Conns (CONNQ) 10-Q 9 Jun 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2020	May 28, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	CONNS INC
Entity Central Index Key	0001223389
Current Fiscal Year End Date	--01-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Apr. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		29,020,752

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Current assets:
Cash and cash equivalents	$ 287,337	$ 5,485
Restricted cash (includes VIE balances of $71,188 and $73,214, respectively)	73,455	75,370
Customer accounts receivable - current	752,960
Accounts Receivable, Allowance for Credit Loss, Current	204,791
Customer accounts receivable, net of allowances (includes VIE balances of $288,330 and $393,764, respectively)	548,169	673,742
Other accounts receivable	52,864	68,753
Inventories	204,923	219,756
Income taxes receivable	22,397	4,315
Prepaid expenses and other current assets	7,725	11,445
Total current assets	1,196,870	1,058,866
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $252,013 and $420,454, respectively)	530,385	663,761
Property and equipment, net	186,655	173,031
Operating lease assets	264,230	242,457
Deferred income taxes	46,746	18,599
Other assets	12,400	12,055
Total assets	2,237,286	2,168,769
Current liabilities:
Current finance lease obligations	772	605
Accounts payable	61,437	48,554
Accrued compensation and related expenses	10,066	10,795
Accrued expenses	65,329	52,295
Operating lease liability - current	31,367	35,390
Income taxes payable	3,187	2,394
Deferred revenues and other credits	13,221	12,237
Total current liabilities	185,379	162,270
Operating lease liability - non current	355,868	329,081
Long-term debt and finance lease obligations (includes VIE balances of $607,920 and $768,121, respectively)	1,172,987	1,025,535
Other long-term liabilities	27,243	24,703
Total liabilities	1,741,477	1,541,589
Commitments and contingencies
Stockholders’ equity:
Preferred stock ($0.01 par value, 1,000,000 shares authorized; none issued or outstanding)	0	0
Common stock ($0.01 par value, 100,000,000 shares authorized; 32,493,973 and 32,125,055 shares issued, respectively)	325	321
Treasury Stock, Value	(66,290)	(66,290)
Additional paid-in capital	123,831	122,513
Retained earnings	437,943	570,636
Total stockholders’ equity	495,809	627,180
Total liabilities and stockholders’ equity	$ 2,237,286	$ 2,168,769

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Restricted cash, VIE balance	$ 73,455	$ 75,370
Customer accounts receivable, net of allowances (includes VIE balances of $288,330 and $393,764, respectively)	548,169	673,742
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $252,013 and $420,454, respectively)	530,385	$ 663,761
Long-term debt	$ 611,498
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	32,493,973	32,125,055
Treasury Stock, Shares	3,485,441	3,485,441
Variable Interest Entity [Member]
Restricted cash, VIE balance	$ 71,188	$ 73,214
Customer accounts receivable, net of allowances (includes VIE balances of $288,330 and $393,764, respectively)	288,330	393,764
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $252,013 and $420,454, respectively)	252,013	420,454
Long-term debt	607,920	768,121
Warehouse Notes [Member] | Variable Interest Entity [Member]
Current maturities of long-term debt and capital lease obligations, VIE balance	$ 0	$ 0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Revenues:
Other Income	$ 86,830	$ 91,533
Total revenues	317,160	353,512
Total Net Sales	230,330	261,979
Costs and expenses:
Cost of goods sold	147,014	157,228
Selling, general and administrative expense	113,007	117,914
Provision for bad debts	117,326	40,046
Charges and credits	2,055	(695)
Total costs and expenses	379,402	314,493
Operating income (loss)	(62,242)	39,019
Interest expense	14,993	14,497
Income (loss) before income taxes	(77,235)	24,522
Provision (benefit) for income taxes	(21,033)	5,013
Net income (loss)	$ (56,202)	$ 19,509
Income (loss) per share:
Basic (in dollars per share)	$ (1.95)	$ 0.61
Diluted (in dollars per share)	$ (1.95)	$ 0.60
Weighted average common shares outstanding:
Basic (in shares)	28,822,396	31,882,003
Diluted (in shares)	28,822,396	32,443,884
Product [Member]
Revenues:
Total revenues	$ 207,198	$ 234,445
RSA Commission [Member]
Revenues:
Total revenues	20,101	24,024
Service [Member]
Revenues:
Total revenues	$ 3,031	$ 3,510

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Balance (in shares) at Jan. 31, 2019		31,788,162
Balance at Jan. 31, 2019	$ 619,975	$ 318	$ 111,185	$ 508,472
Exercise of options and vesting of restricted stock, net of tax (in shares)		136,206
Exercise of options and vesting of restricted stock, net of withholding tax	(1,240)	$ 1	(1,241)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		12,158
Issuance of common stock under Employee Stock Purchase Plan	198		198
Stock-based compensation	3,217		3,217
Net income (loss)	19,509			19,509
Balance (in shares) at Apr. 30, 2019		31,936,526
Balance at Apr. 30, 2019	647,819	$ 319	113,359	534,141
Balance (in shares) at Jan. 31, 2020		32,125,055			(3,485,441)
Balance at Jan. 31, 2020	627,180	$ 321	122,513	570,636	$ (66,290)
Exercise of options and vesting of restricted stock, net of tax (in shares)		321,468
Exercise of options and vesting of restricted stock, net of withholding tax	(1,285)	$ 3	(1,288)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		47,450
Issuance of common stock under Employee Stock Purchase Plan	177	$ 1	176
Stock-based compensation	2,430		2,430
Net income (loss)	(56,202)			(56,202)
Balance (in shares) at Apr. 30, 2020		32,493,973			(3,485,441)
Balance at Apr. 30, 2020	$ 495,809	$ 325	$ 123,831	$ 437,943	$ (66,290)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (56,202)	$ 19,509
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	9,817	8,852
Change in right-of-use asset	7,534	6,739
Amortization of debt issuance costs	2,049	1,773
Provision for bad debts and uncollectible interest	137,456	52,330
Stock-based compensation expense	2,430	3,217
Professional Fees	2,055	0
Costs and Impairment Charges Related to Store Closings		(695)
Deferred income taxes	(5,975)	1,224
Tenant improvement allowances received from landlords	3,969	4,807
Change in operating assets and liabilities:
Customer accounts receivable	22,999	(8,352)
Other accounts receivables	15,722	1,500
Inventories	14,833	6,932
Other assets	2,985	(7,164)
Accounts payable	12,884	(13,852)
Accrued expenses	4,258	(11,149)
Operating leases	(10,514)	(4,499)
Income taxes	(14,748)	(12,212)
Deferred revenues and other credits	972	700
Net cash provided by operating activities	152,524	49,660
Cash flows from investing activities:
Purchases of property and equipment	(16,682)	(13,119)
Net cash used in investing activities	(16,682)	(13,119)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	0	381,790
Payments on asset-backed notes	(161,534)	(95,214)
Borrowings under revolving credit facility	591,424	323,138
Payments on revolving credit facility	(284,524)	(589,638)
Payments on warehouse facility	0	(28,951)
Payments of debt issuance costs and amendment fees	(4)	(3,442)
Proceeds from stock issued under employee benefit plans	177	403
Tax payments associated with equity-based compensation transactions	(1,285)	(1,454)
Other	(159)	(300)
Net cash provided by (used in) financing activities	144,095	(13,668)
Net change in cash, cash equivalents and restricted cash	279,937	22,873
Cash, cash equivalents and restricted cash, beginning of period	80,855	64,937
Cash, cash equivalents and restricted cash, end of period	360,792	87,810
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new finance lease liabilities	757	436
Right-of-use assets obtained in exchange for new operating lease liabilities	38,239	22,030
Property and equipment purchases not yet paid	11,965	5,594
Supplemental cash flow data:
Cash interest paid	8,608	8,605
Cash income taxes paid (refunded), net	$ (310)	$ 15,999

