding a feature update and it is probable that the project will be completed and the software will be used to perform the function intended.

Capitalization of costs ceases when the feature update is substantially complete and ready for its intended use. All costs incurred during preliminary project and post-implementation project stages are expensed. Generally, the life cycle for each feature update implementation is one to six months.

Gains and losses related to dispositions and retirements are recognized as incurred. Maintenance and repairs are also expensed as incurred, and leasehold improvements are capitalized and amortized over the lesser of the lease term or the asset's useful life. Depreciation expense for property and equipment is included in operating expenses in the accompanying consolidated statements of earnings and was $9.1 million, $9.3 million and $11.0 million during the years ended December 31, 2024, 2023 and 2022, respectively. Amortization of previously capitalized internal use software development costs, which is a component of depreciation expense for property and equipment, was $6.8 million, $5.4 million and $5.5 million during the years ended December 31, 2024, 2023 and 2022, respectively.

The Company assesses its long-lived assets other than goodwill and other indefinite-lived intangible assets for impairment whenever facts and circumstances indicate that the carrying amount may not be fully recoverable. If it is determined that the carrying amount of an asset is not recoverable, the Company compares the carrying amount of the asset to its fair value as estimated using discounted expected future cash flows, market values or replacement values for similar assets. The amount by which the carrying amount exceeds the fair value of the asset, if any, is recognized as an impairment loss.

Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist of the following:


	December 31,
(In Thousands)	2024		2023
Prepaid Expenses	$	38,621	$	17,768
Prepaid Lease Merchandise	12,540		9,944
Prepaid Software Expenses	9,908		8,624
Unamortized Initial Direct Costs on Lease Agreement Originations	7,883		7,192
Other Assets	9,278		7,183
Prepaid Expenses and Other Assets	$	78,230	$	50,711

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 consolidated statements of earnings.

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. 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.

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 BNPL industry. We believe the comparable companies we evaluate as marketplace participants serve 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. The Company determined the Four goodwill was partially impaired and recorded a $10.2 million impairment of goodwill during the third quarter of 2022. The remaining carrying value of the Four reporting unit was $7.3 million, which approximated its fair value as of October 1, 2022. 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 BNPL peer market multiples.

The Company completed qualitative assessments for its annual goodwill impairment test for both Progressive Leasing and Four as of October 1, 2024. The qualitative assessments did not present any indicators of impairment and the Company concluded that no impairment had occurred. The Company determined that there were no events that occurred or circumstances that changed during the fourth quarter of 2024 that would more likely than not reduce the fair value of Progressive Leasing or Four below their carrying amounts.

Other Intangibles

Other intangibles represent identifiable intangible assets acquired as a result of the Progressive Leasing, Vive and Four acquisitions, which the Company recorded at the estimated fair value as of the respective acquisition dates. The Company amortized the definite-lived intangible assets acquired as a result of the Vive acquisition on a straight-line basis over five years. The Company amortizes the definite-lived intangible assets acquired as a result of the Progressive Leasing and Four acquisitions on a straight-line basis over periods ranging from two to 12 years for technology, Four's trade name, and merchant relationships.

Indefinite-lived intangible assets represent the value of the trade name acquired as part of the Progressive Leasing acquisition. At the date of acquisition, the Company determined that no legal, regulatory, contractual, competitive, economic or other factors limit the useful life of the trade name intangible asset and, therefore, the useful life is considered indefinite. The Company reassesses this conclusion quarterly and continues to believe the useful life of this asset is indefinite.

Indefinite-lived intangible assets are not amortized but are subject to an impairment test annually and when events or circumstances indicate that impairment may have occurred. The Company performs the impairment test for its indefinite-lived intangible assets on October 1 in conjunction with its annual goodwill impairment test. The Company completed its indefinite-lived intangible asset impairment test as of October 1, 2024 and concluded that no impairment had occurred.

