Conns (CONNQ) 10-Q 18 Dec 23 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Oct. 31, 2023	Dec. 04, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2023
Document Transition Report	false
Entity File Number	001-34956
Entity Registrant Name	CONN’S, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1672840
Entity Address, Address Line One	2445 Technology Forest Blvd.,
Entity Address, Address Line Two	Suite 800,
Entity Address, City or Town	The Woodlands,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77381
City Area Code	936
Local Phone Number	230-5899
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CONN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,550,113
Entity Central Index Key	0001223389
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023
Current assets:
Cash and cash equivalents	$ 5,562	$ 19,534
Restricted cash (includes VIE balances of $39,321 and $38,727, respectively)	41,430	40,837
Customer accounts receivable, net of allowances (includes VIE balances of $269,200 and $251,689, respectively)	424,940	421,683
Other accounts receivable	52,020	56,887
Inventories	231,814	240,783
Income taxes receivable	40,933	38,436
Prepaid expenses and other current assets	11,496	12,937
Total current assets	808,195	831,097
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $176,188 and $181,575, respectively)	355,092	389,054
Property and equipment, net	214,770	218,956
Operating lease assets	335,423	262,104
Other assets	12,912	15,004
Total assets	1,726,392	1,716,215
Current liabilities:
Short-term debt and current finance lease obligations	7,934	937
Accounts payable	66,540	71,685
Accrued compensation and related expenses	18,618	13,285
Accrued expenses	73,205	69,334
Operating lease liability - current	60,303	53,208
Income taxes payable	2,439	2,869
Deferred revenues and other credits	10,229	11,043
Total current liabilities	239,268	222,361
Operating lease liability - non current	403,531	331,109
Long-term Debt and Lease Obligation	673,472	636,079
Deferred Income Tax Liabilities, Net	1,952	2,041
Other long-term liabilities	17,601	22,215
Total liabilities	1,335,824	1,213,805
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock, shares outstanding (in shares)	0	0
Preferred Stock, Value, Issued	$ 0	$ 0
Common Stock, Value, Issued	339	334
Treasury Stock, Value	(193,370)	(193,370)
Additional paid-in capital	163,584	155,523
Retained earnings	420,015	539,923
Total stockholders’ equity	390,568	502,410
Total liabilities and stockholders’ equity	1,726,392	$ 1,716,215
Long-term Debt	$ 405,841

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023
Restricted cash	$ 41,430	$ 40,837
Customer accounts receivable, net of allowances (includes VIE balances of $269,200 and $251,689, respectively)	424,940	421,683
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $176,188 and $181,575, respectively)	355,092	$ 389,054
Long-term Debt	$ 405,841
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)	33,861,000	33,379,000
Treasury Stock, Common, Shares	9,405,000
Variable Interest Entity
Restricted cash	$ 39,321	$ 38,727
Customer accounts receivable, net of allowances (includes VIE balances of $269,200 and $251,689, respectively)	269,200	251,689
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $176,188 and $181,575, respectively)	176,188	181,575
Long-term Debt	$ 389,628	$ 410,790

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Revenues:
Total net sales	$ 218,452	$ 254,358	$ 684,644	$ 806,133
Finance charges and other revenues	61,678	66,842	186,962	201,519
Total revenues	280,130	321,200	871,606	1,007,652
Costs and expenses:
Cost of goods sold	146,362	169,842	448,280	530,942
Selling, general and administrative expense	131,032	126,243	395,244	389,169
Provision for bad debts	39,123	35,104	101,334	77,059
Charges and credits, net	2,071	8,006	1,264	6,522
Total costs and expenses	318,588	339,195	946,122	1,003,692
Operating (loss) income	(38,458)	(17,995)	(74,516)	3,960
Interest expense	22,448	11,478	55,614	23,807
Loss before income taxes	(60,906)	(29,473)	(130,130)	(19,847)
Benefit for income taxes	(9,609)	(4,634)	(9,936)	(3,358)
Net loss	$ (51,297)	$ (24,839)	$ (120,194)	$ (16,489)
Net loss per share:
Basic (in dollars per share)	$ (2.11)	$ (1.04)	$ (4.97)	$ (0.68)
Diluted (in dollars per share)	$ (2.11)	$ (1.04)	$ (4.97)	$ (0.68)
Weighted average common shares outstanding:
Basic (in shares)	24,262,000	23,911,000	24,196,000	24,173,000
Diluted (in shares)	24,262,000	23,911,000	24,196,000	24,173,000
Product
Revenues:
Total net sales	$ 200,226	$ 233,176	$ 626,324	$ 738,598
RSA Commission
Revenues:
Total net sales	15,938	18,804	51,600	60,256
Service
Revenues:
Total net sales	$ 2,288	$ 2,378	$ 6,720	$ 7,279

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY Statement - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common
Treasury Stock, Common, Shares					6,089,000
Balance (in shares) at Jan. 31, 2022		33,015,000
Balance at Jan. 31, 2022	$ 614,819	$ 330	$ 140,419	$ 599,215	$ (125,145)
Exercise of options and vesting of restricted stock, net of tax (in shares)		163,000
Exercise of options and vesting of restricted stock, net of withholding tax	(2,027)	$ 2	(2,029)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		14,000
Issuance of common stock under Employee Stock Purchase Plan	194		194
Stock-based compensation	3,409		3,409
Stock Repurchased During Period, Value	(68,225)				$ (68,225)
Stock Repurchased During Period, Shares					(3,316,000)
Net loss	6,221			6,221
Balance (in shares) at Apr. 30, 2022		33,192,000
Balance at Apr. 30, 2022	554,391	$ 332	141,993	605,436	$ (193,370)
Balance (in shares) at Jan. 31, 2022		33,015,000
Balance at Jan. 31, 2022	614,819	$ 330	140,419	599,215	(125,145)
Net loss	(16,489)
Balance (in shares) at Oct. 31, 2022		33,341,000
Balance at Oct. 31, 2022	543,106	$ 333	153,417	582,726	$ (193,370)
Treasury Stock, Common, Shares					(9,405,000)
Balance (in shares) at Apr. 30, 2022		33,192,000
Balance at Apr. 30, 2022	554,391	$ 332	141,993	605,436	$ (193,370)
Exercise of options and vesting of restricted stock, net of tax (in shares)		50,000
Exercise of options and vesting of restricted stock, net of withholding tax	(83)		(83)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		31,000
Issuance of common stock under Employee Stock Purchase Plan	216		216
Stock-based compensation	3,224		3,224
Net loss	2,129			2,129
Balance (in shares) at Jul. 31, 2022		33,273,000
Balance at Jul. 31, 2022	559,877	$ 332	145,350	607,565	$ (193,370)
Treasury Stock, Common, Shares					(9,405,000)
Exercise of options and vesting of restricted stock, net of tax (in shares)		36,000
Exercise of options and vesting of restricted stock, net of withholding tax	(241)	$ 1	(242)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		32,000
Issuance of common stock under Employee Stock Purchase Plan	201		201
Stock-based compensation	8,108		8,108
Net loss	(24,839)
Balance (in shares) at Oct. 31, 2022		33,341,000
Balance at Oct. 31, 2022	543,106	$ 333	153,417	582,726	$ (193,370)
Treasury Stock, Common, Shares					(9,405,000)
Treasury Stock, Common, Shares					9,405,000
Balance (in shares) at Jan. 31, 2023		33,379,000
Balance at Jan. 31, 2023	502,410	$ 334	155,523	539,923	$ (193,370)
Balance (Accounting Standards Update 2022-02 Cumulative Effect, Period of Adoption [Member]) at Jan. 31, 2023	286			286
Exercise of options and vesting of restricted stock, net of tax (in shares)		167,000
Exercise of options and vesting of restricted stock, net of withholding tax	(927)	$ 2	(929)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		31,000
Issuance of common stock under Employee Stock Purchase Plan	154		154
Stock-based compensation	2,964		2,964
Net loss	(35,380)			(35,380)
Balance (in shares) at Apr. 30, 2023		33,577,000
Balance at Apr. 30, 2023	469,507	$ 336	157,712	504,829	(193,370)
Balance (in shares) at Jan. 31, 2023		33,379,000
Balance at Jan. 31, 2023	502,410	$ 334	155,523	539,923	(193,370)
Balance (Accounting Standards Update 2022-02 Cumulative Effect, Period of Adoption [Member]) at Jan. 31, 2023	286			286
Net loss	(120,194)
Balance (in shares) at Oct. 31, 2023		33,861,000
Balance at Oct. 31, 2023	390,568	$ 339	163,584	420,015	$ (193,370)
Treasury Stock, Common, Shares					(9,405,000)
Balance (in shares) at Apr. 30, 2023		33,577,000