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Business. Conn’s, Inc., a Delaware corporation, is a holding company with no independent assets or operations other than its investments in its subsidiaries. References to “we,” “our,” “us,” “the Company,” “Conn’s” or “CONN” refer to Conn’s, Inc. and, as apparent from the context, its subsidiaries. Conn’s is a leading specialty retailer that offers a broad selection of quality, branded durable consumer goods and related services in addition to proprietary credit solutions for its core credit-constrained consumers. We operate an integrated and scalable business through our retail stores and website. Our complementary product offerings include furniture and mattresses, home appliances, consumer electronics and home office products from leading global brands across a wide range of price points. Our credit offering provides financing solutions to a large, under-served population of credit-constrained consumers who typically have limited credit alternatives. We operate two reportable segments: retail and credit. Our retail stores bear the “Conn’s HomePlus” name with all of our stores providing the same products and services to a common customer group. Our stores follow the same procedures and methods in managing their operations. Our retail business and credit business are operated independently from each other. The credit segment is dedicated to providing short- and medium-term financing to our retail customers. The retail segment is not involved in credit approval decisions or collection efforts. Our management evaluates performance and allocates resources based on the operating results of the retail and credit segments. Basis of Presentation. The accompanying unaudited Condensed Consolidated Financial Statements of Conn’s, Inc. and its wholly-owned subsidiaries, including its Variable Interest Entities (“VIEs”), have been prepared by management in accordance with U.S. generally accepted accounting principles (“GAAP”) and prevailing industry practice for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at January 31, 2020 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2020 (the “2020 Form 10-K”) filed with the United States Securities and Exchange Commission (the “SEC”) on April 14, 2020. Fiscal Year. Our fiscal year ends on January 31. References to a fiscal year refer to the calendar year in which the fiscal year ends. Principles of Consolidation. The Condensed Consolidated Financial Statements include the accounts of Conn’s, Inc. and its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. Variable Interest Entities. VIEs are consolidated if the Company is the primary beneficiary. The primary beneficiary of a VIE is the party that has (i) the power to direct the activities that most significantly impact the performance of the VIE and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We securitize customer accounts receivables by transferring the receivables to various bankruptcy-remote VIEs. We retain the servicing of the securitized portfolio and have a variable interest in each corresponding VIE by holding the residual equity. We have determined that we are the primary beneficiary of each respective VIE because (i) our servicing responsibilities for the securitized portfolio give us the power to direct the activities that most significantly impact the performance of the VIE and (ii) our variable interest in the VIE gives us the obligation to absorb losses and the right to receive residual returns that potentially could be significant. As a result, we consolidate the respective VIEs within our Condensed Consolidated Financial Statements. Refer to Note 5, Debt and Financing Lease Obligations , and Note 7, Variable Interest Entities , for additional information. Use of Estimates. The preparation of financial statements in accordance with GAAP requires management to make informed judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ, even significantly, from these estimates. Management evaluates its estimates and related assumptions regularly, including those related to the allowance for doubtful accounts and allowances for no-interest option credit programs, which are particularly sensitive given the size of our customer portfolio balance. Cash and Cash Equivalents. As of April 30, 2020 and January 31, 2020 , cash and cash equivalents included cash and credit card deposits in transit. Credit card deposits in transit included in cash and cash equivalents were $4.4 million and $4.0 million as of April 30, 2020 and January 31, 2020 , respectively. Restricted Cash. The restricted cash balance as of April 30, 2020 and January 31, 2020 includes $57.6 million and $59.7 million , respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $13.9 million and $13.9 million , respectively, of cash held by the VIEs as additional collateral for the asset-backed notes. Customer Accounts Receivable. Customer accounts receivable reported in the Condensed Consolidated Balance Sheet includes total receivables managed, including both those transferred to the VIEs and those not transferred to the VIEs. Customer accounts receivable are recognized at the time the customer takes possession of the product. As discussed in more detail below, Recent Accounting Pronouncements Adopted, effective February 1, 2020 the Company adopted ASC 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . Under the newly adopted standard, expected lifetime losses on customer accounts receivable are recognized upon origination through an allowance for credit losses account that is deducted from the customer account receivable balance and presented net. Customer accounts receivable include the net of unamortized deferred fees charged to customers and origination costs. Customer receivables are considered delinquent if a payment has not been received on the scheduled due date. Accounts that are delinquent more than 209 days as of the end of a month are charged-off against the allowance for doubtful accounts along with interest accrued subsequent to the last payment. In an effort to mitigate losses on our accounts receivable, we may make loan modifications to a borrower experiencing financial difficulty. In our role as servicer, we may also make modifications to loans held by the VIEs. The loan modifications are intended to maximize net cash flow after expenses and avoid the need to exercise legal remedies available to us. We may extend or “re-age” a portion of our customer accounts, which involves modifying the payment terms to defer a portion of the cash payments due. Our re-aging of customer accounts does not change the interest rate or the total principal amount due from the customer and typically does not reduce the monthly contractual payments. To a much lesser extent, we may provide the customer the ability to refinance their account, which typically does not change the interest rate or the total principal amount due from the customer but does reduce the monthly contractual payments and extend the term. We consider accounts that have been re-aged in excess of three months or refinanced as Troubled Debt Restructurings (“TDR” or “Restructured Accounts”). On March 27, 2020 the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law to address the economic impact of the COVID-19 pandemic. Under the CARES Act, modifications deemed to be COVID-19 related are not considered a TDR if the loan was current (not more than 30 days past due as of March 31, 2020) and the deferral was executed between April 1, 2020 and the earlier of 60 days after the termination of the COVID-19 national emergency or December 31, 2020. In response to the CARES Act, the Company implemented two short-term deferral programs for our customers. The carrying value of the customer receivables on accounts which were current prior to receiving a COVID-19 related deferment was $50.5 million as of April 30, 2020. Interest Income on Customer Accounts Receivable. Interest income, which includes interest income and amortization of deferred fees and origination costs, is recorded using the interest method and is reflected in finance charges and other revenues. Typically, interest income is recorded until the customer account is paid off or charged-off and we provide an allowance for estimated uncollectible interest. We reserve for interest that is more than 60 days past due. Any contractual interest income received from customers in excess of the interest income calculated using the interest method is recorded as deferred revenue on our balance sheets. At April 30, 2020 and January 31, 2020, there was $10.4 million and $10.6 million , respectively, of deferred interest included in deferred revenues and other credits and other long-term liabilities. The deferred interest will ultimately be brought into income as the accounts pay off or charge-off. We offer a 12-month no-interest option program. If the customer is delinquent in making a scheduled monthly payment or does not repay the principal in full by the end of the no-interest option program period (grace periods are provided), the account does not qualify for the no-interest provision and none of the interest earned is waived. Interest income is recognized based on estimated accrued interest earned to date on all no-interest option finance programs with an offsetting reserve for those customers expected to satisfy the requirements of the program based on our historical experience. We recognize interest income on TDR accounts using the interest income method, which requires reporting interest income equal to the increase in the net carrying amount of the loan attributable to the passage of time. Cash proceeds and other adjustments are applied to the net carrying amount such that it equals the present value of expected future cash flows. We place accounts in non-accrual status when legally required. Payments received on non-accrual loans are applied to principal and reduce the balance of the loan. At April 30, 2020 and January 31, 2020, the carrying value of customer accounts receivable in non-accrual status was $14.8 million and $12.5 million , respectively. At April 30, 2020 and January 31, 2020, the carrying value of customer accounts receivable that were past due 90 days or more and still accruing interest totaled $153.3 million and $132.7 million , respectively. At April 30, 2020 and January 31, 2020, the carrying value of customer accounts receivable in a bankruptcy status that were less than 60 days past due of $11.4 million and $12.1 million , respectively, were included within the customer receivables balance carried in non-accrual status. Debt Issuance Costs. Costs that are direct and incremental to debt issuance are deferred and amortized to interest expense using the effective interest method over the expected life of the debt. All other costs related to debt issuance are expensed as incurred. We present debt issuance costs associated with long-term debt as a reduction of the carrying amount of the debt. Unamortized costs related to the Revolving Credit Facility, as defined in Note 5, Debt and Financing Lease Obligations , are included in other assets on our Condensed Consolidated Balance Sheet and were $3.2 million and $3.5 million as of April 30, 2020 and January 31, 2020 , respectively. Income Taxes. For the three months ended April 30, 2020 and 2019 , we utilized the estimated annual effective tax rate based on our estimated fiscal year 2021 and 2020 pre-tax income, respectively, in determining income tax expense. Provision for income taxes for interim periods is based on an estimated annual income tax rate, adjusted for discrete tax items. As a result, our interim effective tax rates may vary significantly from the statutory tax rate and the annual effective tax rate. For the three months ended April 30, 2020 and 2019 , the effective tax rate was 27.2% and 20.4% , respectively. The primary factor affecting the increase in our effective tax rate for the three months ended April 30, 2020 was the impact of the tax loss carryback provisions of the CARES Act. Stock-based Compensation. During the three months ended April 30, 2020, the Company granted performance stock awards (“PSUs”) and restricted stock awards (“RSUs”). The awards had a combined aggregate grant date fair value of $7.2 million . The PSUs will vest after the Company’s fiscal year 2024, if at all, upon certification by the compensation committee of the satisfaction of certain total shareholder return conditions over the three fiscal years commencing with the Company’s fiscal year 2021. The majority of the RSUs will vest, if at all, over periods of three to four years from the date of grant. Stock-based compensation expense is recorded, net of estimated forfeitures, for share-based compensation awards over the requisite service period using the straight-line method. An adjustment is made to compensation cost for any difference between the estimated forfeitures and the actual forfeitures related to the awards. For equity-classified share-based compensation awards, expense is recognized based on the grant-date fair value. For equity-classified share-based compensation awards, expense is recognized based on the grant-date fair value. For stock option grants, we use the Black-Scholes model to determine fair value. For grants of restricted stock units, the fair value of the grant is the market value of our stock at the date of issuance. For grants of performance-based restricted stock units, the fair value is the market value of our stock at the date of issuance adjusted for the market condition using a Monte Carlo model. The following table sets forth the RSUs and PSUs granted during the three months ended April 30, 2020 and 2019 : Three Months Ended 2020 2019 RSUs (1) 520,421 3,429 PSUs (2) 270,828 — Total stock awards granted 791,249 3,429 Aggregate grant date fair value (in thousands) $ 7,207 $ 71 (1) The majority of RSUs issued during the three months ended April 30, 2020 and 2019 are scheduled to vest ratably over periods of three to four years from the date of grant. (2) The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the three months ended April 30, 2020 included expected volatility of 60.0% , an expected term of 3 years and risk-free interest rate of 1.42% . No dividend yield was included in the weighted-average assumptions for the PSUs granted during the three months ended April 30, 2020 . For the three months ended April 30, 2020 and 2019 , stock-based compensation expense was $2.4 million and $3.2 million , respectively. Earnings (loss) per Share. Basic earnings (loss) per share for a particular period is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effects of any stock options, RSUs and PSUs, which are calculated using the treasury-stock method. The following table sets forth the shares outstanding for the earnings per share calculations: Three Months Ended (in thousands) 2020 2019 Weighted-average common shares outstanding - Basic 28,822,396 31,882,003 Dilutive effect of stock options, PSUs and RSUs — 561,881 Weighted-average common shares outstanding - Diluted 28,822,396 32,443,884 For the three months ended April 30, 2020 and 2019 , the weighted average number of stock options, RSUs and PSUs not included in the calculation due to their anti-dilutive effect, was 1,832,902 and 859,970 , respectively. Fair Value of Financial Instruments. 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. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to subjectivity associated with the inputs to fair value measurements as follows: • Level 1 – Inputs represent unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (for example, quoted market prices for similar assets or liabilities in active markets or quoted market prices for identical assets or liabilities in markets not considered to be active, inputs other than quoted prices that are observable for the asset or liability, or market-corroborated inputs). • Level 3 – Inputs that are not observable from objective sources such as our internally developed assumptions used in pricing an asset or liability (for example, an estimate of future cash flows used in our internally developed present value of future cash flows model that underlies the fair-value measurement). In determining fair value, we use observable market data when available, or models that incorporate observable market data. When we are required to measure fair value and there is not a market-observable price for the asset or liability or for a similar asset or liability, we use the cost or income approach depending on the quality of information available to support management’s assumptions. The cost approach is based on management’s best estimate of the current asset replacement cost. The income approach is based on management’s best assumptions regarding expectations of future net cash flows and discounts the expected cash flows using a commensurate risk-adjusted discount rate. Such evaluations involve significant judgment, and the results are based on expected future events or conditions such as sales prices, economic and regulatory climates, and other factors, most of which are often outside of management’s control. However, we believe assumptions used reflect a market participant’s view of long-term prices, costs, and other factors and are consistent with assumptions used in our business plans and investment decisions. In arriving at fair-value estimates, we use relevant observable inputs available for the valuation technique employed. If a fair-value measurement reflects inputs at multiple levels within the hierarchy, the fair-value measurement is characterized based on the lowest level of input that is significant to the fair-value measurement. The fair value of cash and cash equivalents, restricted cash and accounts payable approximate their carrying amounts because of the short maturity of these instruments. The fair value of customer accounts receivable, determined using a Level 3 discounted cash flow analysis, approximates their carrying value, net of the allowance for doubtful accounts. The fair value of our Revolving Credit Facility approximates carrying value based on the current borrowing rate for similar types of borrowing arrangements. At April 30, 2020 , the fair value of the Senior Notes outstanding, which was determined using Level 1 inputs, was $155.6 million as compared to the carrying value of $227.0 million , excluding the impact of the related discount. At April 30, 2020 , the fair value of the asset backed notes was $553.9 million as compared to the carrying value of $611.5 million and was determined using Level 2 inputs based on inactive trading activity. Deferred Revenue. Deferred revenue related to contracts with customers consists of deferred customer deposits and deferred RSA administration fees. During the three months ended April 30, 2020 , we recognized $1.2 million of revenue for customer deposits deferred as of January 31, 2020 . During the three months ended April 30, 2020 , we recognized $1.1 million of revenue for RSA administrative fees deferred as of January 31, 2020 . Leases. In response to the COVID-19 pandemic, during the three months ended April 30, 2020, we began renegotiating our leases as a means of preserving liquidity. On April 10, 2020 the Financial Accounting Standards Board (“FASB”) issued guidance for lease concessions entered into in response to the COVID-19 pandemic that allows lessees to make an election not to evaluate whether a lease concession provided by a lessor should be accounted for as a lease modification if it does not result in a substantial increase in the rights of the lessor or the obligations of the lessee. We have elected to apply this allowance to our COVID-19 lease concessions. As a result, for the three months ended April 30, 2020, there were no material modifications to our leases. Recent Accounting Pronouncements Adopted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASC 326”). ASU 2016-13 replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. Under the new guidance entities must reserve an allowance for expected credit losses over the life of the loan. The measurement of expected credit losses is applicable to financial assets measured at amortized cost. The allowance for credit losses is a valuation account that is deducted from the customer account receivable’s amortized cost basis to present the net amount expected to be collected. Customer receivables are charged off against the allowance when management deems an account to be uncollectible. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses . ASU 2019-04 requires that the current estimate of recoveries are included in the allowance for credit losses. Effective February 1, 2020, the Company adopted ASU 2016-13 and ASU 2019-04 using the modified retrospective approach. The Company has reviewed its entire portfolio of assets recognized on the balance sheet as of January 31, 2020 and identified Customer Accounts Receivables as the materially impacted asset in-scope of ASC 326. The risk of credit losses from the remaining portfolio of assets was concluded to be immaterial. Upon adoption of ASC 326 the Company recorded a net decrease to retained earnings of $76.5 million as of February 1, 2020. Results for reporting periods prior to February 1, 2020 are not adjusted and continue to be reported in accordance with the Company’s historic accounting policies under previously applicable GAAP. The allowance for credit losses is measured on a collective (pool) basis where similar risk characteristics exist. Upon adoption of ASC 326, the Company elected to maintain the pools of customer accounts receivable that were previously accounted for under ASC 310 (Non-TDR Non-Reaged, Non-TDR Reaged, and TDR). These pools were segmented based on shared risk attributes, which include the borrower’s FICO score, product class, length of customer relationship and delinquency status. The allowance for credit losses was determined for each pool and added to the pool’s carrying amount to establish a new amortized cost basis. Changes to the allowance for credit losses after adoption are recorded through provision expense. We have elected to use a risk-based, pool-level segmentation framework to calculate the expected loss rate. This framework is based on our historical gross charge-off history. In addition to adjusted historical gross charge-off rates, estimates of post-charge-off recoveries, including cash payments from customers, sales tax recoveries from taxing jurisdictions, and payments received under credit insurance and repair service agreement (“RSA”) policies are also considered. We also consider forward-looking economic forecasts based on a statistical analysis of economic factors (specifically, forecast of unemployment rates over the reasonable and supportable forecasting period). To the extent that situations and trends arise which are not captured in our model, management will layer on additional qualitative adjustments. Pursuant to ASC 326 requirements, the Company has initially determined a 24-month reasonable and supportable forecast period for the Customer Accounts Receivable portfolio. We estimate losses beyond the 24-month forecast period based on historic loss rates experienced over the life of our historic loan portfolio by loan pool type. We will revisit our measurement methodology and assumption annually, or more frequently if circumstances warrant. The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as a result of the adoption of ASC 326 were as follows: Impact of Adoption of ASC 326 (in thousands) Balance at January 31, 2020 Adjustments due to ASC 326 Balance at February 1, 2020 Assets Customer accounts receivable $ 673,742 $ (49,701 ) $ 624,041 Long-term portion of customer accounts receivable 663,761 (48,962 ) 614,799 Deferred Income Taxes 18,599 22,172 40,771 Stockholders’ Equity Retained Earnings $ 570,636 $ (76,491 ) $ 494,145 Changes due to Securities and Exchange Commission Regulation S-X Rules 13-01 and 13-02. In March 2020, the Securities and Exchange Commission (“SEC”) amended Regulation S-X to create Rules 13-01 and 13-02. These new rules reduce and simplify financial disclosure requirements for issuers and guarantors of registered debt offerings. Previously, with limited exceptions, a parent entity was required to provide detailed disclosures with regard to guarantors of registered debt offerings within the footnotes to the consolidated financial statements. Under the new regulations, disclosure exceptions have been expanded and required disclosures may be provided within the Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations rather than in the notes to the financial statements. Further, summarized guarantor balance sheet and income statements are permitted, with the requirement to provide guarantor cash flow statements eliminated. Summarized guarantor financial statements only need be disclosed for the current fiscal year rather than all years presented in the financial statements as was previously required. The guidance will become effective for filings on or after January 4, 2021, with early adoption permitted. The Company has elected to early adopt the new regulations as of and for the three months ended April 30, 2020. Our summarized guarantor financial statements are now presented in Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Customer Accounts Receivable

Customer Accounts Receivable	3 Months Ended
	Apr. 30, 2020
Receivables [Abstract]
Customer Accounts Receivable	Customer Accounts Receivable Customer accounts receivable consisted of the following: (in thousands) April 30, January 31, Customer accounts receivable (1) $ 1,499,965 $ 1,602,037 Deferred fees and origination costs, net (14,950 ) (15,746 ) Allowance for no-interest option credit programs (13,208 ) (14,984 ) Allowance for uncollectible interest (29,305 ) (23,662 ) Carrying value of customer accounts receivable 1,442,502 1,547,645 Allowance for credit losses (2) (363,948 ) (210,142 ) Carrying value of customer accounts receivable, net of allowance for credit losses 1,078,554 1,337,503 Short-term portion of customer accounts receivable, net (548,169 ) (673,742 ) Long-term customer accounts receivable, net $ 530,385 $ 663,761 Carrying Value (in thousands) April 30, January 31, Customer accounts receivable 60+ days past due (3) $ 192,501 $ 193,797 Re-aged customer accounts receivable (4) 465,820 455,704 Restructured customer accounts receivable (5) 224,081 211,857 (1) As of April 30, 2020 and January 31, 2020, the customer accounts receivable balance included $42.5 million and $43.7 million , respectively, in interest receivable. Net of the allowance for uncollectible interest, interest receivable outstanding as of April 30, 2020 and January 31, 2020 was $13.2 million and $20.0 million , respectively. (2) Our current methodology to estimate expected credit losses utilized macroeconomic forecasts as of April 30, 2020, which incorporated the estimated potential impact that the global outbreak COVID-19 may have on the U.S. economy. Our forecast utilized economic projections from a major rating service reflecting an increase in unemployment with some offsetting benefits related to the positive impacts of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). As a result, our allowance for loan loss increased $65.5 million for the three months ended April 30, 2020. The allowance for credit losses as of January 31, 2020 is based on an incurred loss model, which reserves for expected credit losses over the next twelve months. (3) As of April 30, 2020 and January 31, 2020 , the carrying value of customer accounts receivable past due one day or greater was $441.0 million and $527.0 million , respectively. These amounts include the 60+ days past due balances shown above. (4) The re-aged carrying value as of April 30, 2020 and January 31, 2020 includes $123.7 million and $131.4 million in carrying value that are both 60+ days past due and re-aged. (5) The restructured carrying value as of April 30, 2020 and January 31, 2020 includes $63.2 million and $64.8 million in carrying value that are both 60+ days past due and restructured. The allowance for credit losses included in the current and long-term portion of customer accounts receivable, net as shown in the Condensed Consolidated Balance Sheet were as follows: (in thousands) Three Months Ended April 30, 2020 Customer accounts receivable - current $ 752,960 Allowance for credit losses for customer accounts receivable - current (204,791 ) Customer accounts receivable, net of allowances 548,169 Customer accounts receivable - non current 718,847 Allowance for credit losses for customer accounts receivable - non current (188,462 ) Long-term portion of customer accounts receivable, net of allowances 530,385 Total customer accounts receivable, net $ 1,078,554 The following presents the activity in our allowance for credit losses and uncollectible interest for customer receivables: Three Months Ended April 30, 2020 Three Months Ended April 30, 2019 (in thousands) Customer Customer Allowance at beginning of period, prior to adoption of ASC 326 $ 145,680 $ 88,123 $ 233,803 $ 147,123 $ 67,756 $ 214,879 Impact of adoption ASC 326 95,136 3,526 98,662 — — — Provision for credit loss expense (1) 109,065 28,224 137,289 35,275 16,925 52,200 Principal charge-offs (2) (46,351 ) (18,501 ) (64,852 ) (39,723 ) (14,809 ) (54,532 ) Interest charge-offs (12,314 ) (5,300 ) (17,614 ) (9,099 ) (3,392 ) (12,491 ) Recoveries (2)(3)(4) 3,988 1,977 5,965 4,714 1,757 6,471 Allowance at end of period $ 295,204 $ 98,049 $ 393,253 $ 138,290 $ 68,237 $ 206,527 Average total customer portfolio balance $ 1,333,197 $ 224,565 $ 1,557,762 $ 1,368,094 $ 190,228 $ 1,558,322 (1) Includes provision for uncollectible interest, which is included in finance charges and other revenues. (2) Charge-offs include the principal amount of losses (excluding accrued and unpaid interest). For the three months ended April 30, 2019, recoveries include the principal amount collected during the period for previously charged-off balances. For the three months ended April 30, 2020, recoveries include the principal amount collected during the period for previously charged-off balances and changes in expected future recoveries. Net charge-offs are calculated as the net of principal charge-offs and recoveries. (3) The increase in bad debt charge-offs, net of recoveries, was primarily due to higher risk loans originated during the first half of fiscal year 2020 and an increase in new customer mix. (4) For periods prior to fiscal year 2021, recoveries only included the principal amount collected during the period for previously charged-off balances. We manage our Customer Accounts Receivable portfolio using delinquency as a key credit quality indicator. The following table presents the delinquency distribution of the carrying value of customer accounts receivable by year of origination. The information is updated as of April 30, 2020 : Delinquency Bucket 2020 2019 2018 2017 Prior Total % of Total (in thousands) Current $ 209,196 $ 520,586 $ 220,700 $ 48,025 $ 3,041 $ 1,001,548 69.5 % 1-30 24,977 100,147 56,044 17,624 1,792 200,584 13.9 % 31-60 7,036 21,169 13,854 5,123 687 47,869 3.3 % 61-90 3,937 18,003 9,810 4,060 652 36,462 2.5 % 91+ — 77,232 52,382 22,477 3,948 156,039 10.8 % Total $ 245,146 $ 737,137 $ 352,790 $ 97,309 $ 10,120 $ 1,442,502 100.0 %