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following:


	December 31,
(In Thousands)	2024		2023
Accounts Payable	$	13,117	$	20,237
Accrued Salaries and Benefits	24,206		27,256
Accrued Sales and Personal Property Taxes	11,080		11,684
Income Taxes Payable	3,622		1,153
Uncertain Tax Positions1	785		54,995
Accrued Vendor Rebates	11,704		11,446
Other Accrued Expenses and Liabilities	28,676		24,488
Accounts Payable and Accrued Expenses	$	93,190	$	151,259

1 The uncertain tax position as of December 31, 2023 was 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 8.

Cybersecurity Incident

During the third quarter of 2023, Progressive Leasing 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. Based on the Company's investigation, the Company determined that the data involved in the incident contained a substantial amount of personally identifiable information, including social security numbers, of Progressive Leasing's customers and other individuals. With the assistance of our cybersecurity experts, the Company located the Progressive Leasing customers and other individuals whose information was impacted and notified them, consistent with state and federal requirements. The Company also took a number of additional measures to demonstrate its continued support and commitment to data privacy and protection.

During the years ended December 31, 2024 and 2023, the Company incurred $0.3 million and $2.8 million, respectively, for costs related to the cybersecurity incident, net of insurance proceeds. Those costs related primarily to third-party legal and consulting services and credit monitoring services for Progressive Leasing's customers and employees that were impacted.

Those costs, net of insurance proceeds, are included within professional services expense as a component of operating expenses in the consolidated statements of earnings. At December 31, 2024 and 2023, the Company had $0.1 million and $0.9 million, respectively, accrued for costs related to the cybersecurity incident, which are included in accounts payable and accrued expenses in the consolidated balance sheets.

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 elections, 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.

Recent Accounting Pronouncements

Adopted

In March 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-02, Financial Instruments - Credit Losses, Troubled Debt Restructurings and Vintage Disclosures. ASU 2022-04 eliminates the accounting guidance for troubled debt restructurings by creditors while enhancing disclosure requirements for certain restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the amendments require disclosure of current period gross write-offs for financing receivables by year of origination in the vintage disclosures. ASU 2022-02 was effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years for entities. The Company elected to early adopt this standard for the year ended December 31, 2022. The adoption of this update did not have a material impact to the financial statements; however, the Company enhanced its vintage disclosure to include the current period gross write-offs by year of origination within Note 5.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The standard provides temporary guidance to ease the potential burden in accounting for reference rate reform primarily resulting from the discontinuation of the London Interbank Overnight Rate ("LIBOR") or another reference rate expected to be discontinued. Entities may apply the provisions of the new standard as of the beginning of the reporting period when the election is made. The provisions of this update were extended to December 31, 2024, when the reference rate replacement activity is expected to have been completed. The amendments in ASU 2020-04 are elective and apply to all entities that have contracts referencing LIBOR. The new guidance provides an expedient which simplifies accounting analyses under current U.S. GAAP for contract modifications if the change is directly related to a change from LIBOR to a new interest rate index. The Company amended the Revolving Facility agreement to change the reference rate from LIBOR to the Secured Overnight Financing Rate ("SOFR") during 2023. There were no other changes to key terms of the Revolving Facility agreement and the legal expenses incurred in connection with the amendment were immaterial.

In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reporting Segment Disclosures" ("ASU 2023-07"). ASU 2023-07 requires expanded disclosures, including the disclosure of significant segment expenses and other segment items required to reconcile the difference between segment revenue and segment expenses to segment profit or loss on an annual and interim basis. ASU 2023-07 also requires disclosure of the title and position of the chief operating decision maker, and is required to be applied retrospectively. It is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-07 for the year ended December 31, 2024, and included additional disclosures as required in Note 13. There was no impact on our financial position and/or results of operations.

Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The amended guidance will improve the transparency of income tax disclosures by requiring specific categories in the effective tax rate reconciliation and the disclosure of income taxes paid disaggregated by jurisdiction, along with other disclosure requirements. It is effective for fiscal years beginning after December 15, 2024, and can be applied on a prospective or retrospective basis. Early adoption is permitted. We plan to adopt this pronouncement for our fiscal year beginning January 1, 2025, and we do not expect it to have a material impact on our consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses" ("ASU 2024-03"), which requires more detailed disclosures of certain categories of expenses, such as employee compensation, depreciation, and intangible asset amortization that are components of existing expense captions presented on the face of the income statement. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the effect that this standard will have on its financial statement disclosures.