Balance at Apr. 30, 2023	469,507	$ 336	157,712	504,829	$ (193,370)
Exercise of options and vesting of restricted stock, net of tax (in shares)		63,000
Exercise of options and vesting of restricted stock, net of withholding tax	(27)		(27)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		54,000
Issuance of common stock under Employee Stock Purchase Plan	169		169
Stock-based compensation	3,190		3,190
Net loss	(33,517)			(33,517)
Balance (in shares) at Jul. 31, 2023		33,694,000
Balance at Jul. 31, 2023	439,322	$ 336	161,044	471,312	$ (193,370)
Treasury Stock, Common, Shares					(9,405,000)
Exercise of options and vesting of restricted stock, net of tax (in shares)		131,000
Exercise of options and vesting of restricted stock, net of withholding tax	(285)	$ 3	(285)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		36,000
Issuance of common stock under Employee Stock Purchase Plan	123		120
Stock-based compensation	2,705		2,705
Net loss	(51,297)			(51,297)
Balance (in shares) at Oct. 31, 2023		33,861,000
Balance at Oct. 31, 2023	$ 390,568	$ 339	$ 163,584	$ 420,015	$ (193,370)
Treasury Stock, Common, Shares	9,405,000				(9,405,000)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent	$ (120,194)	$ (16,489)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation	36,430	34,352
Impairment of Long-Lived Assets to be Disposed of	3,500	0
Change in right-of-use asset	50,046	29,471
Amortization of debt issuance costs	16,218	5,308
Provision for bad debts and uncollectible interest	131,630	115,697
Stock-based compensation expense	8,858	9,004
Charges and credits, net	1,264	6,522
Deferred income taxes	122	2,299
Gain (Loss) on Disposition of Property Plant Equipment	2,816	562
Tenant improvement allowances received from landlords	18,723	8,959
Change in operating assets and liabilities:
Customer accounts receivable	(100,175)	(42,390)
Other accounts receivable	4,488	3,065
Inventories	8,969	(12,459)
Other assets	4,304	(1,796)
Accounts payable	(7,215)	5,160
Accrued expenses	9,941	(22,745)
Operating leases	(60,821)	(41,149)
Income taxes	(11,200)	(6,588)
Increase (Decrease) in Contract with Customer, Liability	2,549	(4,252)
Net cash provided by operating activities	253	72,531
Cash flows from investing activities:
Purchases of property and equipment	(40,235)	(50,206)
Net cash used in investing activities	(40,235)	(50,206)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	273,670	407,690
Payments on asset-backed notes	(299,430)	(300,953)
Borrowings under revolving credit facility	619,396	903,223
Payments on revolving credit facility	(555,396)	(938,223)
Payments of debt issuance costs and amendment fees	(17,190)	(5,651)
Proceeds from stock issued under employee benefit plans	445	611
Tax payments associated with equity-based compensation transactions	(1,238)	(2,353)
Payments for Repurchase of Common Stock	0	71,696
Other	6,346	(674)
Net cash provided by (used in) financing activities	26,603	(8,026)
Net change in cash, cash equivalents and restricted cash	(13,379)	14,299
Cash, cash equivalents and restricted cash, beginning of period	60,371	39,637
Cash, cash equivalents and restricted cash, end of period	46,992	53,936
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	121,616	40,417
Property and equipment purchases not yet paid	16,525	19,643
Supplemental cash flow data:
Cash interest paid	37,192	16,513
Cash income taxes paid, net	$ 1,437	$ 931

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 31, 2023
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 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, 2023 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, 2023 (the “2023 Form 10-K”) filed with the United States Securities and Exchange Commission (the “SEC”) on March 29, 2023. Reclassification of prior year presentation. Certain prior year amounts have been reclassified for consistency with the current year presentation. 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 (VIE). 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 October 31, 2023 and January 31, 2023, cash and cash equivalents included cash and credit card deposits in transit. Credit card deposits in transit included in cash and cash equivalents were $2.8 million and $5.2 million as of October 31, 2023 and January 31, 2023, respectively. Restricted Cash. The restricted cash balance as of October 31, 2023 and January 31, 2023 includ es $32.3 million and $33.6 million, respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $7.0 million and $5.2 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. 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. 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 October 31, 2023 and January 31, 2023, there was $7.8 million and $8.1 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 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 October 31, 2023 and January 31, 2023, the carrying value of customer accounts receivable in non-accrual status was $8.7 million and $7.9 million, respectively. At October 31, 2023 and January 31, 2023, the carrying value of customer accounts receivable that were past due 90 days or more and still accruing interest totaled $81.0 million and $92.2 million, respectively. At October 31, 2023 and January 31, 2023, the carrying value of customer accounts receivable in a bankruptcy status that were less than 60 days past due was $8.1 million and $7.1 million, respectively, and are included within the customer receivables balance carried in non-accrual status. Allowance for Doubtful Accounts. The determination of the amount of the allowance for credit losses is, by nature, highly complex and subjective. Future events that are inherently uncertain could result in material changes to the level of the allowance for credit losses. General economic conditions, changes to state or federal regulations and a variety of other factors that affect the ability of borrowers to service their debts or our ability to collect will impact the future performance of the portfolio. We establish an allowance for credit losses, including estimated uncollectible interest, to cover expected credit losses on our customer accounts receivable resulting from the failure of customers to make contractual payments. Our customer accounts receivable portfolio balance consists of a large number of relatively small, homogeneous accounts. None of our accounts are large enough to warrant individual evaluation for impairment. The allowance for credit losses is measured on a collective (pool) basis where similar risk characteristics exist. The allowance for credit losses is determined for each pool and added to the pool’s carrying amount to establish a new amortized cost basis. We 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 uses 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 revisit our measurement methodology assumptions annually, or more frequently if circumstances warrant. As of October 31, 2023 and January 31, 2023, the balance of allowance for doubtful accounts and uncollectible interest for non-restructured customer receivables was $135.0 million and $150.6 million, respectively. As of October 31, 2023 and January 31, 2023, the amount included in the allowance for doubtful accounts associated with principal and interest on restructured accounts was $35.4 million and $33.6 million, respectively. 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 short and 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 $3.6 million and $5.4 million as of October 31, 2023 and January 31, 2023, respectively. Income Taxes. For the nine months ended October 31, 2023 and 2022, we utilized the estimated annual effective tax rate based on our estimated fiscal year 2024 and 2023 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 nine months ended October 31, 2023 and 2022, the effective tax rate was 7.6% and 16.9%, respectively. The primary factor affecting the decrease in our effective tax rate for the nine months ended October 31, 2023 was the impact of a valuation allowance, partially offset by the recognition of an uncertain tax benefit. Stock-based Compensation. During the nine months ended October 31, 2023, the Company granted performance stock awards (“PSUs”) and restricted stock awards (“RSUs”). The awards had a combined aggregate grant date fair value of $11.8 million. The PSUs will vest in fiscal year 2027, if at all, upon certification by the Compensation Committee of the Board of Directors of satisfaction of certain total stockholder return performance conditions over the three fiscal years commencing with fiscal year 2024. The RSUs will vest ratably, over periods of three years from the date of grant. Stock-based compensation expense is recorded, net of actual forfeitures, for share-based compensation awards over the requisite service period using the straight-line method. 