Charges and Credits

Charges and Credits	3 Months Ended
	Apr. 30, 2020
Charges and Credits [Abstract]
Charges and Credits	3. Charges and Credits Charges and credits consisted of the following: Three Months Ended (in thousands) 2020 2019 Professional fees $ 2,055 $ — Facility relocation costs — (695 ) Total charges and credits $ 2,055 $ (695 ) During the three months ended April 30, 2020 , we recognized $2.1 million in professional fees associated with non-recurring expenses relating to fiscal year 2020. During the three months ended April 30, 2019 , we recognized a $0.7 million gain from increased sublease income related to the consolidation of our corporate headquarters.

Finance Charges and Other Reven

Finance Charges and Other Revenue	3 Months Ended
	Apr. 30, 2020
Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]
Finance Charges and Other Revenues	Finance Charges and Other Revenues Finance charges and other revenues consisted of the following: Three Months Ended (in thousands) 2020 2019 Interest income and fees $ 81,843 $ 84,017 Insurance income 4,752 7,314 Other revenues 235 202 Total finance charges and other revenues $ 86,830 $ 91,533 Interest income and fees and insurance income are derived from the credit segment operations, whereas other revenues are derived from the retail segment operations. Insurance income is comprised of sales commissions from third-party insurance companies that are recognized when coverage is sold and retrospective income paid by the insurance carrier if insurance claims are less than earned premiums. During the three months ended April 30, 2020 and 2019 , interest income and fees reflected provisions for uncollectible interest of $20.1 million and $12.3 million , respectively. The amounts included in interest income and fees related to TDR accounts for the three months ended April 30, 2020 and 2019 were $9.5 million and $8.1 million , respectively.

Debt and Financing Lease Obliga

Debt and Financing Lease Obligations	3 Months Ended
	Apr. 30, 2020
Debt Disclosure [Abstract]
Debt and Financing Lease Obligations	Debt and Financing Lease Obligations Debt and financing lease obligations consisted of the following: (in thousands) April 30, January 31, Revolving Credit Facility $ 336,000 $ 29,100 Senior Notes 227,000 227,000 2017-B VIE Asset-backed Class C Notes 35,421 59,655 2018-A VIE Asset-backed Class A Notes 23,016 34,112 2018-A VIE Asset-backed Class B Notes 13,880 20,572 2018-A VIE Asset-backed Class C Notes 13,880 20,572 2019-A VIE Asset-backed Class A Notes 46,906 76,241 2019-A VIE Asset-backed Class B Notes 60,239 64,750 2019-A VIE Asset-backed Class C Notes 58,155 62,510 2019-B VIE Asset-backed Class A Notes 191,191 265,810 2019-B VIE Asset-backed Class B Notes 85,540 85,540 2019-B VIE Asset-backed Class C Notes 83,270 83,270 Financing lease obligations 5,807 5,209 Total debt and financing lease obligations 1,180,305 1,034,341 Less: Discount on debt (1,264 ) (1,404 ) Deferred debt issuance costs (5,282 ) (6,797 ) Current maturities of long-term debt and financing lease obligations (772 ) (605 ) Long-term debt and financing lease obligations $ 1,172,987 $ 1,025,535 Senior Notes. On July 1, 2014, we issued $250.0 million of unsecured Senior Notes due July 2022 bearing interest at 7.25% (the “Senior Notes”), pursuant to an indenture dated July 1, 2014 (as amended, the “Indenture”), among Conn’s, Inc., its subsidiary guarantors (the “Guarantors”) and U.S. Bank National Association, as trustee. The effective interest rate of the Senior Notes after giving effect to the discount and issuance costs is 7.8% . The Indenture restricts the Company’s and certain of its subsidiaries’ ability to: (i) incur indebtedness; (ii) pay dividends or make other distributions in respect of, or repurchase or redeem, our capital stock (“restricted payments”); (iii) prepay, redeem or repurchase debt that is junior in right of payment to the notes; (iv) make loans and certain investments; (v) sell assets; (vi) incur liens; (vii) enter into transactions with affiliates; and (viii) consolidate, merge or sell all or substantially all of our assets. These covenants are subject to a number of important exceptions and qualifications. During any time when the Senior Notes are rated investment grade by either of Moody’s Investors Service, Inc. or Standard & Poor’s Ratings Services and no default (as defined in the Indenture) has occurred and is continuing, many of such covenants will be suspended and we will cease to be subject to such covenants during such period. As of April 30, 2020 , $162.0 million would have been free from the restricted payments covenant contained in the Indenture. Events of default under the Indenture include customary events, such as a cross-acceleration provision in the event that we fail to make payment of other indebtedness prior to the expiration of any applicable grace period or upon acceleration of indebtedness prior to its stated maturity date in an amount exceeding $25.0 million , as well as in the event a judgment is entered against us in excess of $25.0 million that is not discharged, bonded or insured. Asset-backed Notes. From time to time, we securitize customer accounts receivables by transferring the receivables to various bankruptcy-remote VIEs. In turn, the VIEs issue asset-backed notes secured by the transferred customer accounts receivables and restricted cash held by the VIEs. Under the terms of the securitization transactions, all cash collections and other cash proceeds of the customer receivables go first to the servicer and the holders of issued notes, and then to us as the holder of non-issued notes, if any, and residual equity. We retain the servicing of the securitized portfolios and receive a monthly fee of 4.75% (annualized) based on the outstanding balance of the securitized receivables. In addition, we, rather than the VIEs, retain all credit insurance income together with certain recoveries related to credit insurance and RSAs on charge-offs of the securitized receivables, which are reflected as a reduction to net charge-offs on a consolidated basis. The asset-backed notes were offered and sold to qualified institutional buyers pursuant to the exemptions from registration provided by Rule 144A under the Securities Act of 1933. If an event of default were to occur under the indenture that governs the respective asset-backed notes, the payment of the outstanding amounts may be accelerated, in which event the cash proceeds of the receivables that otherwise might be released to the residual equity holder would instead be directed entirely toward repayment of the asset-backed notes, or if the receivables are liquidated, all liquidation proceeds could be directed solely to repayment of the asset-backed notes as governed by the respective terms of the asset-backed notes. The holders of the asset-backed notes have no recourse to assets outside of the VIEs. Events of default include, but are not limited to, failure to make required payments on the asset-backed notes or specified bankruptcy-related events. The asset-backed notes outstanding as of April 30, 2020 consisted of the following: (dollars in thousands) Asset-Backed Notes Original Principal Amount Original Net Proceeds (1) Current Principal Amount Issuance Date Maturity Date Contractual Interest Rate Effective Interest Rate (2) 2017-B Class C Notes $ 78,640 $ 77,843 $ 35,421 12/20/2017 11/15/2022 5.95% 6.44% 2018-A Class A Notes 219,200 217,832 23,016 8/15/2018 1/17/2023 3.25% 5.11% 2018-A Class B Notes 69,550 69,020 13,880 8/15/2018 1/17/2023 4.65% 5.26% 2018-A Class C Notes 69,550 68,850 13,880 8/15/2018 1/17/2023 6.02% 6.61% 2019-A Class A Notes 254,530 253,026 46,906 4/24/2019 10/16/2023 3.40% 4.85% 2019-A Class B Notes 64,750 64,276 60,239 4/24/2019 10/16/2023 4.36% 4.38% 2019-A Class C Notes 62,510 61,898 58,155 4/24/2019 10/16/2023 5.29% 5.09% 2019-B Class A Notes 317,150 315,417 191,191 11/26/2019 6/17/2024 2.66% 4.06% 2019-B Class B Notes 85,540 84,916 85,540 11/26/2019 6/17/2024 3.62% 3.98% 2019-B Class C Notes 83,270 82,456 83,270 11/26/2019 6/17/2024 4.60% 4.98% Total $ 1,304,690 $ 1,295,534 $ 611,498 (1) After giving effect to debt issuance costs. (2) For the three months ended April 30, 2020 , and inclusive of the impact of changes in timing of actual and expected cash flows. Revolving Credit Facility. On May 23, 2018, Conn’s, Inc. and certain of its subsidiaries (the “Borrowers”) entered into the Fourth Amended and Restated Loan and Security Agreement (the “Fourth A&R Loan and Security Agreement”), with certain lenders, which provides for a $650.0 million asset-based revolving credit facility (the “Revolving Credit Facility”) under which credit availability is subject to a borrowing base and a maturity date of May 23, 2022. Loans under the Revolving Credit Facility bore interest, at our option, at a rate equal to LIBOR plus the applicable margin ranging from 2.50% to 3.25% per annum (depending on a pricing grid determined by our total leverage ratio) or the alternate base rate plus a margin ranging from 1.50% to 2.25% per annum (depending on a pricing grid determined by our total leverage ratio). The alternate base rate was the greatest of the prime rate, the federal funds effective rate plus 0.5% , or LIBOR for a 30-day interest period plus 1.0% . We also pay an unused fee on the portion of the commitments that is available for future borrowings or letters of credit at a rate ranging from 0.25% to 0.50% per annum, depending on the average outstanding balance and letters of credit of the Revolving Credit Facility in the immediately preceding quarter. The weighted-average interest rate on borrowings outstanding and including unused line fees under the Revolving Credit Facility was 4.9% for the three months ended April 30, 2020 . The Revolving Credit Facility provides funding based on a borrowing base calculation that includes customer accounts receivable and inventory and provides for a $40.0 million sub-facility for letters of credit to support obligations incurred in the ordinary course of business. The obligations under the Revolving Credit Facility are secured by substantially all assets of the Company, excluding the assets of the VIEs. As of April 30, 2020 , we had immediately available borrowing capacity of $151.7 million under our Revolving Credit Facility, net of standby letters of credit issued of $2.5 million . We also had $159.8 million that could have become available under our Revolving Credit Facility were we to grow the balance of eligible customer receivables and total eligible inventory balances. On March 18, 2020, the Company completed the borrowing of an additional $275.0 million under its $650.0 million Revolving Credit Facility, maturing in May 23, 2022, as a precautionary measure to increase its cash position and maintain financial flexibility in response to the COVID-19 pandemic. On June 5, 2020 we entered into the Third Amendment to our Revolving Credit Facility (the “Third Amendment”). Under the Third amendment, loans under the Revolving Credit Facility bear interest, at our option, at a rate of LIBOR plus a margin ranging from 3.00% to 3.75% per annum (depending on a pricing grid determined by our total leverage ratio) or the alternate base rate plus a margin ranging from 2.00% to 2.75% per annum (depending on a pricing grid determined by our total leverage ratio). The alternate base rate is a rate per annum equal to the greatest of the prime rate announced by Bank of America, N.A., the federal funds rate plus 0.5% , or LIBOR for a 30-day interest period plus 1.0% . The Revolving Credit Facility places restrictions on our ability to incur additional indebtedness, grant liens on assets, make distributions on equity interests, dispose of assets, make loans, pay other indebtedness, engage in mergers, and other matters. The Revolving Credit Facility restricts our ability to make dividends and distributions unless no event of default exists and a liquidity test is satisfied. Subsidiaries of the Company may pay dividends and make distributions to the Company and other obligors under the Revolving Credit Facility without restriction. We are restricted from making distributions, including repayments of the Senior Notes or other distributions, as a result of the Revolving Credit Facility distribution and payment restrictions. The Revolving Credit Facility contains customary default provisions, which, if triggered, could result in acceleration of all amounts outstanding under the Revolving Credit Facility. Debt Covenants. On June 5, 2020 we entered into the Third Amendment, which waived the interest coverage covenants beginning with the first quarter of fiscal year 2021 and continuing until the date on which the Company delivers financial statements and a compliance certificate for the fourth quarter of fiscal year 2021. See Note 9, Subsequent Events , for further details. After giving effect to the foregoing amendment, as of April 30, 2020, we were in compliance with the covenants in our Revolving Credit Facility. If we were to breach certain covenants under our Revolving Credit Facility in the future, that breach might trigger a default under our Revolving Credit Facility, which, if not remedied, would require a waiver from the lenders under our Revolving Credit Facility or an amendment to our Revolving Credit Facility in order for us to avoid an event of default. There can be no assurances that, in the event of such a covenant breach, we would be able to obtain the necessary waivers or amendments to remain in compliance with the covenants in our Revolving Credit Facility. A summary of the significant financial covenants that govern our Revolving Credit Facility, as amended, compared to our actual compliance status at April 30, 2020 is presented below: Actual Required Minimum/ Maximum Interest Coverage Ratio for the quarter must equal or exceed minimum Not Tested 1.00:1.00 Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum Not Tested 1.50:1.00 Leverage Ratio must not exceed maximum 2.31:1.00 4.00:1.00 ABS Excluded Leverage Ratio must not exceed maximum 1.20:1.00 2.00:1.00 Capital Expenditures, net, must not exceed maximum $35.3 million $100.0 million All capitalized terms in the above table are defined in the Revolving Credit Facility and may or may not match directly to the financial statement captions in this document. The covenants are calculated quarterly, except for capital expenditures, which is calculated for a period of four consecutive fiscal quarters, as of the end of each fiscal quarter.