STOCK-BASED COMPENSATION - Schedule of Information About Stock Options Outstanding (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, weighted average exercise price (in dollars per share)	$ 33.55	$ 33.25
$20.00-30.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share)	20.00
Exercise price, upper range limit (in dollars per share)	$ 30.00
Options Outstanding (in shares)	497,680
Options outstanding, weighted average remaining contractual life (in years)	6 years 7 months 9 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 26.38
Options Exercisable (in shares)	292,571
Options exercisable, weighted average exercise price (in dollars per share)	$ 26.44
30.01-40.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share)	30.01
Exercise price, upper range limit (in dollars per share)	$ 40.00
Options Outstanding (in shares)	88,344
Options outstanding, weighted average remaining contractual life (in years)	5 years 2 months 1 day
Options outstanding, weighted average exercise price (in dollars per share)	$ 34.78
Options Exercisable (in shares)	88,344
Options exercisable, weighted average exercise price (in dollars per share)	$ 34.78
40.01-50.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share)	40.01
Exercise price, upper range limit (in dollars per share)	$ 50.00
Options Outstanding (in shares)	255,495
Options outstanding, weighted average remaining contractual life (in years)	4 years 9 months 14 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 46.70
Options Exercisable (in shares)	255,495
Options exercisable, weighted average exercise price (in dollars per share)	$ 46.70
50.01-60.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share)	50.01
Exercise price, upper range limit (in dollars per share)	$ 60.00
Options Outstanding (in shares)	5,304
Options outstanding, weighted average remaining contractual life (in years)	6 years 4 months 2 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 53.55
Options Exercisable (in shares)	5,304
Options exercisable, weighted average exercise price (in dollars per share)	$ 53.55
20.00-60.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share)	20.00
Exercise price, upper range limit (in dollars per share)	$ 60.00
Options Outstanding (in shares)	846,823
Options outstanding, weighted average remaining contractual life (in years)	5 years 10 months 28 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 33.55
Options Exercisable (in shares)	641,714
Options exercisable, weighted average exercise price (in dollars per share)	$ 35.88

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, net of allowances	$ 71,607	$ 64,180
Lease merchandise, net of accumulated depreciation and allowances	440,831	423,466
Loans receivable, net of allowances and unamortized fees	$ 57,342	$ 50,022
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)	41,262,901	38,404,527

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Interest and Fees on Loans Receivable (Details)	12 Months Ended
	Dec. 31, 2024
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 (in months)	24 months
Credit terms, minimum payment required, outstanding loan balance (as percent)	3.50%
Credit Card Loans \| Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant fee discount (as percent)	3.00%
Financing receivable promotional fees discount (as percent)	1.00%
Credit terms, interest rate, fixed and variable (as percent)	27.00%
Credit Card Loans \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant fee discount (as percent)	30.00%
Financing receivable promotional fees discount (as percent)	8.00%
Credit terms, interest rate, fixed and variable (as percent)	35.99%

SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Total Assets by Segment and Revenue, Significant Segment Expenses, Other Segment Items, and Profit and Loss Information

The following is a summary of total assets by segment. The amount within Other is primarily comprised of the assets of Four.


	December 31,
(In Thousands)	2024		2023
Assets:
Progressive Leasing	$	1,282,585	$	1,286,587
Vive	137,762		141,028
Other	93,420		63,640
Total Assets	$	1,513,767	$	1,491,255

Following is a summary of capital expenditures by segment:


	Year Ended December 31,
(In Thousands)	2024		2023		2022
Capital Expenditures:1
Progressive Leasing	$	5,615	$	6,160	$	5,835
Vive	298		601		926
Other	2,403		2,855		2,913
Total Capital Expenditures	$	8,316	$	9,616	$	9,674
1Capital expenditures primarily consists of internal-use software, as well as computer hardware and furniture and equipment.