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 and nine months ended October 31, 2023 and 2022: Three Months Ended Nine Months Ended 2023 2022 2023 2022 RSUs (1) 186 155 1,369 631 PSUs (2) — — 174 177 Total stock awards granted 186 155 1,543 808 Aggregate grant date fair value (in thousands) $ 809 $ 1,162 $ 11,794 $ 16,924 (1) The RSUs issued during the three and nine months ended October 31, 2023 and 2022 are scheduled to vest ratably over periods of three years to four years from the date of grant with the exception of RSU grants issued to the Board of Directors. (2) The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the nine months ended October 31, 2023 included expected volatility of 73.0%, an expected term of 3 years and risk-free interest rate of 3.75%. No dividend yield was included in the weighted-average assumptions for the PSUs granted during the nine months ended October 31, 2023. The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the nine months ended October 31, 2022 included expected volatility of 78.0%-80.0%, an expected term of 3 years and risk-free interest rate of 1.39%-2.58%. No dividend yield was included in the weighted average assumptions for the PSUs granted during the nine months ended October 31, 2022. For the three months ended October 31, 2023 and 2022, stock-based compensation expense was $2.7 million and $2.4 million, respectively. For the nine months ended October 31, 2023 and 2022, stock-based compensation expense was $8.9 million and $9.0 million, respectively. Earnings per Share. Basic earnings per share for a particular period is calculated by dividing net income 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 (in thousands): Three Months Ended Nine Months Ended October 31, 2023 2022 2023 2022 Weighted-average common shares outstanding - Basic 24,262 23,911 24,196 24,173 Dilutive effect of stock options, PSUs and RSUs — — — — Weighted-average common shares outstanding - Diluted 24,262 23,911 24,196 24,173 For the three months ended October 31, 2023 and 2022, the weighted average number of stock options, RSUs and PSUs not included in the calculation due to their anti-dilutive effect, was 2,077,360 and 1,545,180, respectively. For the nine months ended October 31, 2023 and 2022, the weighted average number of stock options, RSUs and PSUs not included in the calculation due to their anti-dilutive effect, was 2,066,473 and 1,429,381, 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 and Term Loan approximates carrying value based on the current borrowing rate for similar types of borrowing arrangements. At October 31, 2023, the fair value of the asset backed notes was $396.5 million as compared to the carrying value o f $405.8 million a nd 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 nine months ended October 31, 2023, we recognized $3.1 million of revenue for customer deposits deferred as of January 31, 2023. During the nine months ended October 31, 2023, we recognized $2.2 million of revenue for RSA administrative fees deferred as of January 31, 2023. Recent Accounting Pronouncements Adopted. Financial Instruments - Troubled Debt Restructurings and Vintage Disclosures. In March 2022, the FASB issued Accounting Standards Update ("ASU") 2022-02 ("ASU 2022-02"), Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, an update that eliminates the accounting guidance for troubled debt restructurings ("TDR") by creditors in Accounting Standard Codification 310 - Receivables ("ASC 310-40") while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Under ASU 2022-02, the use of a discounted cash flow method is no longer required when measuring expected credit losses on modified loans. The ASU also refines existing credit-related disclosures by requiring disclosure of current-period gross charge-offs of receivables by year of origination. The amendments in the ASU are to be applied prospectively to modifications and disclosures of gross charge-offs, and, as such, there will be no comparative disclosures to prior periods until such time as both periods disclosed are subject to the new guidelines. However, adoption on a modified retrospective basis is permitted for the effect on the allowance for credit losses related to the elimination of the TDR recognition and measurement guidance. The ASU became effective for the Company on February 1, 2023. Upon adoption, the Company recorded an adjustment to reduce the beginning balance of its allowance for credit losses by $0.4 million to reflect the elimination of the measurement guidance related to TDRs with an offsetting increase, net of tax, to beginning retained earnings. Liabilities - Supplier Finance Programs ASU 2022-04. In September 2022, the FASB issued Accounting Standards Update ("ASU") 2022-04 ("ASU 2022-04"), Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, an update that requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. The ASU became effective for the Company in the second quarter of fiscal year 2024. The adoption did not have a material impact on our consolidated financial statements.

Customer Accounts Receivable

Customer Accounts Receivable	9 Months Ended
	Oct. 31, 2023
Receivables [Abstract]
Customer Accounts Receivable	Customer Accounts Receivable Customer accounts receivable consisted of the following: (in thousands) October 31, January 31, Customer accounts receivable (1)(2) $ 979,149 $ 1,025,364 Deferred fees and origination costs, net (11,154) (11,699) Allowance for no-interest option credit programs (18,094) (18,753) Allowance for uncollectible interest and fees (16,991) (20,007) Carrying value of customer accounts receivable 932,910 974,905 Allowance for credit losses (3) (153,340) (164,168) Other net customer receivables 462 — Carrying value of customer accounts receivable, net of allowance for credit losses 780,032 810,737 Short-term portion of customer accounts receivable, net (424,940) (421,683) Long-term customer accounts receivable, net $ 355,092 $ 389,054 (1) As of October 31, 2023 and January 31, 2023, the customer accounts receivable balance included $25.5 million a nd $27.5 million, respectively, in interest receivable. Interest receivable outstanding, net of the allowance for uncollectible interest, as of October 31, 2023 and January 31, 2023 wa s $8.5 million and $7.5 million respectively. (2) As of October 31, 2023 and January 31, 2023, the carrying value of customer accounts receivable past due one day or greater was $266.9 million and $290.4 million, respectively. Further, the carrying value of customer accounts receivable which received a re-age at least once during the lifetime of the loan wa s $168.5 million and $160.9 million as of October 31, 2023 and January 31, 2023, respectively. (3) As of October 31, 2023 and January 31, 2023, the allowance for credit losses is presented net of recovery receivables of $48.0 million and $47.4 million, respectively. 