Contingencies

Contingencies	3 Months Ended
	Apr. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Securities Litigation. On May 15, 2020, a putative securities class action lawsuit was filed against us and two of our executive officers in the United States District Court for the Southern District of Texas, captioned Uddin v. Conn’s, Inc., et al. , No. 4:20-1705 (“Uddin Action”). The plaintiff alleges that the defendants made false and misleading statements or failed to disclose material adverse facts about our business and operations. Plaintiff alleges violations of sections 10(b) and 20(a) of the Securities and Exchange Act of 1934 and Rule 10b-5 promulgated thereunder and seeks to certify a class of all persons and entities that purchased or acquired Conn’s securities between September 3, 2019 and December 9, 2019. The complaint does not specify the amount of damages sought. We intend to vigorously defend our interests in the Uddin Action. It is not possible at this time to predict the timing or outcome of this litigation, and we cannot reasonably estimate the possible loss or range of possible loss from these claims. On April 2, 2018, MicroCapital Fund, LP, MicroCapital Fund, Ltd., and MicroCapital LLC (collectively, “MicroCapital”) filed a lawsuit against us and certain of our former executive officers in the U.S. District Court for the Southern District of Texas, Cause No. 4:18-CV-01020 (the “MicroCapital Action”). The plaintiffs in this action allege that the defendants made false and misleading statements or failed to disclose material facts about our credit and underwriting practices, accounting and internal controls. Plaintiffs allege violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, Texas and Connecticut common law fraud, and Texas common law negligent misrepresentation against all defendants; as well as violations of section 20A of the Securities Exchange Act of 1934; and Connecticut common law negligent misrepresentation against certain defendants arising from plaintiffs’ purchase of Conn’s, Inc. securities between April 3, 2013 and February 20, 2014. The complaint does not specify the amount of damages sought. The Court previously stayed the MicroCapital Action pending resolution of other outstanding litigation (In re Conn’s Inc. Sec. Litig., Cause No. 14-CV-00548 (S.D. Tex.) (the “Consolidated Securities Action”)), which was settled in October 2018. After that settlement, the stay was lifted, and the defendants filed a motion to dismiss plaintiff’s complaint in the MicroCapital Action on November 6, 2018. Briefing on the motion to dismiss was completed on January 16, 2019. On July 26, 2019, the magistrate judge to which defendants’ motion to dismiss had been assigned issued a report and recommendation, recommending that defendants’ motion to dismiss the complaint be granted in part and denied in part. Both parties filed timely objections to that report and recommendation on August 9, 2019. On September 25, 2019, the district court adopted the magistrate judge’s report and recommendation, which permitted MicroCapital to file an amended complaint, which MicroCapital filed on October 30, 2019. On November 8, 2019, the parties filed a joint discovery and case management plan, proposing various deadlines. Defendants filed their answer to the amended complaint on November 27, 2019. The parties are currently engaging in discovery. We intend to vigorously defend our interests in the MicroCapital Action. It is not possible at this time to predict the timing or outcome of this litigation, and we cannot reasonably estimate the possible loss or range of possible loss from these claims. Derivative Litigation. On December 1, 2014, an alleged shareholder, purportedly on behalf of the Company, filed a derivative shareholder lawsuit against us and certain of our current and former directors and former executive officers in the U.S. District Court for the Southern District of Texas, captioned as Robert Hack, derivatively on behalf of Conn’s, Inc., v. Theodore M. Wright (former executive officer and former director), Bob L. Martin, Jon E.M. Jacoby (former director), Kelly M. Malson, Douglas H. Martin, David Schofman, Scott L. Thompson (former director), Brian Taylor (former executive officer) and Michael J. Poppe (former executive officer) and Conn’s, Inc., Case No. 4:14-cv-03442 (the “Original Derivative Action”). The complaint asserts claims for breach of fiduciary duty, unjust enrichment, gross mismanagement, and insider trading based on substantially similar factual allegations as those asserted in the Consolidated Securities Action. The plaintiff seeks unspecified damages against these persons and does not request any damages from Conn’s. Setting forth substantially similar claims against the same defendants, on February 25, 2015, an additional federal derivative action, captioned 95250 Canada LTEE, derivatively on Behalf of Conn’s, Inc. v. Wright et al., Cause No. 4:15-cv-00521, was filed in the U.S. District Court for the Southern District of Texas, which has been consolidated with the Original Derivative Action. The Court previously approved a stipulation among the parties to stay the Original Derivative Action pending resolution of the Consolidated Securities Action. The stay was lifted on November 1, 2018, and the defendants filed a motion to dismiss plaintiff’s complaint. Briefing on the motion to dismiss was completed December 3, 2018, and the parties began engaging in discovery. On May 29, 2019, the magistrate judge, to which defendants’ motion to dismiss had been assigned, issued a report and recommendation, recommending that defendants’ motion to dismiss the complaint be granted, but recommended that the plaintiff be permitted to replead his claims. The district court adopted the recommendation on July 5, 2019. On July 19, 2019, plaintiff filed an amended complaint. On August 13, 2019, the magistrate judge issued a new scheduling order, which permitted defendants to file a motion to dismiss the amended complaint on demand-futility grounds. That briefing was completed on October 15, 2019. On November 1, 2019, the magistrate judge heard argument on the motion to dismiss and postponed certain deadlines. On February 7, 2020, the judge issued a new scheduling order, again postponing deadlines and removing a trial date from the schedule. As ordered by the court, the parties have been engaging in discovery while the motion to dismiss has been pending. Another derivative action was filed on January 27, 2015, captioned as Richard A. Dohn v. Wright, et al., Cause No. 2015-04405, in the 281st Judicial District Court, Harris County, Texas. This action makes substantially similar allegations to the Original Derivative Action against the same defendants. Conn’s received a copy of the proposed amended petition on October 12, 2018, but the proposed amended petition has not yet been filed. The parties jointly requested a stay on this case pending resolution of the Original Derivative Action. This case remains stayed until at least June 19, 2020. Prior to filing a lawsuit, an alleged shareholder, Robert J. Casey II (“Casey”), submitted a demand under Delaware law, which our Board of Directors refused. On May 19, 2016, Casey, purportedly on behalf of the Company, filed a lawsuit against us and certain of our current and former directors and former executive officers in the 55th Judicial District Court, Harris County, Texas, captioned as Casey, derivatively on behalf of Conn’s, Inc., v. Theodore M. Wright (former executive officer and former director), Michael J. Poppe (former executive officer), Brian Taylor (former executive officer), Bob L. Martin, Jon E.M. Jacoby (former director), Kelly M. Malson, Douglas H. Martin, David Schofman, Scott L. Thompson (former director) and William E. Saunders Jr., and Conn’s, Inc., Cause No. 2016-33135. The complaint asserts claims for breach of fiduciary duties and unjust enrichment based on substantially similar factual allegations as those asserted in the Original Derivative Action. The complaint does not specify the amount of damages sought. Since April 2018, no material activity has occurred in this case, as it has been abated pending the resolution of related cases. Other than Casey, none of the plaintiffs in the other derivative actions made a demand on our Board of Directors prior to filing their respective lawsuits. The defendants in the derivative actions intend to vigorously defend against these claims. It is not possible at this time to predict the timing or outcome of any of this litigation, and we cannot reasonably estimate the possible loss or range of possible loss from these claims. We are involved in other routine litigation and claims, incidental to our business from time to time which, individually or in the aggregate, are not expected to have a material adverse effect on us. As required, we accrue estimates of the probable costs for the resolution of these matters. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement strategies. However, the results of these proceedings cannot be predicted with certainty, and changes in facts and circumstances could impact our estimate of reserves for litigation. The Company believes that any probable and reasonably estimable loss associated with the foregoing has been adequately reflected in the accompanying financial statements.

Variable Interest Entity

Variable Interest Entity	3 Months Ended
	Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities From time to time, we securitize customer accounts receivables by transferring the receivables to various bankruptcy-remote VIEs. Under the terms of the respective securitization transactions, all cash collections and other cash proceeds of the customer receivables go first to the servicer and the holders of the asset-backed notes, and then to the residual equity holder. We retain the servicing of the securitized portfolio and receive a monthly fee of 4.75% (annualized) based on the outstanding balance of the securitized receivables, and we currently hold all of the residual equity. In addition, we, rather than the VIEs, will retain certain credit insurance income together with certain recoveries related to credit insurance and RSAs on charge-offs of the securitized receivables, which will continue to be reflected as a reduction of net charge-offs on a consolidated basis for as long as we consolidate the VIEs. We consolidate VIEs when we determine that we are the primary beneficiary of these VIEs, we have the power to direct the activities that most significantly impact the performance of the VIEs and our obligation to absorb losses and the right to receive residual returns are significant. The following table presents the assets and liabilities held by the VIEs (for legal purposes, the assets and liabilities of the VIEs will remain distinct from Conn’s, Inc.): (in thousands) April 30, January 31, Assets: Restricted cash $ 71,188 $ 73,214 Due from Conn’s, Inc., net 11,861 307 Customer accounts receivable: Customer accounts receivable 622,697 838,210 Restructured accounts 162,537 147,971 Allowance for uncollectible accounts (230,707 ) (151,263 ) Allowance for no-interest option credit programs (8,350 ) (12,445 ) Deferred fees and origination costs (5,834 ) (8,255 ) Total customer accounts receivable, net 540,343 814,218 Total assets $ 623,392 $ 887,739 Liabilities: Accrued expenses $ 4,524 $ 5,517 Other liabilities 7,584 7,584 Long-term debt: 2017-B Class C Notes 35,421 59,655 2018-A Class A Notes 23,016 34,112 2018-A Class B Notes 13,880 20,572 2018-A Class C Notes 13,880 20,572 2019-A Class A Notes 46,906 76,241 2019-A Class B Notes 60,239 64,750 2019-A Class C Notes 58,155 62,510 2019-B Class A Notes 191,191 265,810 2019-B Class B Notes 85,540 85,540 2019-B Class C Notes 83,270 83,270 611,498 773,032 Less: deferred debt issuance costs (3,578 ) (4,911 ) Total debt $ 607,920 $ 768,121 Total liabilities $ 620,028 $ 781,222 The assets of the VIEs serve as collateral for the obligations of the VIEs. The holders of asset-backed notes have no recourse to assets outside of the respective VIEs.