	Year Ended December 31, 2024
(In Thousands)	Progressive Leasing		Vive		Other		Total
Revenues:
Lease Revenues and Fees1	$	2,366,489	$	—	$	—	$	2,366,489
Interest and Fees on Loans Receivable2	—		64,415		32,592		97,007
Total Revenues	2,366,489		64,415		32,592		2,463,496

Significant Segment Expenses3
Depreciation of Lease Merchandise	1,621,101		—		—		1,621,101
Provision for Lease Merchandise Write-Offs	178,338		—		—		178,338
Selling, General and Administrative	309,859		25,456		28,227		363,542
Provision for Loan Losses	—		37,311		18,639		55,950
Total	2,109,298		62,767		46,866		2,218,931

Other Segment Items:
Depreciation and Amortization4	23,546		643		2,788		26,977
Restructuring Expenses	18,210		1,853		2,628		22,691
Interest Expense5	38,816		—		636		39,452
Interest Income5	(8,163)		—		—		(8,163)
Total	72,409		2,496		6,052		80,957

Earnings (Loss) Before Income Tax (Benefit) Expense	$	184,782	$	(848)	$	(20,326)	$	163,608



1 Revenue within the score of ASC 842, "Leases."
2 Revenue within the scope of ASC 310, "Receivables." Also included within Interest and Fees on Loans Receivable in for the Other category is $11.4 million of subscription fee and interchange revenue within the scope of ASC 606, "Revenue from Contracts with Customers."
3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
4 Excludes depreciation of lease merchandise, which is not included in the CODM's measure of depreciation and amortization.
5 Intersegment interest income and expense of $0.6 million are included within the amounts shown.


	Year Ended December 31, 2023
(In Thousands)	Progressive Leasing		Vive		Other		Total
Revenues:
Lease Revenues and Fees1	$	2,333,588	$	—	$	—	$	2,333,588
Interest and Fees on Loans Receivable2	—		68,912		5,764		74,676
Total Revenues	2,333,588		68,912		5,764		2,408,264

Significant Segment Expenses3
Depreciation of Lease Merchandise	1,576,303		—		—		1,576,303
Provision for Lease Merchandise Write-Offs	155,250		—		—		155,250
Selling, General and Administrative	315,088		26,932		23,742		365,762
Provision for Loan Losses	—		36,097		4,660		40,757

Total	2,046,641		63,029		28,402		2,138,072

Other Segment Items:
Depreciation and Amortization4	29,165		745		2,122		32,032
Restructuring Expenses	12,533		—		—		12,533
Interest Expense5	38,859		593		—		39,452
Interest Income5	(9,881)		—		(165)		(10,046)
Total	70,676		1,338		1,957		73,971

Earnings (Loss) Before Income Tax Expense	$	216,271	$	4,545	$	(24,595)	$	196,221



1 Revenue within the score of ASC 842, "Leases."
2 Revenue within the scope of ASC 310, "Receivables."
3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
4 Excludes depreciation of lease merchandise, which is not included in the CODM's measure of depreciation and amortization.
5 Intersegment interest income and expense of $0.8 million are included within the amounts shown.


	Year Ended December 31, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total
Revenues:
Lease Revenues and Fees1	$	2,523,785	$	—	$	—	$	2,523,785
Interest and Fees on Loans Receivable2	—		70,911		3,130		74,041
Total Revenues	2,523,785		70,911		3,130		2,597,826

Significant Segment Expenses3
Depreciation of Lease Merchandise	1,757,730		—		—		1,757,730
Provision for Lease Merchandise Write-Offs	193,926		—		—		193,926
Selling, General and Administrative	321,266		24,225		20,799		366,290
Provision for Loan Losses	—		35,640		5,592		41,232
Impairment of Goodwill	—		—		10,151		10,151
Total	2,272,922		59,865		36,542		2,369,329

Other Segment Items:
Depreciation and Amortization4	31,374		795		1,682		33,851
Restructuring Expenses	8,343		658		—		9,001
Interest Expense5	38,675		398		—		39,073
Interest Income5	(1,672)		—		—		(1,672)
Total	76,720		1,851		1,682		80,253

Earnings (Loss) Before Income Tax Expense	$	174,143	$	9,195	$	(35,094)	$	148,244



1 Revenue within the score of ASC 842, "Leases."
2 Revenue within the scope of ASC 310, "Receivables."
3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
4 Excludes depreciation of lease merchandise, which is not included in the CODM's measure of depreciation and amortization.
5 Intersegment interest income and expense of $0.4 million are included within the amounts shown.