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) October 31, 2023 January 31, 2023 Customer accounts receivable - current $ 511,212 $ 517,611 Allowance for credit losses for customer accounts receivable - current (86,272) (95,928) Customer accounts receivable, net of allowances 424,940 421,683 Customer accounts receivable - non current 439,152 477,301 Allowance for credit losses for customer accounts receivable - non current (84,060) (88,247) Long-term portion of customer accounts receivable, net of allowances 355,092 389,054 Total customer accounts receivable, net $ 780,032 $ 810,737 The following presents the activity in our allowance for credit losses and uncollectible interest for customer receivables: Nine Months Ended October 31, 2023 Nine Months Ended October 31, 2022 (in thousands) Customer Customer Total Allowance at beginning of period 1/31/23 $ 150,579 $ 33,595 $ 184,174 $ 165,044 $ 43,976 $ 209,020 ASU 2022-02 Adjustment — (372) (372) — — — Adjusted allowance at beginning of period 150,579 33,223 183,802 165,044 43,976 209,020 Provision for credit loss expense (1) 100,256 30,530 130,786 89,078 25,771 114,849 Principal charge-offs (2) (111,303) (27,262) (138,565) (100,214) (34,222) (134,436) Interest charge-offs (26,757) (6,554) (33,311) (24,016) (8,201) (32,217) Recoveries (2) 22,185 5,434 27,619 22,708 7,754 30,462 Allowance at end of period $ 134,960 $ 35,371 $ 170,331 $ 152,600 $ 35,078 $ 187,678 Average total customer portfolio balance $ 906,280 $ 84,098 $ 990,378 $ 972,943 $ 89,042 $ 1,061,985 (1) Includes provision for uncollectible interest, which is included in finance charges and other revenues, and changes in expected future recoveries. (2) Charge-offs include the principal amount of losses (excluding accrued and unpaid interest). Recoveries include the principal amount collected during the period for previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries. 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 calendar year of origination. The information is presented as of October 31, 2023: (in thousands) Delinquency Bucket 2023 2022 2021 2020 Prior Total % of Total Current $ 380,667 $ 204,074 $ 74,007 $ 5,785 $ 1,482 $ 666,015 71.4 % 1-30 50,045 48,007 23,734 3,342 841 125,969 13.5 % 31-60 14,179 14,054 7,689 1,566 499 37,987 4.1 % 61-90 8,109 7,932 4,306 846 335 21,528 2.3 % 91+ 24,573 33,588 18,245 3,643 1,362 81,411 8.7 % Total $ 477,573 $ 307,655 $ 127,981 $ 15,182 $ 4,519 $ 932,910 100.0 % Gross Charge-offs for the nine months ended October 31, 2023 $ 4,318 $ 62,790 $ 51,422 $ 12,911 $ 7,124 $ 138,565 Loan Modifications Made to Borrowers Experiencing Financial Difficulty In an effort to mitigate losses on our accounts receivable, we may modify a loan to a borrower experiencing financial difficulty. 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. We may provide concessions in the form of balance forgiveness to customers experiencing financial difficulty. Balance forgiveness is primarily comprised of reductions in the principal balance of the loan but may also include reductions in uncollected fees or interest balances. We may also provide the customer the ability to refinance their account, which includes reducing the interest rate and extending the term of the loan, and generally includes waiving certain uncollected fees. We consider accounts that have been re-aged in excess of three months (“significantly re-aged”), refinanced, or with significant concessions as “restructured accounts”. The following tables show the amortized cost basis of loans modified during the three and nine months ended October 31, 2023 (since the adoption of ASU 2022-02) to borrowers experiencing financial difficulty disaggregated by modification type: (in thousands) Three Months Ended October 31, 2023 Modification Type Carrying Value % of Carrying Value of Customer Accounts Receivable Significantly re-aged $ 10,513 1.1 % Balance forgiveness 88 — % Refinance 75 — % Combination - significantly re-aged & balance forgiveness 80 — % Total modifications $ 10,756 1.1 % (in thousands) Nine Months Ended October 31, 2023 Modification Type Carrying Value % of Carrying Value of Customer Accounts Receivable Significantly re-aged $ 34,855 3.6 % Balance forgiveness 154 — % Refinance 311 — % Combination - significantly re-aged & balance forgiveness 254 — % Total modifications $ 35,574 3.6 % Loan receivables that have been modified are subject to the same requirements for the accrual of expected credit losses over their expected remaining lives as are unmodified loan receivables. The allowance for credit losses incorporates modeling of historical loss data and thereby captures the higher risk associated with modified loans to borrowers experiencing financial difficulty based on their account attributes. The Company monitors the performance of modified loans to borrowers experiencing financial difficulty. The following tables depict the delinquency distribution of loans that were modified on or after February 1, 2023, the date we adopted ASU 2022-02: (in thousands) Three Months Ended October 31, 2023 Current 1 - 30 31 - 60 61 - 90 91+ Total Significantly re-aged $ 6,375 $ 2,558 $ 1,026 $ 112 $ 442 $ 10,513 Balance forgiveness 25 9 9 4 41 88 Refinance 54 10 10 — 1 75 Combination - significantly re-aged & balance forgiveness 61 13 1 — 5 80 Total $ 6,515 $ 2,590 $ 1,046 $ 116 $ 489 $ 10,756 (in thousands) Nine Months Ended October 31, 2023 Current 1 - 30 31 - 60 61 - 90 91+ Total Significantly re-aged $ 15,402 $ 8,023 $ 4,063 $ 2,245 $ 5,122 $ 34,855 Balance forgiveness 43 12 8 13 78 154 Refinance 157 66 20 9 59 311 Combination - significantly re-aged & balance forgiveness 109 38 13 5 89 254 Total $ 15,711 $ 8,139 $ 4,104 $ 2,272 $ 5,348 $ 35,574 The following tables describe the financial effect of the modifications made to customers experiencing financial difficulty: Three Months ended October 31, 2023 Significantly re-aged Payment delay duration (in months) 4 to 8 Balance forgiveness Balance forgiven (in thousands) $ 11 Refinance Weighted-average interest rate reduction 8.26 % Term extension duration (in months) 28 Balance forgiven (in thousands) $ 12 Combination - significantly re-aged & balance forgiveness Payment delay duration (in months) 4 to 8 Balance forgiven (in thousands) $ 14 Nine Months Ended October 31, 2023 Significantly re-aged Payment delay duration (in months) 4 to 8 Balance forgiveness Balance forgiven (in thousands) $ 20 Refinance Weighted-average interest rate reduction 6.70 % Term extension duration (in months) 27 Balance forgiven (in thousands) $ 36 Combination - significantly re-aged & balance forgiveness Payment delay duration (in months) 4 to 8 Balance forgiven (in thousands) $ 44 Troubled Debt Restructurings Prior to the Adoption of ASU 2022-02 Prior to the adoption of ASU 2022-022, loans were classified as TDRs based on modifications made over the lifetime of the loan. The amortized cost basis of loans categorized as TDRs as of January 31, 2023 was $76.8 million . Conversely, ASU 2022-02 only requires disclosures of loans modified during the most recent 12 months and the subsequent performance of such loans, which the Company is applying on a prospective basis. Further, the Company previously utilized the discounted cash flow method when measuring the expected credit losses of certain refinanced accounts as prescribed under ASC 310: Receivables. Through the adoption of ASU 2022-02, this recognition and measurement guidance was eliminated, and the measurement is now performed in accordance with ASC 326: Financial Instruments - Credit Losses. Upon adoption of ASU 2022-02, the allowance for credit losses was reduced by $0.4 million due to the change in guidance.

Charges and Credits

Charges and Credits	9 Months Ended
	Oct. 31, 2023
Charges and Credits [Abstract]
Charges and Credits	3. Charges and Credits, net Charges and credits consisted of the following: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Lease termination $ — $ — $ — $ (1,484) Employee severance — 8,006 — 8,006 Store closure — — 2,340 — Asset sale — — (3,147) — Professional fees 2,071 — 2,071 — Total charges and credits, net $ 2,071 $ 8,006 $ 1,264 $ 6,522 During the three and nine months ended October 31, 2023, we recognized $2.1 million in professional fees related to corporate transactions. During the nine months ended October 31, 2023 we recognized a $3.1 million gain related to the sale of a single store location net of asset disposal costs and $2.3 million in store closure costs related to the impairment of assets associated with the decision to end the store-within-a-store test with Belk, Inc. During the three months ended October 31, 2022 we recognized $8.0 million in severance costs related to a change in the executive management team. During the nine months ended October 31, 2022, we recognized a $1.5 million gain related to the termination of a lease for a single store location and $8.0 million in severance costs related to a change in the executive management team.