Segment Information

Segment Information	3 Months Ended
	Apr. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Operating segments are defined as components of an enterprise that engage in business activities and for which discrete financial information is available that is evaluated on a regular basis by the chief operating decision maker to make decisions about how to allocate resources and assess performance. We are a leading specialty retailer and offer a broad selection of quality, branded durable consumer goods and related services in addition to a proprietary credit solution for our core credit-constrained consumers. We have two operating segments: (i) retail and (ii) credit. Our operating segments complement one another. The retail segment operates primarily through our stores and website. Our retail segment product offerings include furniture and mattresses, home appliances, consumer electronics and home office products from leading global brands across a wide range of price points. Our credit segment offers affordable financing solutions to a large, under-served population of credit-constrained consumers who typically have limited credit alternatives. Our operating segments provide customers the opportunity to comparison shop across brands with confidence in our competitive prices as well as affordable monthly payment options, next day delivery and installation in the majority of our markets, and product repair service. The operating segments follow the same accounting policies used in our Condensed Consolidated Financial Statements. We evaluate a segment’s performance based upon operating income before taxes. Selling, general and administrative expenses (“SG&A”) includes the direct expenses of the retail and credit operations, allocated overhead expenses, and a charge to the credit segment to reimburse the retail segment for expenses it incurs related to occupancy, personnel, advertising and other direct costs of the retail segment, which benefit the credit operations by sourcing credit customers and collecting payments. The reimbursement received by the retail segment from the credit segment is calculated using an annual rate of 2.5% times the average outstanding portfolio balance for each applicable period. As of April 30, 2020 , we operated retail stores in 14 states with no operations outside of the United States. No single customer accounts for more than 10% of our total revenues. Financial information by segment is presented in the following tables: Three Months Ended April 30, 2020 Three Months Ended April 30, 2019 (in thousands) Retail Credit Total Retail Credit Total Revenues: Furniture and mattress $ 68,893 $ — $ 68,893 $ 88,364 $ — $ 88,364 Home appliance 81,285 — 81,285 77,290 — 77,290 Consumer electronics 35,776 — 35,776 49,649 — 49,649 Home office 17,366 — 17,366 15,706 — 15,706 Other 3,878 — 3,878 3,436 — 3,436 Product sales 207,198 — 207,198 234,445 — 234,445 Repair service agreement commissions 20,101 — 20,101 24,024 — 24,024 Service revenues 3,031 — 3,031 3,510 — 3,510 Total net sales 230,330 — 230,330 261,979 — 261,979 Finance charges and other revenues 235 86,595 86,830 202 91,331 91,533 Total revenues 230,565 86,595 317,160 262,181 91,331 353,512 Costs and expenses: Cost of goods sold 147,014 — 147,014 157,228 — 157,228 Selling, general and administrative expense (1) 78,174 34,833 113,007 79,622 38,292 117,914 Provision for bad debts 168 117,158 117,326 129 39,917 40,046 Charges and credits — 2,055 2,055 (695 ) — (695 ) Total costs and expenses 225,356 154,046 379,402 236,284 78,209 314,493 Operating income (loss) 5,209 (67,451 ) (62,242 ) 25,897 13,122 39,019 Interest expense — 14,993 14,993 — 14,497 14,497 Income (loss) before income taxes $ 5,209 $ (82,444 ) $ (77,235 ) $ 25,897 $ (1,375 ) $ 24,522 April 30, 2020 April 30, 2019 (in thousands) Retail Credit Total Retail Credit Total Total assets $ 607,210 $ 1,630,076 $ 2,237,286 $ 613,117 $ 1,477,167 $ 2,090,284 (1) For the three months ended April 30, 2020 and 2019 , the amount of corporate overhead allocated to each segment reflected in SG&A was $7.3 million and $7.9 million , respectively. For the three months ended April 30, 2020 and 2019 , the amount of reimbursement made to the retail segment by the credit segment was $9.8 million and $9.7 million , respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event Revolving Credit Facility Amendment. On June 5, 2020, the Company and the lenders entered into a Third Amendment (the “Third Amendment”) to the Fourth Amended and Restated Loan and Security Agreement, dated as of October 30, 2015, by and among the Company, as parent and guarantor, Conn Appliances, Inc., Conn Credit I, LP and Conn Credit Corporation, Inc., as borrowers, certain banks and financial institutions named therein, as lenders, and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders. The Third Amendment, among other things, (1) waived the two interest coverage covenants for the period ended on April 30, 2020 and for subsequent periods through the date on which the Company delivers financial statements and a compliance certificate for the quarter ended January 31, 2021 (or such earlier date as the borrowers may elect to terminate such relief period upon 10 business days prior written notice, the “ Covenant Relief Period ”), with such covenant compliance to resume with respect to the quarter ended April 30, 2021 at the ratios set prior to the effectiveness of the Third Amendment; (2) added a minimum liquidity covenant of $125.0 million at any time during the Covenant Relief Period; (3) increased the ABS excluded maximum leverage ratio financial covenant to 2.50 x measured quarterly (previously 2.00 x); (4) increased the maximum leverage ratio financial covenant, including securitizations, to 4.50 x measured quarterly (previously 4.00 x); (5) added a minimum availability covenant requiring at any time during the Covenant Relief Period that the borrowers maintain availability under the revolver equal to the greater of (a) 25% of the lesser of (i) the borrowing base and (ii) the revolver commitments and (b) $75.0 million ; (6) changed the rates included in the definition of Applicable Margin (as defined in the Fourth A&R Loan and Security Agreement) and the rate floor included in the definition of LIBOR contained in the Fourth A&R Loan and Security Agreement; (7) added an anti-cash hoarding covenant to require the Company and borrowers to use unrestricted cash and cash equivalents in excess of $100.0 million to prepay outstanding revolving loans under the Fourth A&R Loan and Security Agreement (if any); (8) included temporary restrictions, applicable only during the Covenant Relief Period, prohibiting the borrowers from, among other things, (a) making acquisitions and certain other investments, (b) making certain non-ordinary course restricted payments and (c) prepaying certain indebtedness; and (9) added a new $50.0 million basket under the restricted investments covenant to allow the borrowers to make investments in the Securitization Subsidiaries (as defined in the Fourth A&R Loan and Security Agreement). The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by the full text of the Third Amendment, which is filed with this Quarterly Report on Form 10-Q as Exhibit 10.1, which is incorporated by reference herein.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
Business and Basis of Presentation	Business. Conn’s, Inc., a Delaware corporation, is a holding company with no independent assets or operations other than its investments in its subsidiaries. References to “we,” “our,” “us,” “the Company,” “Conn’s” or “CONN” refer to Conn’s, Inc. and, as apparent from the context, its subsidiaries. Conn’s is a leading specialty retailer that offers a broad selection of quality, branded durable consumer goods and related services in addition to proprietary credit solutions for its core credit-constrained consumers. We operate an integrated and scalable business through our retail stores and website. Our complementary product offerings include furniture and mattresses, home appliances, consumer electronics and home office products from leading global brands across a wide range of price points. Our credit offering provides financing solutions to a large, under-served population of credit-constrained consumers who typically have limited credit alternatives. We operate two reportable segments: retail and credit. Our retail stores bear the “Conn’s HomePlus” name with all of our stores providing the same products and services to a common customer group. Our stores follow the same procedures and methods in managing their operations. Our retail business and credit business are operated independently from each other. The credit segment is dedicated to providing short- and medium-term financing to our retail customers. The retail segment is not involved in credit approval decisions or collection efforts. Our management evaluates performance and allocates resources based on the operating results of the retail and credit segments. Basis of Presentation. The accompanying unaudited Condensed Consolidated Financial Statements of Conn’s, Inc. and its wholly-owned subsidiaries, including its Variable Interest Entities (“VIEs”), have been prepared by management in accordance with U.S. generally accepted accounting principles (“GAAP”) and prevailing industry practice for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at January 31, 2020 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2020 (the “2020 Form 10-K”) filed with the United States Securities and Exchange Commission (the “SEC”) on April 14, 2020.
Fiscal Year	Fiscal Year. Our fiscal year ends on January 31. References to a fiscal year refer to the calendar year in which the fiscal year ends.
Principles of Consolidation	Principles of Consolidation. The Condensed Consolidated Financial Statements include the accounts of Conn’s, Inc. and its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation.
Variable Interest Entity	Variable Interest Entities. VIEs are consolidated if the Company is the primary beneficiary. The primary beneficiary of a VIE is the party that has (i) the power to direct the activities that most significantly impact the performance of the VIE and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We securitize customer accounts receivables by transferring the receivables to various bankruptcy-remote VIEs. We retain the servicing of the securitized portfolio and have a variable interest in each corresponding VIE by holding the residual equity. We have determined that we are the primary beneficiary of each respective VIE because (i) our servicing responsibilities for the securitized portfolio give us the power to direct the activities that most significantly impact the performance of the VIE and (ii) our variable interest in the VIE gives us the obligation to absorb losses and the right to receive residual returns that potentially could be significant. As a result, we consolidate the respective VIEs within our Condensed Consolidated Financial Statements. Refer to Note 5, Debt and Financing Lease Obligations , and Note 7, Variable Interest Entities , for additional information.
Use of Estimates	Use of Estimates. The preparation of financial statements in accordance with GAAP requires management to make informed judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ, even significantly, from these estimates. Management evaluates its estimates and related assumptions regularly, including those related to the allowance for doubtful accounts and allowances for no-interest option credit programs, which are particularly sensitive given the size of our customer portfolio balance.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents. As of April 30, 2020 and January 31, 2020 , cash and cash equivalents included cash and credit card deposits in transit. Credit card deposits in transit included in cash and cash equivalents were $4.4 million and $4.0 million as of April 30, 2020 and January 31, 2020 , respectively. Restricted Cash. The restricted cash balance as of April 30, 2020 and January 31, 2020 includes $57.6 million and $59.7 million , respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $13.9 million and $13.9 million , respectively, of cash held by the VIEs as additional collateral for the asset-backed notes.
Customer Accounts Receivable	Customer Accounts Receivable. Customer accounts receivable reported in the Condensed Consolidated Balance Sheet includes total receivables managed, including both those transferred to the VIEs and those not transferred to the VIEs. Customer accounts receivable are recognized at the time the customer takes possession of the product. As discussed in more detail below, Recent Accounting Pronouncements Adopted, effective February 1, 2020 the Company adopted ASC 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . Under the newly adopted standard, expected lifetime losses on customer accounts receivable are recognized upon origination through an allowance for credit losses account that is deducted from the customer account receivable balance and presented net. Customer accounts receivable include the net of unamortized deferred fees charged to customers and origination costs. Customer receivables are considered delinquent if a payment has not been received on the scheduled due date. Accounts that are delinquent more than 209 days as of the end of a month are charged-off against the allowance for doubtful accounts along with interest accrued subsequent to the last payment. In an effort to mitigate losses on our accounts receivable, we may make loan modifications to a borrower experiencing financial difficulty. In our role as servicer, we may also make modifications to loans held by the VIEs. The loan modifications are intended to maximize net cash flow after expenses and avoid the need to exercise legal remedies available to us. We may extend or “re-age” a portion of our customer accounts, which involves modifying the payment terms to defer a portion of the cash payments due. Our re-aging of customer accounts does not change the interest rate or the total principal amount due from the customer and typically does not reduce the monthly contractual payments. To a much lesser extent, we may provide the customer the ability to refinance their account, which typically does not change the interest rate or the total principal amount due from the customer but does reduce the monthly contractual payments and extend the term. We consider accounts that have been re-aged in excess of three months or refinanced as Troubled Debt Restructurings (“TDR” or “Restructured Accounts”). On March 27, 2020 the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law to address the economic impact of the COVID-19 pandemic. Under the CARES Act, modifications deemed to be COVID-19 related are not considered a TDR if the loan was current (not more than 30 days past due as of March 31, 2020) and the deferral was executed between April 1, 2020 and the earlier of 60 days after the termination of the COVID-19 national emergency or December 31, 2020. In response to the CARES Act, the Company implemented two short-term deferral programs for our customers. The carrying value of the customer receivables on accounts which were current prior to receiving a COVID-19 related deferment was $50.5 million as of April 30, 2020.
Interest Income on Customer Accounts Receivable	Interest Income on Customer Accounts Receivable. Interest income, which includes interest income and amortization of deferred fees and origination costs, is recorded using the interest method and is reflected in finance charges and other revenues. Typically, interest income is recorded until the customer account is paid off or charged-off and we provide an allowance for estimated uncollectible interest. We reserve for interest that is more than 60 days past due. Any contractual interest income received from customers in excess of the interest income calculated using the interest method is recorded as deferred revenue on our balance sheets. At April 30, 2020 and January 31, 2020, there was $10.4 million and $10.6 million , respectively, of deferred interest included in deferred revenues and other credits and other long-term liabilities. The deferred interest will ultimately be brought into income as the accounts pay off or charge-off. We offer a 12-month no-interest option program. If the customer is delinquent in making a scheduled monthly payment or does not repay the principal in full by the end of the no-interest option program period (grace periods are provided), the account does not qualify for the no-interest provision and none of the interest earned is waived. Interest income is recognized based on estimated accrued interest earned to date on all no-interest option finance programs with an offsetting reserve for those customers expected to satisfy the requirements of the program based on our historical experience. We recognize interest income on TDR accounts using the interest income method, which requires reporting interest income equal to the increase in the net carrying amount of the loan attributable to the passage of time. Cash proceeds and other adjustments are applied to the net carrying amount such that it equals the present value of expected future cash flows. We place accounts in non-accrual status when legally required. Payments received on non-accrual loans are applied to principal and reduce the balance of the loan. At April 30, 2020 and January 31, 2020, the carrying value of customer accounts receivable in non-accrual status was $14.8 million and $12.5 million , respectively. At April 30, 2020 and January 31, 2020, the carrying value of customer accounts receivable that were past due 90 days or more and still accruing interest totaled $153.3 million and $132.7 million , respectively. At April 30, 2020 and January 31, 2020, the carrying value of customer accounts receivable in a bankruptcy status that were less than 60 days past due of $11.4 million and $12.1 million , respectively, were included within the customer receivables balance carried in non-accrual status.
Debt Issuance Costs	Debt Issuance Costs. Costs that are direct and incremental to debt issuance are deferred and amortized to interest expense using the effective interest method over the expected life of the debt. All other costs related to debt issuance are expensed as incurred. We present debt issuance costs associated with long-term debt as a reduction of the carrying amount of the debt. Unamortized costs related to the Revolving Credit Facility, as defined in Note 5, Debt and Financing Lease Obligations , are included in other assets on our Condensed Consolidated Balance Sheet and were $3.2 million and $3.5 million as of April 30, 2020 and January 31, 2020 , respectively.
Income Taxes	Income Taxes. For the three months ended April 30, 2020 and 2019 , we utilized the estimated annual effective tax rate based on our estimated fiscal year 2021 and 2020 pre-tax income, respectively, in determining income tax expense. Provision for income taxes for interim periods is based on an estimated annual income tax rate, adjusted for discrete tax items. As a result, our interim effective tax rates may vary significantly from the statutory tax rate and the annual effective tax rate. For the three months ended April 30, 2020 and 2019 , the effective tax rate was 27.2% and 20.4% , respectively. The primary factor affecting the increase in our effective tax rate for the three months ended April 30, 2020 was the impact of the tax loss carryback provisions of the CARES Act.
Share-based Compensation	Stock-based Compensation. During the three months ended April 30, 2020, the Company granted performance stock awards (“PSUs”) and restricted stock awards (“RSUs”). The awards had a combined aggregate grant date fair value of $7.2 million . The PSUs will vest after the Company’s fiscal year 2024, if at all, upon certification by the compensation committee of the satisfaction of certain total shareholder return conditions over the three fiscal years commencing with the Company’s fiscal year 2021. The majority of the RSUs will vest, if at all, over periods of three to four years from the date of grant. Stock-based compensation expense is recorded, net of estimated forfeitures, for share-based compensation awards over the requisite service period using the straight-line method. An adjustment is made to compensation cost for any difference between the estimated forfeitures and the actual forfeitures related to the awards. For equity-classified share-based compensation awards, expense is recognized based on the grant-date fair value. For equity-classified share-based compensation awards, expense is recognized based on the grant-date fair value. For stock option grants, we use the Black-Scholes model to determine fair value. For grants of restricted stock units, the fair value of the grant is the market value of our stock at the date of issuance. For grants of performance-based restricted stock units, the fair value is the market value of our stock at the date of issuance adjusted for the market condition using a Monte Carlo model. The following table sets forth the RSUs and PSUs granted during the three months ended April 30, 2020 and 2019 : Three Months Ended 2020 2019 RSUs (1) 520,421 3,429 PSUs (2) 270,828 — Total stock awards granted 791,249 3,429 Aggregate grant date fair value (in thousands) $ 7,207 $ 71 (1) The majority of RSUs issued during the three months ended April 30, 2020 and 2019 are scheduled to vest ratably over periods of three to four years from the date of grant. (2) The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the three months ended April 30, 2020 included expected volatility of 60.0% , an expected term of 3 years and risk-free interest rate of 1.42% . No dividend yield was included in the weighted-average assumptions for the PSUs granted during the three months ended April 30, 2020 . For the three months ended April 30, 2020 and 2019 , stock-based compensation expense was $2.4 million and $3.2 million , respectively.
Earnings per Share	Earnings (loss) per Share. Basic earnings (loss) per share for a particular period is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effects of any stock options, RSUs and PSUs, which are calculated using the treasury-stock method. The following table sets forth the shares outstanding for the earnings per share calculations: Three Months Ended (in thousands) 2020 2019 Weighted-average common shares outstanding - Basic 28,822,396 31,882,003 Dilutive effect of stock options, PSUs and RSUs — 561,881 Weighted-average common shares outstanding - Diluted 28,822,396 32,443,884 For the three months ended April 30, 2020 and 2019 , the weighted average number of stock options, RSUs and PSUs not included in the calculation due to their anti-dilutive effect, was 1,832,902 and 859,970 , respectively.
Fair Value of Financial Instruments	Fair Value of Financial Instruments. 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. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to subjectivity associated with the inputs to fair value measurements as follows: • Level 1 – Inputs represent unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (for example, quoted market prices for similar assets or liabilities in active markets or quoted market prices for identical assets or liabilities in markets not considered to be active, inputs other than quoted prices that are observable for the asset or liability, or market-corroborated inputs). • Level 3 – Inputs that are not observable from objective sources such as our internally developed assumptions used in pricing an asset or liability (for example, an estimate of future cash flows used in our internally developed present value of future cash flows model that underlies the fair-value measurement). In determining fair value, we use observable market data when available, or models that incorporate observable market data. When we are required to measure fair value and there is not a market-observable price for the asset or liability or for a similar asset or liability, we use the cost or income approach depending on the quality of information available to support management’s assumptions. The cost approach is based on management’s best estimate of the current asset replacement cost. The income approach is based on management’s best assumptions regarding expectations of future net cash flows and discounts the expected cash flows using a commensurate risk-adjusted discount rate. Such evaluations involve significant judgment, and the results are based on expected future events or conditions such as sales prices, economic and regulatory climates, and other factors, most of which are often outside of management’s control. However, we believe assumptions used reflect a market participant’s view of long-term prices, costs, and other factors and are consistent with assumptions used in our business plans and investment decisions. In arriving at fair-value estimates, we use relevant observable inputs available for the valuation technique employed. If a fair-value measurement reflects inputs at multiple levels within the hierarchy, the fair-value measurement is characterized based on the lowest level of input that is significant to the fair-value measurement. The fair value of cash and cash equivalents, restricted cash and accounts payable approximate their carrying amounts because of the short maturity of these instruments. The fair value of customer accounts receivable, determined using a Level 3 discounted cash flow analysis, approximates their carrying value, net of the allowance for doubtful accounts. The fair value of our Revolving Credit Facility approximates carrying value based on the current borrowing rate for similar types of borrowing arrangements. At April 30, 2020 , the fair value of the Senior Notes outstanding, which was determined using Level 1 inputs, was $155.6 million as compared to the carrying value of $227.0 million , excluding the impact of the related discount. At April 30, 2020 , the fair value of the asset backed notes was $553.9 million as compared to the carrying value of $611.5 million and was determined using Level 2 inputs based on inactive trading activity.
Deferred Revenue	Deferred Revenue. Deferred revenue related to contracts with customers consists of deferred customer deposits and deferred RSA administration fees. During the three months ended April 30, 2020 , we recognized $1.2 million of revenue for customer deposits deferred as of January 31, 2020 . During the three months ended April 30, 2020 , we recognized $1.1 million of revenue for RSA administrative fees deferred as of January 31, 2020 .
Lessee, Leases [Policy Text Block]	Leases. In response to the COVID-19 pandemic, during the three months ended April 30, 2020, we began renegotiating our leases as a means of preserving liquidity. On April 10, 2020 the Financial Accounting Standards Board (“FASB”) issued guidance for lease concessions entered into in response to the COVID-19 pandemic that allows lessees to make an election not to evaluate whether a lease concession provided by a lessor should be accounted for as a lease modification if it does not result in a substantial increase in the rights of the lessor or the obligations of the lessee. We have elected to apply this allowance to our COVID-19 lease concessions. As a result, for the three months ended April 30, 2020, there were no material modifications to our leases.
Recent Accounting Pronouncements Adopted and Recent Accounting Pronouncements Yet To Be Adopted	Recent Accounting Pronouncements Adopted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASC 326”). ASU 2016-13 replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. Under the new guidance entities must reserve an allowance for expected credit losses over the life of the loan. The measurement of expected credit losses is applicable to financial assets measured at amortized cost. The allowance for credit losses is a valuation account that is deducted from the customer account receivable’s amortized cost basis to present the net amount expected to be collected. Customer receivables are charged off against the allowance when management deems an account to be uncollectible. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses . ASU 2019-04 requires that the current estimate of recoveries are included in the allowance for credit losses. Effective February 1, 2020, the Company adopted ASU 2016-13 and ASU 2019-04 using the modified retrospective approach. The Company has reviewed its entire portfolio of assets recognized on the balance sheet as of January 31, 2020 and identified Customer Accounts Receivables as the materially impacted asset in-scope of ASC 326. The risk of credit losses from the remaining portfolio of assets was concluded to be immaterial. Upon adoption of ASC 326 the Company recorded a net decrease to retained earnings of $76.5 million as of February 1, 2020. Results for reporting periods prior to February 1, 2020 are not adjusted and continue to be reported in accordance with the Company’s historic accounting policies under previously applicable GAAP. The allowance for credit losses is measured on a collective (pool) basis where similar risk characteristics exist. Upon adoption of ASC 326, the Company elected to maintain the pools of customer accounts receivable that were previously accounted for under ASC 310 (Non-TDR Non-Reaged, Non-TDR Reaged, and TDR). These pools were segmented based on shared risk attributes, which include the borrower’s FICO score, product class, length of customer relationship and delinquency status. The allowance for credit losses was determined for each pool and added to the pool’s carrying amount to establish a new amortized cost basis. Changes to the allowance for credit losses after adoption are recorded through provision expense. We have elected to use a risk-based, pool-level segmentation framework to calculate the expected loss rate. This framework is based on our historical gross charge-off history. In addition to adjusted historical gross charge-off rates, estimates of post-charge-off recoveries, including cash payments from customers, sales tax recoveries from taxing jurisdictions, and payments received under credit insurance and repair service agreement (“RSA”) policies are also considered. We also consider forward-looking economic forecasts based on a statistical analysis of economic factors (specifically, forecast of unemployment rates over the reasonable and supportable forecasting period). To the extent that situations and trends arise which are not captured in our model, management will layer on additional qualitative adjustments. Pursuant to ASC 326 requirements, the Company has initially determined a 24-month reasonable and supportable forecast period for the Customer Accounts Receivable portfolio. We estimate losses beyond the 24-month forecast period based on historic loss rates experienced over the life of our historic loan portfolio by loan pool type. We will revisit our measurement methodology and assumption annually, or more frequently if circumstances warrant. The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as a result of the adoption of ASC 326 were as follows: Impact of Adoption of ASC 326 (in thousands) Balance at January 31, 2020 Adjustments due to ASC 326 Balance at February 1, 2020 Assets Customer accounts receivable $ 673,742 $ (49,701 ) $ 624,041 Long-term portion of customer accounts receivable 663,761 (48,962 ) 614,799 Deferred Income Taxes 18,599 22,172 40,771 Stockholders’ Equity Retained Earnings $ 570,636 $ (76,491 ) $ 494,145 Changes due to Securities and Exchange Commission Regulation S-X Rules 13-01 and 13-02. In March 2020, the Securities and Exchange Commission (“SEC”) amended Regulation S-X to create Rules 13-01 and 13-02. These new rules reduce and simplify financial disclosure requirements for issuers and guarantors of registered debt offerings. Previously, with limited exceptions, a parent entity was required to provide detailed disclosures with regard to guarantors of registered debt offerings within the footnotes to the consolidated financial statements. Under the new regulations, disclosure exceptions have been expanded and required disclosures may be provided within the Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations rather than in the notes to the financial statements. Further, summarized guarantor balance sheet and income statements are permitted, with the requirement to provide guarantor cash flow statements eliminated. Summarized guarantor financial statements only need be disclosed for the current fiscal year rather than all years presented in the financial statements as was previously required. The guidance will become effective for filings on or after January 4, 2021, with early adoption permitted. The Company has elected to early adopt the new regulations as of and for the three months ended April 30, 2020. Our summarized guarantor financial statements are now presented in Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Apr. 30, 2020
Accounting Policies [Abstract]
RSUs, PSUs and stock options granted during the period	The following table sets forth the RSUs and PSUs granted during the three months ended April 30, 2020 and 2019 : Three Months Ended 2020 2019 RSUs (1) 520,421 3,429 PSUs (2) 270,828 — Total stock awards granted 791,249 3,429 Aggregate grant date fair value (in thousands) $ 7,207 $ 71 (1) The majority of RSUs issued during the three months ended April 30, 2020 and 2019 are scheduled to vest ratably over periods of three to four years from the date of grant. (2) The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the three months ended April 30, 2020 included expected volatility of 60.0% , an expected term of 3 years and risk-free interest rate of 1.42% . No dividend yield was included in the weighted-average assumptions for the PSUs granted during the three months ended April 30, 2020 .
Shares outstanding for the earnings per share calculations	The following table sets forth the shares outstanding for the earnings per share calculations: Three Months Ended (in thousands) 2020 2019 Weighted-average common shares outstanding - Basic 28,822,396 31,882,003 Dilutive effect of stock options, PSUs and RSUs — 561,881 Weighted-average common shares outstanding - Diluted 28,822,396 32,443,884
Cumulative effect of the changes for adoption of ASC 326	The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as a result of the adoption of ASC 326 were as follows: Impact of Adoption of ASC 326 (in thousands) Balance at January 31, 2020 Adjustments due to ASC 326 Balance at February 1, 2020 Assets Customer accounts receivable $ 673,742 $ (49,701 ) $ 624,041 Long-term portion of customer accounts receivable 663,761 (48,962 ) 614,799 Deferred Income Taxes 18,599 22,172 40,771 Stockholders’ Equity Retained Earnings $ 570,636 $ (76,491 ) $ 494,145