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2020	Dec. 31, 2020	Dec. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Accounts Payable			$ 13,117	$ 20,237
Accrued Salaries and Benefits			24,206	27,256
Accrued Sales and Personal Property Taxes			11,080	11,684
Income Taxes Payable			3,622	1,153
Uncertain Tax Position			785	54,995
Accrued Vendor Rebates			11,704	11,446
Other Accrued Expenses and Liabilities			28,676	24,488
Accounts Payable and Accrued Expenses			$ 93,190	$ 151,259
Federal Trade Commission Inquiry
Income Tax Contingency [Line Items]
Payments for legal settlements	$ 175,000	$ 175,000

STOCK-BASED COMPENSATION - Schedule of Assumptions Used in Fair Value Calculation of TSR Awards (Details) - Performance Share Units	12 Months Ended
	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Volatility	53.20%
Risk-Free Rate of Interest	4.40%
Expected Dividend Yield	1.60%
Performance Period (Years)	2 years 10 months 2 days

- 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 (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Charges Recorded within Operating Expenses

The following tables summarize restructuring charges recorded within operating expenses in the consolidated statements of earnings for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
	2024								2023		2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing			Total		Progressive Leasing		Vive		Total
Severance	$	4,253	$	1,853	$	628	$	6,734	$	2,958		$	2,958	$	5,611	$	—	$	5,611
Right-of-Use Asset Impairment1	4,515		—		—		4,515		—			—		2,285		655		2,940
Property and Equipment Impairment	1,503		—		—		1,503		—			—		309		3		312
Early Contract Termination Costs	7,750		—		2,000		9,750		9,575			9,575		—		—		—
Other Restructuring Activities	189		—		—		189		—			—		138		—		138
Total Restructuring Expenses	$	18,210	$	1,853	$	2,628	$	22,691	$	12,533		$	12,533	$	8,343	$	658	$	9,001

Schedule of Accrual and Payment Activity Related to Restructuring Program

The following table summarizes the accrual and payment activity related to the restructuring program for the years ended December 31, 2024, 2023 and 2022:


(In Thousands)	Severance		Early Contract Termination Costs		Other Restructuring Activities		Total
Balance at January 1, 2022	$	—	$	—	$	—	$	—
Charges	5,611		—		138		5,749
Cash Payments	(2,550)		—		(96)		(2,646)
Balance at December 31, 2022	3,061		—		42		3,103
Charges	2,958		9,600		(25)		12,533
Cash Payments	(3,344)		(7,100)		(17)		(10,461)
Balance at December 31, 2023	2,675		2,500		—		5,175
Charges	6,734		9,750		189		16,673
Cash Payments	(7,084)		(10,650)		(189)		(17,923)
Balance at December 31, 2024	$	2,325	$	1,600	$	—	$	3,925

INCOME TAXES - Schedule of Significant Components of Deferred Income Tax Liabilities and Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Income Tax Liabilities:
Property and Equipment	$ 71,878	$ 103
Goodwill and Other Intangibles	51,913	657
Investment in Partnership	0	131,002
Operating Lease Right-of-Use Assets	1,003	173
Total Deferred Income Tax Liabilities	124,794	131,935
Deferred Income Tax Assets:
Accrued Liabilities and Other Reserves	44,924	9,769
Customer Deposits and Advance Payments	9,035	38
Operating Lease Liabilities	2,845	191
Tax Credit Carryforwards	7,833	0
Net Operating Loss Carryforwards	4,162	0
Stock-Based Compensation	5,677	0
Other, Net	8,460	25,795
Total Deferred Income Tax Assets	82,936	35,793
Less: Valuation Allowance	(5,990)	(5,715)
Net Deferred Income Tax Liabilities	$ 47,848	$ 101,857