Finance Charges and Other Reven

Finance Charges and Other Revenue	9 Months Ended
	Oct. 31, 2023
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 Nine Months Ended (in thousands) 2023 2022 2023 2022 Interest income and fees $ 55,290 $ 61,395 $ 169,535 $ 185,869 Insurance income 4,922 5,176 14,729 14,835 Other revenues 1,466 271 2,698 815 Total finance charges and other revenues $ 61,678 $ 66,842 $ 186,962 $ 201,519 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.

Debt and Financing Lease Obliga

Debt and Financing Lease Obligations	9 Months Ended
	Oct. 31, 2023
Debt Disclosure [Abstract]
Debt and Financing Lease Obligations	Debt and Financing Lease Obligations Debt and financing lease obligations consisted of the following: (in thousands) October 31, January 31, Revolving credit facility $ 185,000 $ 221,000 Term Loan 100,000 — Delayed Draw Term Loan — — 2021-A VIE Asset-backed Class B Notes — 54,597 2021-A VIE Asset-backed Class C Notes 33,448 63,890 2022-A VIE Asset-backed Class A Notes — 117,935 2022-A VIE Asset-backed Class B Notes 86,706 132,090 2022-A VIE Asset-backed Class C Notes 63,090 63,090 2023-A VIE Asset-backed Class A Notes 109,617 — 2023-A VIE Asset-backed Class B Notes 82,430 — 2023-A VIE Asset-backed Class C Notes 30,550 — Financing lease obligations and other short-term debt 12,436 5,226 Total debt and financing lease obligations 703,277 657,828 Less: Deferred debt issuance costs (21,871) (20,812) Current maturities of long-term debt and financing lease obligations (7,934) (937) Long-term debt and financing lease obligations $ 673,472 $ 636,079 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 October 31, 2023 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) 2021-A Class C $ 63,890 $ 63,450 $ 33,448 11/23/2021 5/15/2026 4.59% 5.25% 2022-A Class B 132,090 129,050 86,706 7/21/2022 12/15/2026 9.52% 10.86% 2022-A Class C 63,090 43,737 63,090 11/30/2022 12/15/2026 —% 20.74% 2023-A Class A 160,690 159,603 109,617 8/17/2023 01/17/2028 8.01% 14.50% 2023-A Class B 82,430 79,958 82,430 8/17/2023 01/17/2028 10.00% 11.00% 2023-A Class C 30,550 26,665 30,550 8/17/2023 01/17/2028 11.00% 11.14% Total $ 532,740 $ 502,463 $ 405,841 (1) After giving effect to debt issuance costs. (2) Effective interest rate is inclusive of the impact of changes in timing of actual and expected cash flows, calculated on an annualized basis. On August 7, 2023, Conn’s, Inc., Conn’s Receivables Funding 2023-A, LLC, a newly formed special purpose entity that is indirectly owned by the Company (the “Issuer”), Conn Appliances Receivables Funding, LLC, an indirect wholly owned subsidiary of the Company (the “Depositor”), and Conn Appliances, Inc., a direct and wholly owned subsidiary of the Company (“Conn Appliances”), entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., MUFG Securities Americas Inc., Citizens JMP Securities, LLC and Regions Securities LLC (collectively, the “Initial Purchasers”), for the sale of the Issuer’s 8.01% $160.7 million Asset Backed Fixed Rate Notes, Class A, Series 2023-A (the “Class A Notes”), 10.00% $82.4 million Asset Backed Fixed Rate Notes, Class B, Series 2023-A (the “Class B Notes”) and 11.00% $30.6 million Asset Backed Fixed Rate Notes, Class C, Series 2023-A (the “Class C Notes” and, together with the Class A Notes and the Class B Notes, the “Purchased Notes”). The Issuer also issued the Asset Backed Notes, Class R, Series 2023-A (the “Class R Notes” and, collectively with the Purchased Notes, the “Series 2023-A Notes”). The Class R Notes do not have a principal amount or interest rate and were transferred to the Depositor on August 17, 2023 to satisfy the risk retention obligations of Conn Appliances. The Series 2023-A Notes were issued on August 17, 2023 (the “Closing Date”). The Series 2023-A Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any jurisdiction. The Purchased Series Notes were sold initially to the Initial Purchasers and then reoffered and resold only (i) to “Qualified Institutional Buyers” as defined in Rule 144A under the Securities Act (“Rule 144A”) in transactions meeting the requirements of Rule 144A or (2) solely with respect to the Class A Notes, outside the United States to non-U.S. Persons in transactions in compliance with Regulation S under the Securities Act. Revolving Credit Facility. On March 29, 2021, Conn’s, Inc. and certain of its subsidiaries (the “Borrowers”) entered into the Fifth Amended and Restated Loan and Security Agreement (the “Fifth Amended and Restated Loan Agreement”), with certain lenders, which provides for a $650.0 million asset-based revolving credit facility (as amended, the “Revolving Credit Facility”) under which credit availability is subject to a borrowing base and a maturity date of March 29, 2025. The Fifth Amended and Restated Loan Agreement, among other things, permits borrowings under the Letter of Credit Subline (as defined in the Fifth Amended and Restated Loan Agreement) that exceed the cap of $40 million to $100 million, solely at the discretion of the lenders for such amounts in excess of $40 million . The obligations under the Revolving Credit Facility are secured by substantially all assets of the Company, excluding the assets of the VIEs. As of October 31, 2023, under our Revolving Credit Facility, we had immediately available borrowing capacity of $144.2 million, net of standby letters of credit issued of $25.2 million, and an additional $295.6 million that may become available if the balance of eligible customer receivables and total eligible inventory balances increases. On November 21, 2022, w e entered into Amendment No. 1 (the "Amendment") to the Fifth Amended and Restated Loan Agreement. Under the Amendment, loans under the Revolving Credit Facility bear interest, at our option, at a rate of Secured Overnight Financing Rate ("SOFR") plus a 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 is a rate per annum equal to the greatest of the prime rate, the federal funds effective rate plus 0.5%, or SOFR for a 30-day interest period plus 1.0%. We also pay an unused fee on the portion of the commitment 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 Amendment also waived testing of the interest coverage covenants beginning with the third quarter of fiscal year 2023 and continuing until the date on which the Company delivers financial statements and a compliance certificate for the fiscal quarter ending April 30, 2024 (unless earlier terminated pursuant to the terms of the Amendment). After giving effect to the foregoing amendment, as of October 31, 2023, we were in compliance with the covenants in our Revolving Credit Facility. On February 21, 2023, the Company, the Borrowers, the guarantors party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the required lenders party thereto entered into the second amendment (the “Second Amendment”) to the Fifth Amended and Restated Loan Agreement. The Second Amendment, among other things, permits the Company and the Borrowers to enter into the Term Loan (as defined below) and made certain changes conforming to the Term Loan. The weighted-average interest rate on borrowings outstanding and including unused line fees under the Revolving Credit Facility was 8.6% for the nine months ended October 31, 2023. 