Customer Accounts Receivable (T

Customer Accounts Receivable (Tables)	3 Months Ended
	Apr. 30, 2020
Receivables [Abstract]
Allowance for doubtful accounts and uncollectible interest for customer receivables	Customer accounts receivable consisted of the following: (in thousands) April 30, January 31, Customer accounts receivable (1) $ 1,499,965 $ 1,602,037 Deferred fees and origination costs, net (14,950 ) (15,746 ) Allowance for no-interest option credit programs (13,208 ) (14,984 ) Allowance for uncollectible interest (29,305 ) (23,662 ) Carrying value of customer accounts receivable 1,442,502 1,547,645 Allowance for credit losses (2) (363,948 ) (210,142 ) Carrying value of customer accounts receivable, net of allowance for credit losses 1,078,554 1,337,503 Short-term portion of customer accounts receivable, net (548,169 ) (673,742 ) Long-term customer accounts receivable, net $ 530,385 $ 663,761 Carrying Value (in thousands) April 30, January 31, Customer accounts receivable 60+ days past due (3) $ 192,501 $ 193,797 Re-aged customer accounts receivable (4) 465,820 455,704 Restructured customer accounts receivable (5) 224,081 211,857 (1) As of April 30, 2020 and January 31, 2020, the customer accounts receivable balance included $42.5 million and $43.7 million , respectively, in interest receivable. Net of the allowance for uncollectible interest, interest receivable outstanding as of April 30, 2020 and January 31, 2020 was $13.2 million and $20.0 million , respectively. (2) Our current methodology to estimate expected credit losses utilized macroeconomic forecasts as of April 30, 2020, which incorporated the estimated potential impact that the global outbreak COVID-19 may have on the U.S. economy. Our forecast utilized economic projections from a major rating service reflecting an increase in unemployment with some offsetting benefits related to the positive impacts of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). As a result, our allowance for loan loss increased $65.5 million for the three months ended April 30, 2020. The allowance for credit losses as of January 31, 2020 is based on an incurred loss model, which reserves for expected credit losses over the next twelve months. (3) As of April 30, 2020 and January 31, 2020 , the carrying value of customer accounts receivable past due one day or greater was $441.0 million and $527.0 million , respectively. These amounts include the 60+ days past due balances shown above. (4) The re-aged carrying value as of April 30, 2020 and January 31, 2020 includes $123.7 million and $131.4 million in carrying value that are both 60+ days past due and re-aged. (5) The restructured carrying value as of April 30, 2020 and January 31, 2020 includes $63.2 million and $64.8 million in carrying value that are both 60+ days past due and restructured.
Schedule of allowance for credit losses	The allowance for credit losses included in the current and long-term portion of customer accounts receivable, net as shown in the Condensed Consolidated Balance Sheet were as follows: (in thousands) Three Months Ended April 30, 2020 Customer accounts receivable - current $ 752,960 Allowance for credit losses for customer accounts receivable - current (204,791 ) Customer accounts receivable, net of allowances 548,169 Customer accounts receivable - non current 718,847 Allowance for credit losses for customer accounts receivable - non current (188,462 ) Long-term portion of customer accounts receivable, net of allowances 530,385 Total customer accounts receivable, net $ 1,078,554
Activity in the allowance for doubtful accounts and uncollectible interest for customer receivables	The following presents the activity in our allowance for credit losses and uncollectible interest for customer receivables: Three Months Ended April 30, 2020 Three Months Ended April 30, 2019 (in thousands) Customer Customer Allowance at beginning of period, prior to adoption of ASC 326 $ 145,680 $ 88,123 $ 233,803 $ 147,123 $ 67,756 $ 214,879 Impact of adoption ASC 326 95,136 3,526 98,662 — — — Provision for credit loss expense (1) 109,065 28,224 137,289 35,275 16,925 52,200 Principal charge-offs (2) (46,351 ) (18,501 ) (64,852 ) (39,723 ) (14,809 ) (54,532 ) Interest charge-offs (12,314 ) (5,300 ) (17,614 ) (9,099 ) (3,392 ) (12,491 ) Recoveries (2)(3)(4) 3,988 1,977 5,965 4,714 1,757 6,471 Allowance at end of period $ 295,204 $ 98,049 $ 393,253 $ 138,290 $ 68,237 $ 206,527 Average total customer portfolio balance $ 1,333,197 $ 224,565 $ 1,557,762 $ 1,368,094 $ 190,228 $ 1,558,322 (1) Includes provision for uncollectible interest, which is included in finance charges and other revenues. (2) Charge-offs include the principal amount of losses (excluding accrued and unpaid interest). For the three months ended April 30, 2019, recoveries include the principal amount collected during the period for previously charged-off balances. For the three months ended April 30, 2020, recoveries include the principal amount collected during the period for previously charged-off balances and changes in expected future recoveries. Net charge-offs are calculated as the net of principal charge-offs and recoveries. (3) The increase in bad debt charge-offs, net of recoveries, was primarily due to higher risk loans originated during the first half of fiscal year 2020 and an increase in new customer mix
Financing Receivable, Past Due [Table Text Block]	We manage our Customer Accounts Receivable portfolio using delinquency as a key credit quality indicator. The following table presents the delinquency distribution of the carrying value of customer accounts receivable by year of origination. The information is updated as of April 30, 2020 : Delinquency Bucket 2020 2019 2018 2017 Prior Total % of Total (in thousands) Current $ 209,196 $ 520,586 $ 220,700 $ 48,025 $ 3,041 $ 1,001,548 69.5 % 1-30 24,977 100,147 56,044 17,624 1,792 200,584 13.9 % 31-60 7,036 21,169 13,854 5,123 687 47,869 3.3 % 61-90 3,937 18,003 9,810 4,060 652 36,462 2.5 % 91+ — 77,232 52,382 22,477 3,948 156,039 10.8 % Total $ 245,146 $ 737,137 $ 352,790 $ 97,309 $ 10,120 $ 1,442,502 100.0 %

Charges and Credits Charges an

Charges and Credits Charges and Credits (Tables)	3 Months Ended
	Apr. 30, 2020
Charges and Credits [Abstract]
Schedule of Charges and Credits	Charges and credits consisted of the following: Three Months Ended (in thousands) 2020 2019 Professional fees $ 2,055 $ — Facility relocation costs — (695 ) Total charges and credits $ 2,055 $ (695 )

Finance Charges and Other Rev_2

Finance Charges and Other Revenue (Tables)	3 Months Ended
	Apr. 30, 2020
Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]
Schedule of finance charges and other revenues	Finance charges and other revenues consisted of the following: Three Months Ended (in thousands) 2020 2019 Interest income and fees $ 81,843 $ 84,017 Insurance income 4,752 7,314 Other revenues 235 202 Total finance charges and other revenues $ 86,830 $ 91,533