STOCK-BASED COMPENSATION - Employee Stock Purchase Plan (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	May 09, 2018	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, maximum purchases per subscription period (in shares)	500
Aggregate number of shares of common stock issued or transferred under the incentive stock awards plan (in shares)		3,285,467
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP purchase price of common stock, percent of market price, on first and last day of trading date (as percent)	85.00%
Fixed contribution rate (as percent)	10.00%
Maximum contribution amount	$ 25
Compensation cost for ESPP		$ 300	$ 400	$ 400
Number of shares issued under the ESPP (in shares)		44,811	67,720	81,784
Weighted average grant date fair value (in dollars per share)		$ 27.56	$ 18.72	$ 14.06
Aggregate number of shares of common stock issued or transferred under the incentive stock awards plan (in shares)		342,955

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Weighted-Average Fair Value of Options Granted and Assumptions Used in Black-Scholes-Merton Option Pricing Model

The weighted-average fair value of options granted and the weighted-average assumptions used in the Black-Scholes-Merton option pricing model for such grants were as follows:


	2023			2022
Dividend Yield	—		%	—		%
Expected Volatility	51.6		%	43.0		%
Risk-free Interest Rate	4.3		%	1.5		%
Expected Term (in years)	4.5			4.5
Weighted-average Fair Value of Stock Options Granted	$	11.66		$	10.89

Schedule of Information About Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2024:


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding December 31, 2024	Weighted Average Remaining Contractual Life (in Years)	Weighted Average Exercise Price		Number Exercisable December 31, 2024	Weighted Average Exercise Price
$20.00-30.00	497,680	6.61	$	26.38	292,571	$	26.44
30.01-40.00	88,344	5.17	34.78		88,344	34.78
40.01-50.00	255,495	4.79	46.70		255,495	46.70
50.01-60.00	5,304	6.34	53.55		5,304	53.55
20.00-60.00	846,823	5.91	33.55		641,714	35.88

Schedule of Stock Option Activity

The table below summarizes option activity for the year ended December 31, 2024:


	Options (In Thousands)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Thousands)		Weighted Average Fair Value
Outstanding at January 1, 2024	914	$	33.25

Forfeited/Expired	(12)	44.14
Exercised	(55)	25.96
Outstanding at December 31, 2024	847	33.55		5.91	$	8,566	$	12.68
Expected to Vest	204	26.30		7.81	3,254		11.38
Exercisable at December 31, 2024	642	35.88		5.30	5,290		13.09

Schedule of Restricted Stock Activity

The following table summarizes information about restricted stock activity during 2024:


	Restricted Stock (In Thousands)	Weighted Average Fair Value
Non-vested at January 1, 2024	1,180	$	31.47
Granted	646	30.67
Forfeited	(89)	27.07
Vested	(593)	36.05
Non-vested at December 31, 2024	1,144	28.98

Schedule of Assumptions Used in Fair Value Calculation of TSR Awards

The table below summarizes the assumptions used in the fair value calculation of the TSR awards, which were granted beginning in 2024:


	2024
Expected Volatility	53.2	%
Risk-Free Rate of Interest	4.4	%
Expected Dividend Yield	1.6	%
Performance Period (Years)	2.84

Schedule of Performance Share Unit Activity

The following table summarizes information about performance share unit activity during 2024:


	Performance Share Units (In Thousands)	Weighted Average Fair Value
Non-vested at January 1, 2024	750	$	36.38
Granted	464	33.11
Forfeited	(51)	30.98
Vested	(222)	31.20
Performance Factor Adjustment	(205)	44.64
Non-vested at December 31, 2024	736	30.54

GOODWILL AND INTANGIBLE ASSETS - Schedule of Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross	$ 268,723	$ 268,723
Accumulated Amortization	(247,948)	(230,059)
Net	20,775	38,664
Acquired Internal-Use Software
Finite-Lived Intangible Assets [Line Items]
Gross	14,000	14,000
Accumulated Amortization	(14,000)	(14,000)
Net	0	0
Technology
Finite-Lived Intangible Assets [Line Items]
Gross	72,550	72,550
Accumulated Amortization	(71,350)	(68,662)
Net	1,200	3,888
Merchant Relationships
Finite-Lived Intangible Assets [Line Items]
Gross	181,586	181,586
Accumulated Amortization	(162,187)	(147,104)
Net	19,399	34,482
Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Gross	587	587
Accumulated Amortization	(411)	(293)
Net	$ 176	$ 294

- 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.

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