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, borrow from immediately available borrowing capacity above certain limits and without maintaining minimum liquidity, 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 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. Term Loan and Security Agreement . On February 21, 2023, Conn’s, Inc., as parent and guarantor, Conn Appliances, Inc., Conn Credit I, LP and Conn Credit Corporation, Inc., as borrowers (the “Borrowers”), entered into a second-lien term loan and security agreement (the “Term Loan,” and together with the Fifth Amended and Restated Loan Agreement, the “Senior Loan Agreements”) with Pathlight Capital LP, as administrative agent and collateral agent, and the financial institutions party thereto, as lenders (the “Lenders”). The Term Loan provides for an aggregate commitment of $100.0 million to the Borrowers pursuant to a three-year secured term loan credit facility, which was fully drawn on February 21, 2023. Outstanding loans under the Term Loan will bear interest at an aggregate rate per annum equal to the Term SOFR Rate (as defined in the Term Loan), subject to a 4.80% floor, plus a margin of 7.50%. The obligations of the Borrowers under the Term Loan are guaranteed by the Company and certain of the Borrowers’ subsidiaries. The Borrowers are required to make quarterly scheduled amortization payments of the Term Loan prior to the maturity thereof in an amount equal to $1.25 million. The Term Loan is secured by liens (subject, in the case of priority, to the liens under the Fifth Amendment and Restated Loan Agreement) on substantially all of the assets of the Borrowers and their subsidiaries, subject to customary exceptions. The Borrowers may elect to prepay all or any portion of the amounts owed under the Term Loan, subject to a prepayment fee. The Borrowers are required to make mandatory prepayments of amounts owed under the Term Loan in an amount equal to (a) 100% of the proceeds received as a result of any of the following events, subject to certain adjustments: (i) the issuance of any equity securities by the Company pursuant to the exercise of an equity cure under the Term Loan that the Company contributes as additional common equity contributions to any Borrower; and (ii) the receipt by the Company, the Borrowers or any of their affiliates of any portion of the CARES Act Tax Refund Proceeds (as defined in the Term Loan), subject to a cap and (b) the amount by which the outstanding loans under the Term Loan are in excess of the sum of the (i) revolving borrowing base and (ii) term loan push-down reserve (if any) then maintained against the revolving borrowing base. Voluntary and mandatory prepayments will be applied to the remaining scheduled installments of principal due in respect of the Term Loan in the inverse order of maturity. The Term Loan contains customary covenants regarding the Borrowers and their subsidiaries that are generally based upon and are comparable to those contained in the Fifth Amended and Restated Loan Agreement including, without limitation: financial covenants, such as the maintenance of a minimum interest coverage ratio, subject to a covenant relief period through the fiscal quarter ending April 30, 2024, and a maximum leverage ratio; and negative covenants, such as limitations on indebtedness, liens, mergers, asset transfers, certain investing activities and other matters customarily restricted in such agreements. Most of these restrictions are subject to certain minimum thresholds and exceptions. The Term Loan also contains customary events of default, including, without limitation, payment defaults, material inaccuracy of representations and warranties, covenant defaults, bankruptcy and insolvency proceedings, cross-defaults to certain other agreements, and change of control. Delayed Draw Term Loan and Security Agreement . On July 31, 2023, Conn’s, Inc., as parent and guarantor, Conn Appliances, Inc., Conn Credit I, LP and Conn Credit Corporation, Inc., as borrowers (the “Borrowers”), entered into a delayed draw term loan and security agreement (the “Delayed Draw Term Loan”) with Stephens Investments Holdings LLC (“Stephens Investments”) and Stephens Group, LLC and the other lenders party thereto from time to time (the “Lenders”), and Stephens Investments, as administrative agent. The Delayed Draw Term Loan provides for an aggregate commitment of $50.0 million, of which the total commitment is available to be funded in one or a series of borrowings until February 20, 2026, with the Delayed Draw Term Loan to mature on May 22, 2026. Outstanding loans under the Delayed Draw Term Loan will bear interest at an aggregate rate per annum equal to the Term SOFR Rate (as defined in the Delayed Draw Term Loan), subject to a 5.00% floor, plus a margin of 10.00%, which shall be payable monthly in arrears in cash except to the extent such payment in cash would result in a default or event of default under any of the Senior Loan Agreements, in which case such portion may be paid-in-kind and added to the outstanding principal amount of the term loans. Amounts under the Delayed Draw Term Loan that remain undrawn are subject to a commitment fee payable monthly based on the undrawn portion of the Delayed Draw Term Loan at a rate of 5.00% per annum. Furthermore, in connection with the funding of each delayed draw term loan under the Delayed Draw Term Loan and on the terms and subject to the conditions of the Delayed Draw Term Loan, including the Share Cap (which equals 19.99% of the shares of common stock in the Company issued and outstanding as of the date of the Delayed Draw Term Loan), the Company will issue to or as directed by the Lenders warrants to purchase a number of shares of common stock of the Company equal to 20% of the aggregate principal amount of such delayed draw term loan funded by a such Lender divided by the exercise price (as defined by the loan agreement). The obligations of the Borrowers under the Delayed Draw Term Loan are guaranteed by the Company and certain of the Borrowers’ subsidiaries. The Borrowers are not required to make any amortization or other payments (whether voluntary or mandatory) of principal under the Delayed Draw Term Loan until the maturity date. The Delayed Draw Term Loan is secured by liens (subject, in the case of priority, to the liens under the Fifth Amendment and Restated Loan) on substantially all of the assets of the Borrowers and their subsidiaries, subject to customary exceptions. Proceeds from borrowings made under the Delayed Draw Term Loan may be used by the Borrowers for working capital and other lawful corporate purposes. The Borrowers may elect to prepay all or any portion of the amounts owed under the Delayed Draw Term Loan, without a premium or penalty, subject to certain conditions, including pro forma compliance with a fixed charge coverage ratio test and reduction of the outstanding principal amount under the Second-Lien Loan Agreement to an amount equal to $40.0 million. The Delayed Draw Term Loan contains customary covenants regarding the Borrowers and their subsidiaries that are generally based upon and are comparable to those contained in the Senior Loan Agreements including, without limitation: financial covenants, such as a maximum leverage ratio; and negative covenants, such as limitations on indebtedness, liens, mergers, asset transfers, certain investing activities and other matters customarily restricted in such agreements. Most of these restrictions are subject to certain minimum thresholds and exceptions and, where applicable, cushions to the Senior Loan Agreements. The Delayed Draw Term Loan also contains customary events of default, including, without limitation, payment defaults, material inaccuracy of representations and warranties, covenant defaults, bankruptcy and insolvency proceedings, cross-acceleration to the Senior Loan Agreements, cross-defaults to the warrants and certain other agreements (other than the Senior Loan Agreements as defined in the indenture), and change of control. Stephens Inc, and its affiliates, and The Stephens Group LLC, and its affiliates, are significant stockholders of the Company. Bob L. Martin, a member of the Company’s Board of Directors and Lead Independent Director, is an Operating Partner of The Stephens Group LLC, one of the Lenders under the Delayed Draw Term Loan; and Douglas H. Martin, a member of the Company’s Board of Directors, is a Senior Executive Vice President of Stephens Inc., an affiliate of Stephens Investments Holdings LLC, one of the Lenders under the Delayed Draw Term Loan. Supplier Credit Facility. On June 22, 2023, Conn's, Inc. entered into a Supplier Credit Facility agreement with Zenith Group Holdings, LLC. The Supplier Credit Facility agreement provides a credit line up to $7.0 million with a potential for additional capacity up to $25.0 million at the discretion of Zenith Group. Amounts outstanding under the Supplier Credit Facility are subject to SOFR plus spread per annum (as defined in the agreement), charged in 30 day increments, which will be charged only on utilized capital (no unused fees). The amount outstanding under our Supplier Credit Facility is included in Short term debt and current finance lease obligations within the Balance Sheet. Debt Covenants. A summary of the significant financial covenants that govern our Revolving Credit Facility compared to our actual compliance status at October 31, 2023 is presented below: Actual Required Minimum/ Maximum Interest Coverage Ratio for the quarter must equal or exceed minimum Test Waived 1.00:1.00 Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum Test Waived 1.50:1.00 Leverage Ratio must not exceed maximum 2.47:1.00 4.50:1.00 ABS Excluded Leverage Ratio must not exceed maximum 1.53:1.00 2.50:1.00 Capital Expenditures, net, must not exceed maximum $41.7 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	9 Months Ended