Debt and Financing Lease Obli_2

Debt and Financing Lease Obligations (Tables)	3 Months Ended
	Apr. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Debt and financing lease obligations consisted of the following: (in thousands) April 30, January 31, Revolving Credit Facility $ 336,000 $ 29,100 Senior Notes 227,000 227,000 2017-B VIE Asset-backed Class C Notes 35,421 59,655 2018-A VIE Asset-backed Class A Notes 23,016 34,112 2018-A VIE Asset-backed Class B Notes 13,880 20,572 2018-A VIE Asset-backed Class C Notes 13,880 20,572 2019-A VIE Asset-backed Class A Notes 46,906 76,241 2019-A VIE Asset-backed Class B Notes 60,239 64,750 2019-A VIE Asset-backed Class C Notes 58,155 62,510 2019-B VIE Asset-backed Class A Notes 191,191 265,810 2019-B VIE Asset-backed Class B Notes 85,540 85,540 2019-B VIE Asset-backed Class C Notes 83,270 83,270 Financing lease obligations 5,807 5,209 Total debt and financing lease obligations 1,180,305 1,034,341 Less: Discount on debt (1,264 ) (1,404 ) Deferred debt issuance costs (5,282 ) (6,797 ) Current maturities of long-term debt and financing lease obligations (772 ) (605 ) Long-term debt and financing lease obligations $ 1,172,987 $ 1,025,535
Schedule of Asset-backed Notes	The asset-backed notes outstanding as of April 30, 2020 consisted of the following: (dollars in thousands) Asset-Backed Notes Original Principal Amount Original Net Proceeds (1) Current Principal Amount Issuance Date Maturity Date Contractual Interest Rate Effective Interest Rate (2) 2017-B Class C Notes $ 78,640 $ 77,843 $ 35,421 12/20/2017 11/15/2022 5.95% 6.44% 2018-A Class A Notes 219,200 217,832 23,016 8/15/2018 1/17/2023 3.25% 5.11% 2018-A Class B Notes 69,550 69,020 13,880 8/15/2018 1/17/2023 4.65% 5.26% 2018-A Class C Notes 69,550 68,850 13,880 8/15/2018 1/17/2023 6.02% 6.61% 2019-A Class A Notes 254,530 253,026 46,906 4/24/2019 10/16/2023 3.40% 4.85% 2019-A Class B Notes 64,750 64,276 60,239 4/24/2019 10/16/2023 4.36% 4.38% 2019-A Class C Notes 62,510 61,898 58,155 4/24/2019 10/16/2023 5.29% 5.09% 2019-B Class A Notes 317,150 315,417 191,191 11/26/2019 6/17/2024 2.66% 4.06% 2019-B Class B Notes 85,540 84,916 85,540 11/26/2019 6/17/2024 3.62% 3.98% 2019-B Class C Notes 83,270 82,456 83,270 11/26/2019 6/17/2024 4.60% 4.98% Total $ 1,304,690 $ 1,295,534 $ 611,498 (1) After giving effect to debt issuance costs. (2) For the three months ended April 30, 2020 , and inclusive of the impact of changes in timing of actual and expected cash flows.
Covenant Compliance	A summary of the significant financial covenants that govern our Revolving Credit Facility, as amended, compared to our actual compliance status at April 30, 2020 is presented below: Actual Required Minimum/ Maximum Interest Coverage Ratio for the quarter must equal or exceed minimum Not Tested 1.00:1.00 Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum Not Tested 1.50:1.00 Leverage Ratio must not exceed maximum 2.31:1.00 4.00:1.00 ABS Excluded Leverage Ratio must not exceed maximum 1.20:1.00 2.00:1.00 Capital Expenditures, net, must not exceed maximum $35.3 million $100.0 million

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of assets and liabilities held by the VIE	The following table presents the assets and liabilities held by the VIEs (for legal purposes, the assets and liabilities of the VIEs will remain distinct from Conn’s, Inc.): (in thousands) April 30, January 31, Assets: Restricted cash $ 71,188 $ 73,214 Due from Conn’s, Inc., net 11,861 307 Customer accounts receivable: Customer accounts receivable 622,697 838,210 Restructured accounts 162,537 147,971 Allowance for uncollectible accounts (230,707 ) (151,263 ) Allowance for no-interest option credit programs (8,350 ) (12,445 ) Deferred fees and origination costs (5,834 ) (8,255 ) Total customer accounts receivable, net 540,343 814,218 Total assets $ 623,392 $ 887,739 Liabilities: Accrued expenses $ 4,524 $ 5,517 Other liabilities 7,584 7,584 Long-term debt: 2017-B Class C Notes 35,421 59,655 2018-A Class A Notes 23,016 34,112 2018-A Class B Notes 13,880 20,572 2018-A Class C Notes 13,880 20,572 2019-A Class A Notes 46,906 76,241 2019-A Class B Notes 60,239 64,750 2019-A Class C Notes 58,155 62,510 2019-B Class A Notes 191,191 265,810 2019-B Class B Notes 85,540 85,540 2019-B Class C Notes 83,270 83,270 611,498 773,032 Less: deferred debt issuance costs (3,578 ) (4,911 ) Total debt $ 607,920 $ 768,121 Total liabilities $ 620,028 $ 781,222

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 30, 2020
Segment Reporting [Abstract]
Financial information by segment	Financial information by segment is presented in the following tables: Three Months Ended April 30, 2020 Three Months Ended April 30, 2019 (in thousands) Retail Credit Total Retail Credit Total Revenues: Furniture and mattress $ 68,893 $ — $ 68,893 $ 88,364 $ — $ 88,364 Home appliance 81,285 — 81,285 77,290 — 77,290 Consumer electronics 35,776 — 35,776 49,649 — 49,649 Home office 17,366 — 17,366 15,706 — 15,706 Other 3,878 — 3,878 3,436 — 3,436 Product sales 207,198 — 207,198 234,445 — 234,445 Repair service agreement commissions 20,101 — 20,101 24,024 — 24,024 Service revenues 3,031 — 3,031 3,510 — 3,510 Total net sales 230,330 — 230,330 261,979 — 261,979 Finance charges and other revenues 235 86,595 86,830 202 91,331 91,533 Total revenues 230,565 86,595 317,160 262,181 91,331 353,512 Costs and expenses: Cost of goods sold 147,014 — 147,014 157,228 — 157,228 Selling, general and administrative expense (1) 78,174 34,833 113,007 79,622 38,292 117,914 Provision for bad debts 168 117,158 117,326 129 39,917 40,046 Charges and credits — 2,055 2,055 (695 ) — (695 ) Total costs and expenses 225,356 154,046 379,402 236,284 78,209 314,493 Operating income (loss) 5,209 (67,451 ) (62,242 ) 25,897 13,122 39,019 Interest expense — 14,993 14,993 — 14,497 14,497 Income (loss) before income taxes $ 5,209 $ (82,444 ) $ (77,235 ) $ 25,897 $ (1,375 ) $ 24,522 April 30, 2020 April 30, 2019 (in thousands) Retail Credit Total Retail Credit Total Total assets $ 607,210 $ 1,630,076 $ 2,237,286 $ 613,117 $ 1,477,167 $ 2,090,284 (1) For the three months ended April 30, 2020 and 2019 , the amount of corporate overhead allocated to each segment reflected in SG&A was $7.3 million and $7.9 million , respectively. For the three months ended April 30, 2020 and 2019 , the amount of reimbursement made to the retail segment by the credit segment was $9.8 million and $9.7 million , respectively.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2020USD ($)segment	Apr. 30, 2019	Jan. 31, 2020USD ($)
Debt Instrument [Line Items]
Number of operating segments | segment	2
Cash and Cash Equivalents and Restricted Cash
Cash and cash equivalents include credit card deposits in-transit	$ 4,400		$ 4,000
Restricted cash	73,455		75,370
Receivables [Abstract]
Customer receivables which were current prior to receiving a COVID-19 related deferment	50,500
Interest Income on Customer Accounts Receivable
Deferred revenue	10,400		10,600
Nonaccrual status	14,800		12,500
Amount in bankruptcy and less than 60 days past due	11,400		12,100
90 days past due and still accruing	153,300		132,700
Debt Issuance Costs
Deferred debt issuance costs	$ 5,282		6,797
Income Taxes
Effective tax rate	27.20%	20.40%
Fair Value of Financial Instruments
Long-term debt	$ 611,498
Senior Notes [Member]
Fair Value of Financial Instruments
Debt fair value	155,600
Secured Debt [Member]
Fair Value of Financial Instruments
Debt fair value	553,900
Revolving Credit Facility [Member]
Debt Issuance Costs
Deferred debt issuance costs	3,200		3,500
Securitized Receivables Servicer [Member]
Cash and Cash Equivalents and Restricted Cash
Restricted cash	13,900		13,900
Collateral Held by VIE [Member]
Cash and Cash Equivalents and Restricted Cash
Restricted cash	57,600		59,700
Senior Notes [Member]
Fair Value of Financial Instruments
Long-term debt	227,000		$ 227,000
Secured Debt [Member]
Fair Value of Financial Instruments
Long-term debt	$ 611,500

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock awards granted (in shares)	791,249	3,429
Aggregate grant date fair value	$ 7,207	$ 71
Dividend yield	0.00%
Stock-based compensation expense	$ 2,430	$ 3,217
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
(RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs (in shares)	520,421	3,429
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs (in shares)	270,828	0
Expected volatility rate	60.00%
Expected term	3 years
Risk free interest rate	1.42%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Earnings per Share (Details) - shares	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares outstanding - Basic (in shares)	28,822,396	31,882,003
Dilutive effect of stock options, RSUs and PSUs (in shares)	0	561,881
Weighted average common shares outstanding - Diluted (in shares)	28,822,396	32,443,884
Restricted Stock Units And Phantom Share Units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average number of stock options and restricted stock units not included in the calculation of the dilutive effect of stock options and restricted stock units (in shares)	1,832,902	859,970

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Feb. 01, 2020	Jan. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Customer accounts receivable	$ 548,169	$ 624,041	$ 673,742
Long-term customer accounts receivable, net	530,385	614,799	663,761
Deferred income taxes	46,746	40,771	18,599
Retained Earnings	437,943	494,145	$ 570,636
Customer Deposits [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred revenue, revenue recognized	1,200
RSA Administration Fees [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred revenue, revenue recognized	$ 1,100
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Customer accounts receivable		(49,701)
Long-term customer accounts receivable, net		(48,962)
Deferred income taxes		22,172
Retained Earnings		$ (76,491)

Customer Accounts Receivable (D

Customer Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Feb. 01, 2020	Jan. 31, 2020
Quantitative information about the receivables portfolio managed [Abstract]
Customer accounts receivable (1)	$ 1,499,965			$ 1,602,037
Allowance for no-interest option credit programs	13,208			14,984
Allowance for uncollectible interest	29,305			23,662
Carrying value of customer accounts receivable	1,442,502			1,547,645
Allowance for credit losses	(363,948)			(210,142)
Total customer accounts receivable, net	1,078,554			1,337,503
Short-term portion of customer accounts receivable, net	(548,169)		$ (624,041)	(673,742)
Long-term customer accounts receivable, net	530,385		614,799	663,761
Customer accounts receivable 60 days past due	192,501			193,797
Re-aged customer accounts receivable	465,820			455,704
Restructured customer accounts receivable	224,081			211,857
Increase in allowance for loan losses related to COVID-19	65,500
Past due	441,000			527,000
Amounts included within past due and reaged accounts	123,700			131,400
Accounts Receivable, Restructured Accounts, Past Due	63,200			64,800
Interest receivable	42,500			43,700
Interest receivable outstanding net of allowance for uncollectible interest	13,200			20,000
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	233,803	$ 214,879
Provision	137,289	52,200
Principal charge-offs	(64,852)	(54,532)
Interest charge-offs	(17,614)	(12,491)
Recoveries	5,965	6,471
Allowance at end of period	393,253	206,527
Average total customer portfolio balance	1,557,762	1,558,322
Restructured Accounts [Member]
Quantitative information about the receivables portfolio managed [Abstract]
Deferred fees and origination costs, net	(14,950)			$ (15,746)
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	88,123	67,756
Provision	28,224	16,925
Principal charge-offs	(18,501)	(14,809)
Interest charge-offs	(5,300)	(3,392)
Recoveries	1,977	1,757
Allowance at end of period	98,049	68,237
Average total customer portfolio balance	224,565	190,228
Customer Accounts Receivable [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	145,680	147,123
Provision	109,065	35,275
Principal charge-offs	(46,351)	(39,723)
Interest charge-offs	(12,314)	(9,099)
Recoveries	3,988	4,714
Allowance at end of period	295,204	138,290
Average total customer portfolio balance	1,333,197	$ 1,368,094
Accounting Standards Update 2016-13 [Member]
Quantitative information about the receivables portfolio managed [Abstract]
Short-term portion of customer accounts receivable, net			49,701
Long-term customer accounts receivable, net			$ (48,962)
Cumulative Effect, Period Of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	98,662
Cumulative Effect, Period Of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Restructured Accounts [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	3,526
Cumulative Effect, Period Of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Customer Accounts Receivable [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	$ 95,136

Customer Accounts Receivable De

Customer Accounts Receivable Delinquency Bucket (Details) - USD ($)	Apr. 30, 2020	Jan. 31, 2020
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 245,146,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	737,137,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	352,790,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	97,309,000
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	10,120,000
Carrying value of customer accounts receivable	1,442,502,000	$ 1,547,645,000
Percent of Total Accounts Receivable	1
Current [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	209,196,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	520,586,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	220,700,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	48,025,000
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	3,041,000
Carrying value of customer accounts receivable	1,001,548,000
Percent of Total Accounts Receivable	0.695
Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	24,977,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	100,147,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	56,044,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	17,624,000
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	1,792,000
Carrying value of customer accounts receivable	200,584,000
Percent of Total Accounts Receivable	0.139
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	7,036,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	21,169,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	13,854,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	5,123,000
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	687,000
Carrying value of customer accounts receivable	47,869,000
Percent of Total Accounts Receivable	0.033
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	3,937,000
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	18,003,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	9,810,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	4,060,000
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	652,000
Carrying value of customer accounts receivable	36,462,000
Percent of Total Accounts Receivable	0.025
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	77,232,000
Financing Receivable, Originated Two Years before Latest Fiscal Year	52,382,000
Financing Receivable, Originated Three Years before Latest Fiscal Year	22,477,000
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	3,948,000
Carrying value of customer accounts receivable	156,039,000
Percent of Total Accounts Receivable	$ 0.108

Customer Accounts Receivable -

Customer Accounts Receivable - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Feb. 01, 2020	Jan. 31, 2020
Receivables [Abstract]
Customer accounts receivable - current	$ 752,960
Allowance for credit losses for customer accounts receivable - current	(204,791)
Customer accounts receivable, net of allowances	548,169	$ 624,041	$ 673,742
Customer accounts receivable - non current	718,847
Allowance for credit losses for customer accounts receivable - non current	(188,462)
Long-term portion of customer accounts receivable, net of allowances	530,385	$ 614,799	663,761
Total customer accounts receivable, net	$ 1,078,554		$ 1,337,503

Charges and Credits (Details)

Charges and Credits (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Charges and Credits [Abstract]
Professional Fees	$ 2,055	$ 0
RegulatoryMatterandOtherLegalFee	0	(695)
Charges and credits	$ 2,055	$ (695)

Finance Charges and Other Rev_3

Finance Charges and Other Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Interest income and fees	$ 81,843	$ 84,017
Insurance income	4,752	7,314
Other revenues	235	202
Provisions for uncollectible interest	20,100	12,300
Other Income	86,830	91,533
Financing Receivable [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Interest income and fees	$ 9,500	$ 8,100

Debt and Financing Lease Obli_3

Debt and Financing Lease Obligations - Schedule of Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Long-term debt [Abstract]
Long-term debt	$ 611,498
Financing lease obligations	5,807	$ 5,209
Total debt and financing lease obligations	1,180,305	1,034,341
Less:
Discount on debt	(1,264)	(1,404)
Deferred debt issuance costs	(5,282)	(6,797)
Current maturities of long-term debt and financing lease obligations	(772)	(605)
Long-term debt and financing lease obligations	1,172,987	1,025,535
2017-B Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	35,421
2018-A VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	23,016
2018-A VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	13,880
2018-A VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	13,880
2019-A VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	46,906
2019-A VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	60,239
2019-A VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	58,155
2019-B VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	191,191
2019-B VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	85,540
2019-B VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	83,270
Senior Notes [Member]
Long-term debt [Abstract]
Long-term debt	227,000	227,000
Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	611,500
Secured Debt [Member] | 2017-B Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	35,421	59,655
Secured Debt [Member] | 2018-A VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	23,016	34,112
Secured Debt [Member] | 2018-A VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	13,880	20,572
Secured Debt [Member] | 2018-A VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	13,880	20,572
Secured Debt [Member] | 2019-A VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	46,906	76,241
Secured Debt [Member] | 2019-A VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	60,239	64,750
Secured Debt [Member] | 2019-A VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	58,155	62,510
Secured Debt [Member] | 2019-B VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	191,191	265,810
Secured Debt [Member] | 2019-B VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	85,540	85,540
Secured Debt [Member] | 2019-B VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	83,270	83,270
Revolving Credit Facility [Member]
Less:
Deferred debt issuance costs	(3,200)	(3,500)
Revolving Credit Facility [Member] | Line of Credit [Member]
Long-term debt [Abstract]
Long-term debt	$ 336,000	$ 29,100