	Oct. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies We are involved in 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	9 Months Ended
	Oct. 31, 2023
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 t o 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 the 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) October 31, January 31, Assets: Restricted cash $ 39,321 $ 38,727 Due from Conn’s, Inc., net 2,207 — Customer accounts receivable: Customer accounts receivable 486,617 506,811 Restructured accounts 69,580 46,626 Allowance for uncollectible accounts (96,833) (105,982) Allowance for no-interest option credit programs (9,274) (9,340) Deferred fees and origination costs (4,702) (4,851) Total customer accounts receivable, net 445,388 433,264 Total assets $ 486,916 $ 471,991 Liabilities: Accrued expenses $ 3,654 $ 3,475 Other liabilities 4,382 4,578 Due to Conn’s, Inc., net — 2,249 Long-term debt: 2021-A Class B Notes — 54,597 2021-A Class C Notes 33,448 63,890 2022-A Class A Notes — 117,935 2022-A Class B Notes 86,706 132,090 2022-A Class C Notes 63,090 63,090 2023-A Class A Notes 109,617 — 2023-A Class B Notes 82,430 — 2023-A Class C Notes 30,550 — 405,841 431,602 Less: deferred debt issuance costs (16,213) (20,812) Total debt 389,628 410,790 Total liabilities $ 397,664 $ 421,092

Segment Information

Segment Information	9 Months Ended
	Oct. 31, 2023
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 October 31, 2023, we operated retail stores in 15 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 October 31, 2023 (in thousands) Retail Credit Eliminations Total Revenues: Furniture and mattress $ 74,406 $ — $ (826) $ 73,580 Home appliance 79,622 — (743) 78,879 Consumer electronics 25,146 — (534) 24,612 Home office 9,539 — (303) 9,236 Other 13,918 — 1 13,919 Product sales 202,631 — (2,405) 200,226 Repair service agreement commissions 15,938 — — 15,938 Service revenues 2,288 — — 2,288 Total net sales 220,857 — (2,405) 218,452 Finance charges and other revenues 497 61,528 (347) 61,678 Total revenues 221,354 61,528 (2,752) 280,130 Costs and expenses: Cost of goods sold 146,772 1,854 (2,264) 146,362 Selling, general and administrative expense (1) 97,212 34,070 (250) 131,032 Provision for bad debts 122 39,001 — 39,123 Charges and credits 2,071 — — 2,071 Total costs and expenses 246,177 74,925 (2,514) 318,588 Operating loss (24,823) (13,397) (238) (38,458) Interest expense (91) 22,539 — 22,448 Loss before income taxes $ (24,732) $ (35,936) $ (238) $ (60,906) Three Months Ended October 31, 2022 (in thousands) Retail Credit Eliminations Total Revenues: Furniture and mattress $ 79,927 $ — $ — $ 79,927 Home appliance 102,884 — — 102,884 Consumer electronics 31,911 — — 31,911 Home office 8,630 — — 8,630 Other 9,824 — — 9,824 Product sales 233,176 — — 233,176 Repair service agreement commissions 18,804 — — 18,804 Service revenues 2,378 — — 2,378 Total net sales 254,358 — — 254,358 Finance charges and other revenues 270 66,572 66,842 Total revenues 254,628 66,572 — 321,200 Costs and expenses: Cost of goods sold 169,842 — — 169,842 Selling, general and administrative expense (1) 94,240 32,003 — 126,243 Provision for bad debts 261 34,843 — 35,104 Charges and credits 8,006 — — 8,006 Total costs and expenses 272,349 66,846 — 339,195 Operating loss (17,721) (274) — (17,995) Interest expense — 11,478 — 11,478 Loss before income taxes $ (17,721) $ (11,752) $ — $ (29,473) Nine Months Ended October 31, 2023 (in thousands) Retail Credit Eliminations Total Revenues: Furniture and mattress $ 232,041 $ — $ (1,692) $ 230,349 Home appliance 252,472 — (1,790) 250,682 Consumer electronics 77,736 — (1,291) 76,445 Home office 26,147 — (707) 25,440 Other 43,466 — (58) 43,408 Product sales 631,862 — (5,538) 626,324 Repair service agreement commissions 51,600 — — 51,600 Service revenues 6,720 — — 6,720 Total net sales 690,182 — (5,538) 684,644 Finance charges and other revenues 1,512 186,406 (956) 186,962 Total revenues 691,694 186,406 (6,494) 871,606 Costs and expenses: Cost of goods sold 450,576 2,548 (4,844) 448,280 Selling, general and administrative expense (1) 294,457 101,537 (750) 395,244 Provision for bad debts 321 101,013 — 101,334 Charges and credits 1,264 — — 1,264 Total costs and expenses 746,618 205,098 (5,594) 946,122 Operating loss (54,924) (18,692) (900) (74,516) Interest expense 16 55,598 — 55,614 Loss before income taxes $ (54,940) $ (74,290) $ (900) $ (130,130) Nine Months Ended October 31, 2022 (in thousands) Retail Credit Eliminations Total Revenues: Furniture and mattress $ 254,341 $ — $ — $ 254,341 Home appliance 333,359 — — 333,359 Consumer electronics 97,375 — — 97,375 Home office 27,676 — — 27,676 Other 25,847 — — 25,847 Product sales 738,598 — — 738,598 Repair service agreement commissions 60,256 — — 60,256 Service revenues 7,279 — — 7,279 Total net sales 806,133 — — 806,133 Finance charges and other revenues 815 200,704 — 201,519 Total revenues 806,948 200,704 — 1,007,652 Costs and expenses: Cost of goods sold 530,942 — — 530,942 Selling, general and administrative expense (1) 288,306 100,863 — 389,169 Provision for bad debts 848 76,211 — 77,059 Charges and credits 6,522 — — 6,522 Total costs and expenses 826,618 177,074 — 1,003,692 Operating (loss) income (19,670) 23,630 — 3,960 Interest expense — 23,807 — 23,807 Loss before income taxes $ (19,670) $ (177) $ — $ (19,847) October 31, 2023 October 31, 2022 (in thousands) Retail Credit Total Retail Credit Total Total assets $ 637,368 $ 1,089,024 $ 1,726,392 $ 594,302 $ 1,142,830 $ 1,737,132 (1) For the three months ended October 31, 2023 and 2022, the amount of corporate overhead allocated to each segment reflected in SG&A expense was $8.2 million and $7.4 million, respectively. For the three months ended October 31, 2023 and 2022, the amount of reimbursement made to the retail segment by the credit segment was $6.1 million and $6.5 million, respectively. For the nine months ended October 31, 2023 and 2022, the amount of corporate overhead allocated to each segment reflected in SG&A was $25.8 million and $23.6 million, respectively. For the nine months ended October 31, 2023 and 2022, the amount of reimbursement made to the retail segment by the credit segment was $18.5 million and $19.9 million, respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Investment Agreement On December 18 2023, Conn’s, Inc. (the “Company”) entered into an investment agreement (the “Investment Agreement”), among the Company, Franchise Group Newco BHF, LLC (“Newco BHF”), W.S. Badcock LLC (“Badcock”), Freedom VCM Interco Holdings, Inc. (“FVCM”) and Franchise Group, Inc. (“FGI”). Pursuant to the Investment Agreement, Newco BHF contributed to the Company all of the issued and outstanding equity interests of Badcock and FVCM agreed to contribute residual interests in certain receivables currently held by B. Riley Receivables II, LLC (“BRR2”) to Badcock upon the satisfaction of certain indebtedness of BRR2 in the future. In exchange for the contributions, the Company issued 1,000,000 shares of Preferred Stock (as defined below) to Newco BHF and FVCM. The Preferred Stock, subject to the terms set forth in the Certificate of Designation and approval by the stockholders of the