Debt and Financing Lease Obli_4

Debt and Financing Lease Obligations - Senior Notes (Details) - USD ($)	Apr. 30, 2020	Jul. 01, 2014
Debt Instrument [Line Items]
Original principal amount	$ 1,304,690,000
Senior Notes [Member] | Senior Unsecured Notes Due July 2022 [Member]
Debt Instrument [Line Items]
Original principal amount		$ 250,000,000
Interest rate on notes (in hundredths)		7.25%
Effective interest rate		7.80%
Restrictions on payment of dividends, amount free from restriction	$ 162,000,000
Trigger amount under indenture		$ 25,000,000

Debt and Financing Lease Obli_5

Debt and Financing Lease Obligations - Asset Backed Notes (Details) - USD ($) $ in Thousands	Nov. 26, 2019	Apr. 24, 2019	Aug. 15, 2018	Dec. 20, 2017	Apr. 30, 2020
Debt Instrument [Line Items]
Original Principal Amount					$ 1,304,690
Original Net Proceeds					1,295,534
Current Principal Amount					611,498
2017-B Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					78,640
Original Net Proceeds				$ 77,843
Current Principal Amount					$ 35,421
Contractual Interest Rate					5.95%
Effective Interest Rate					6.44%
2018-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 219,200
Original Net Proceeds			$ 217,832
Current Principal Amount					$ 23,016
Contractual Interest Rate					3.25%
Effective Interest Rate					5.11%
2018-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 69,550
Original Net Proceeds			69,020
Current Principal Amount					$ 13,880
Contractual Interest Rate					4.65%
Effective Interest Rate					5.26%
2018-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 69,550
Original Net Proceeds			$ 68,850
Current Principal Amount					$ 13,880
Contractual Interest Rate					6.02%
Effective Interest Rate					6.61%
2019-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 254,530
Original Net Proceeds		$ 253,026
Current Principal Amount					$ 46,906
Contractual Interest Rate					3.40%
Effective Interest Rate					4.85%
2019-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 64,750
Original Net Proceeds		64,276
Current Principal Amount					$ 60,239
Contractual Interest Rate					4.36%
Effective Interest Rate					4.38%
2019-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 62,510
Original Net Proceeds		$ 61,898
Current Principal Amount					$ 58,155
Contractual Interest Rate					5.29%
Effective Interest Rate					5.09%
2019-B VIE Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 317,150
Original Net Proceeds	$ 315,417
Current Principal Amount					$ 191,191
Contractual Interest Rate					2.66%
Effective Interest Rate					4.06%
2019-B VIE Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 85,540
Original Net Proceeds	84,916
Current Principal Amount					$ 85,540
Contractual Interest Rate					3.62%
Effective Interest Rate					3.98%
2019-B VIE Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount					$ 83,270
Original Net Proceeds	$ 82,456
Current Principal Amount					$ 83,270
Contractual Interest Rate					4.60%
Effective Interest Rate					4.98%
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Monthly fee percentage on outstanding balance					4.75%

Debt and Financing Lease Obli_6

Debt and Financing Lease Obligations - Revolving Credit Facility (Details) - USD ($)	Jun. 05, 2020	May 23, 2018	Apr. 30, 2020	Mar. 18, 2020
Line of Credit Facility [Line Items]
Original principal amount			$ 1,304,690,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum capacity extended under credit facility		$ 650,000,000
Weighted-average interest rate			4.90%
Additional borrowing capacity				$ 275,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Unused capacity fee percentage		0.25%
Line of Credit [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Unused capacity fee percentage		0.50%
Line of Credit [Member] | Revolving Credit Facility [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Variable basis spread		1.00%
Line of Credit [Member] | Revolving Credit Facility [Member] | Alternate Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Variable basis spread		1.50%
Line of Credit [Member] | Revolving Credit Facility [Member] | Alternate Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Variable basis spread		2.25%
Line of Credit [Member] | Revolving Credit Facility [Member] | Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Variable basis spread		0.50%
Line of Credit [Member] | Letter of Credit [Member]
Line of Credit Facility [Line Items]
Original principal amount			$ 40,000,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity			151,700,000
Sub-facility for letters of credit			2,500,000
Additional borrowing capacity			$ 159,800,000
Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Variable basis spread		2.50%
Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Variable basis spread		3.25%
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Variable basis spread	1.00%
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member] | Alternate Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Variable basis spread	2.00%
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member] | Alternate Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Variable basis spread	2.75%
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member] | Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Variable basis spread	0.50%
Subsequent Event [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Variable basis spread	3.00%
Subsequent Event [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Variable basis spread	3.75%

Debt and Financing Lease Obli_7

Debt and Financing Lease Obligations - Debt Covenants (Details) $ in Millions	3 Months Ended
	Apr. 30, 2020USD ($)
Debt Disclosure [Abstract]
Debt Instrument, Minimum Interest Coverage Ratio	1
Debt Instrument, Minimum Interest Coverage Ratio, Trailing Two Quarters	1.50
Determination period	12 months
Actual
Leverage Ratio must not exceed (maximum)	2.31
ABS Excluded Leverage Ratio must not exceed (maximum)	1.20
Capital Expenditures, net, must not exceed (maximum)	$ 35.3
Required Minimum/ Maximum
Leverage Ratio must not exceed (maximum)	4
ABS Excluded Leverage Ratio must not exceed (maximum)	2
Capital Expenditures, net, must not exceed (maximum)	$ 100

Variable Interest Entities - A

Variable Interest Entities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Jan. 31, 2020
Variable Interest Entity [Line Items]
Long-term debt	$ 611,498
Asset-backed Securities [Member]
Variable Interest Entity [Line Items]
Monthly fee percentage on outstanding balance	4.75%
Secured Debt [Member]
Variable Interest Entity [Line Items]
Long-term debt	$ 611,500
2018-A VIE Class A Notes [Member]
Variable Interest Entity [Line Items]
Long-term debt	23,016
2018-A VIE Class A Notes [Member] | Secured Debt [Member]
Variable Interest Entity [Line Items]
Long-term debt	$ 23,016	$ 34,112

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019	Jan. 31, 2019
Assets:
Restricted cash	$ 73,455	$ 75,370
Customer accounts receivable:
Restructured accounts	224,081	211,857
Allowance for uncollectible accounts	(393,253)	(233,803)	$ (206,527)	$ (214,879)
Allowance for no-interest option credit programs	13,208	14,984
Total customer accounts receivable, net	1,078,554	1,337,503
Total assets	2,237,286	2,168,769	$ 2,090,284
Liabilities:
Total debt	611,498
Long-term debt	1,172,987	1,025,535
Less: deferred debt issuance costs	(5,282)	(6,797)
Total liabilities	1,741,477	1,541,589
2017-B Class C Notes [Member]
Liabilities:
Total debt	35,421
2018-A VIE Class A Notes [Member]
Liabilities:
Total debt	23,016
2018-A VIE Class B Notes [Member]
Liabilities:
Total debt	13,880
2018-A VIE Class C Notes [Member]
Liabilities:
Total debt	13,880
2019-A VIE Class A Notes [Member]
Liabilities:
Total debt	46,906
2019-A VIE Class B Notes [Member]
Liabilities:
Total debt	60,239
2019-A VIE Class C Notes [Member]
Liabilities:
Total debt	58,155
2019-B VIE Class A Notes [Member]
Liabilities:
Total debt	191,191
2019-B VIE Class B Notes [Member]
Liabilities:
Total debt	85,540
2019-B VIE Class C Notes [Member]
Liabilities:
Total debt	83,270
Secured Debt [Member]
Liabilities:
Total debt	611,500
Secured Debt [Member] | 2017-B Class C Notes [Member]
Liabilities:
Total debt	35,421	59,655
Secured Debt [Member] | 2018-A VIE Class A Notes [Member]
Liabilities:
Total debt	23,016	34,112
Secured Debt [Member] | 2018-A VIE Class B Notes [Member]
Liabilities:
Total debt	13,880	20,572
Secured Debt [Member] | 2018-A VIE Class C Notes [Member]
Liabilities:
Total debt	13,880	20,572
Secured Debt [Member] | 2019-A VIE Class A Notes [Member]
Liabilities:
Total debt	46,906	76,241
Secured Debt [Member] | 2019-A VIE Class B Notes [Member]
Liabilities:
Total debt	60,239	64,750
Secured Debt [Member] | 2019-A VIE Class C Notes [Member]
Liabilities:
Total debt	58,155	62,510
Secured Debt [Member] | 2019-B VIE Class A Notes [Member]
Liabilities:
Total debt	191,191	265,810
Secured Debt [Member] | 2019-B VIE Class B Notes [Member]
Liabilities:
Total debt	85,540	85,540
Secured Debt [Member] | 2019-B VIE Class C Notes [Member]
Liabilities:
Total debt	83,270	83,270
Variable Interest Entity [Member]
Assets:
Restricted cash	71,188	73,214
Due from Conn’s, Inc., net	11,861	307
Customer accounts receivable:
Customer accounts receivable	622,697	838,210
Restructured accounts	162,537	147,971
Allowance for uncollectible accounts	(230,707)	(151,263)
Allowance for no-interest option credit programs	8,350	12,445
Deferred fees and origination costs, net	(5,834)	(8,255)
Total customer accounts receivable, net	540,343	814,218
Total assets	623,392	887,739
Liabilities:
Accrued expenses	4,524	5,517
Other liabilities	7,584	7,584
Total debt	607,920	768,121
Long-term debt	611,498	773,032
Less: deferred debt issuance costs	(3,578)	(4,911)
Total liabilities	$ 620,028	$ 781,222

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2020USD ($)segmentstorestate	Apr. 30, 2019USD ($)	Jan. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Estimated annual rate of reimbursement (in hundredths)	2.50%
Number of states with retail stores | state	14
Revenues:
Other Income	$ 86,830	$ 91,533
Total revenues	317,160	353,512
Total Net Sales	230,330	261,979
Costs and expenses:
Cost of goods sold	147,014	157,228
Selling, general and administrative expense	113,007	117,914
Provision for bad debts	117,326	40,046
Charges and credits	2,055	(695)
Total costs and expenses	379,402	314,493
Operating income (loss)	(62,242)	39,019
Interest expense	14,993	14,497
Income (loss) before income taxes	(77,235)	24,522
Allocation of overhead by operating segments	7,300	7,900
Assets	2,237,286	2,090,284	$ 2,168,769
Intersegment Eliminations [Member]
Revenues:
Total revenues	9,800	9,700
Retail [Member]
Revenues:
Other Income	235	202
Total revenues	230,565	262,181
Total Net Sales	230,330	261,979
Costs and expenses:
Cost of goods sold	147,014	157,228
Selling, general and administrative expense	78,174	79,622
Provision for bad debts	168	129
Charges and credits	0	(695)
Total costs and expenses	225,356	236,284
Operating income (loss)	5,209	25,897
Interest expense	0	0
Income (loss) before income taxes	5,209	25,897
Assets	607,210	613,117
Credit [Member]
Revenues:
Other Income	86,595	91,331
Total revenues	86,595	91,331
Total Net Sales	0	0
Costs and expenses:
Cost of goods sold	0	0
Selling, general and administrative expense	34,833	38,292
Provision for bad debts	117,158	39,917
Charges and credits	2,055	0
Total costs and expenses	154,046	78,209
Operating income (loss)	(67,451)	13,122
Interest expense	14,993	14,497
Income (loss) before income taxes	(82,444)	(1,375)
Assets	1,630,076	1,477,167
Furniture and Mattress [Member]
Revenues:
Total revenues	68,893	88,364
Furniture and Mattress [Member] | Retail [Member]
Revenues:
Total revenues	68,893	88,364
Furniture and Mattress [Member] | Credit [Member]
Revenues:
Total revenues	0	0
Home Appliance [Member]
Revenues:
Total revenues	81,285	77,290
Home Appliance [Member] | Retail [Member]
Revenues:
Total revenues	81,285	77,290
Home Appliance [Member] | Credit [Member]
Revenues:
Total revenues	0	0
Consumer Electronic [Member]
Revenues:
Total revenues	35,776	49,649
Consumer Electronic [Member] | Retail [Member]
Revenues:
Total revenues	35,776	49,649
Consumer Electronic [Member] | Credit [Member]
Revenues:
Total revenues	0	0
Home Office [Member]
Revenues:
Total revenues	17,366	15,706
Home Office [Member] | Retail [Member]
Revenues:
Total revenues	17,366	15,706
Home Office [Member] | Credit [Member]
Revenues:
Total revenues	0	0
Other [Member]
Revenues:
Total revenues	3,878	3,436
Other [Member] | Retail [Member]
Revenues:
Total revenues	3,878	3,436
Other [Member] | Credit [Member]
Revenues:
Total revenues	0	0
Product [Member]
Revenues:
Total revenues	207,198	234,445
Product [Member] | Retail [Member]
Revenues:
Total revenues	207,198	234,445
Product [Member] | Credit [Member]
Revenues:
Total revenues	0	0
RSA Commission [Member]
Revenues:
Total revenues	20,101	24,024
RSA Commission [Member] | Retail [Member]
Revenues:
Total revenues	20,101	24,024
RSA Commission [Member] | Credit [Member]
Revenues:
Total revenues	0	0
Service [Member]
Revenues:
Total revenues	3,031	3,510
Service [Member] | Retail [Member]
Revenues:
Total revenues	3,031	3,510
Service [Member] | Credit [Member]
Revenues:
Total revenues	$ 0	$ 0
Outside of US [Member]
Segment Reporting Information [Line Items]
Number of stores | store	0

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Jun. 05, 2020USD ($)	Apr. 30, 2020
Subsequent Event [Line Items]
ABS Excluded Leverage Ratio must not exceed (maximum)		2
Leverage Ratio must not exceed (maximum)		4
Subsequent Event [Member]
Subsequent Event [Line Items]
Minimum liquidity amount	$ 125
ABS Excluded Leverage Ratio must not exceed (maximum)	2.50
Leverage Ratio must not exceed (maximum)	4.50
Minimum availability requirement (percentage)	25.00%
Minimum availability requirement	$ 75
Anti-cash covenant threshold	100
Restricted investments covenant	$ 50

Uncategorized Items - conn-2020

Label	Element	Value
Accounting Standards Update 2016-13 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (76,491,000)
Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(76,491,000)
Accounting Standards Update 2016-02 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	6,160,000
Accounting Standards Update 2016-02 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 6,160,000