Company, is convertible into an aggregate of approximately 24,500,000 shares of Non-Voting Common Stock, which represents 49.99% of the issued and outstanding shares of common stock, par value $0.01 of the Company (“Common Stock”), outstanding immediately following the closing after giving effect to the issuance of the Preferred Stock and assuming the conversion of the Preferred Stock into Non-Voting Common Stock. The closing of the contributions and the issuance of the Preferred Stock occurred simultaneously with the signing of the Investment Agreement. Pursuant to the Investment Agreement, the Company has agreed to hold a stockholder’s meeting (the “Special Meeting”) to submit the following matters to its stockholders for their consideration: (a) the approval of an amendment to the Company’s certificate of incorporation (the “Charter Amendment”) to create a new class of non-voting common stock of the Company, par value $0.01 per share (“Non-Voting Common Stock”); and (b) the conversion of the Preferred Stock issued to Newco BHF and to FVCM pursuant to the Investment Agreement into shares of new authorized and issued Non-Voting Common Stock (the “Conversion Amendment”). The Investment Agreement contains customary representations, warranties and covenants of the Company, Newco BHF, Badcock, FVCM and FGI. Amendment to Revolving Credit Facility On December 18, 2023, the Company entered into an Amendment No. 3 (the “Revolving Credit Agreement Amendment”) to the Fifth Amended and Restated Loan and Security Agreement, dated as of March 29, 2021 (the “Revolving Credit Agreement”), by and among the Company, as parent and guarantor, Conn Appliances, Inc., Conn Credit I, LP and Conn Credit Corporation, Inc., as existing borrowers (the “Existing Borrowers”), and substantially concurrently with the closing of the Revolving Credit Agreement Amendment, Badcock, pursuant to a joinder, as new borrower (“New Borrower”, and together with the Existing Borrowers, collectively, “Borrowers”), certain banks and financial institutions named therein, as lenders, and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders. The Revolving Credit Agreement Amendment, among other things: (a) consents to the consummation of the transactions contemplated by the Investment Agreement; (b) extends the maturity date of the Revolving Credit Agreement to December 31, 2026; (c) provides for certain adjustments to the representations, warranties and covenants to incorporate the New Borrower into the Revolving Credit Agreement; (d) increases the existing interest rate margins by 0.50%, resulting in possible interest rate margins between (i) 3.00% and 3.75% for SOFR Rate Loans and (ii) 2.00% and 2.75% for Base Rate Loans, in each case based on the total net leverage ratio; (e) extends the termination date of the covenant relief period, which removes testing of the interest coverage covenant, to April 30, 2025; (f) provides for certain amendments to the borrowing base, including (i) modifying the inventory advance rate by removing the cap of 33.3% of revolving commitments and (ii) modifying the contract advance rate to equal the lesser of (x) 80% of net eligible contract payments and (y) 80% of the net fair market value of the owned contract portfolio; (g) provides for increased reporting requirements; (h) amends the minimum excess availability covenant to require, at all times during the term of the Revolving Credit Agreement, availability under the revolver of no less than the greater of (i) 17.5% of the borrowing base and (ii) $100,000,000; (i) replaces the minimum liquidity covenant with a springing, minimum fixed charge coverage ratio of 1.00:1.00, which shall only be tested to the extent availability under the Revolving Credit Agreement is less than 20% of the borrowing base, and testing of such covenant shall continue until the occurrence of the first fiscal-quarter end where availability as of such date has been in excess of 20% of the borrowing base for 30 consecutive days; (j) added a minimum EBITDA financial covenant; and (k) increased the cap on revolver borrowings at any one time outstanding to $400,000,000, with step downs beginning September 1, 2025 thereafter to $300,000,000. Term Loan and Security Agreement On December 18, 2023, the Company, as parent and guarantor, and the Borrowers, entered into a second-lien term loan and security agreement (the “Term Loan”) with BRF Finance Co., LLC, as administrative agent and collateral agent, and the financial institutions party thereto, as lenders. The Term Loan provides for an aggregate commitment of $108.0 million to the Borrowers pursuant to a secured term loan credit facility maturing on February 20, 2027, which was fully drawn on December [18], 2023. Outstanding loans under the Term Loan will bear interest at an aggregate rate per annum equal to the Term SOFR Rate (as defined in the Term Loan), subject to a 4.80% floor, plus a margin of 8.00%. The obligations of the Borrowers under the Term Loan are guaranteed by the Company and certain of the Borrowers’ subsidiaries. The Borrowers are required to make quarterly scheduled amortization payments of the Term Loan prior to the maturity thereof in an amount equal to $1.35 million. The Term Loan is secured by liens (subject, in the case of priority, to the liens under the Revolving Credit Agreement) on substantially all of the assets of the Borrowers and their subsidiaries, subject to customary exceptions. Proceeds from borrowings made under the Term Loan may be used by the Borrowers for, among other things: (i) payment of fees and expenses associated with the closing of the Term Loan; (ii) repayment in full of the Company’s existing second-lien term loan facility with Pathlight Capital LP and all fees and expenses associated therewith; and (iii) working capital and other lawful corporate purposes of the Borrowers and their subsidiaries in accordance with the Term Loan. The Borrowers may elect to prepay all or any portion of the amounts owed under the Term Loan, without a premium or penalty. The Borrowers are required to make mandatory prepayments of amounts owed under the Term Loan in an amount equal to 100% of the proceeds received as a result of any of the following events, subject to certain adjustments: (i) the issuance of any equity securities by the Company that the Company contributes as additional common equity contributions to any Borrower; and (ii) the receipt by the Company, the Borrowers or any of their affiliates of any portion of the CARES Act Tax Refund Proceeds (as defined in the Term Loan), subject to a cap. Voluntary and mandatory prepayments will be applied to the remaining scheduled installments of principal due in respect of the Term Loan in the inverse order of maturity. The Term Loan contains customary covenants regarding the Borrowers and their subsidiaries that are generally based upon and are comparable to those contained in the Revolving Credit Agreement including, without limitation: financial covenants, such as the maintenance of a minimum interest coverage ratio, subject to a covenant relief period through the fiscal quarter ending April 30, 2025, a maximum leverage ratio, a minimum excess availability covenant and a springing, minimum fixed charge coverage ratio; and negative covenants, such as limitations on indebtedness, liens, mergers, asset transfers, certain investing activities and other matters customarily restricted in such agreements. Most of these restrictions are subject to certain minimum thresholds and exceptions. The Term Loan also contains customary events of default, including, without limitation, payment defaults, material inaccuracy of representations and warranties, covenant defaults, bankruptcy and insolvency proceedings, cross-defaults to certain other agreements, and change of control. Amendment to Delayed Draw Term Loan Facility On December 18, 2023, the Company, entered into an Amendment No. 1 (the “DDTL Amendment”) to Delayed Draw Term Loan and Security Agreement, dated as of July 31, 2023 (the “Term Loan Agreement”), by and among the Company, as parent and guarantor, the Existing Borrowers and substantially concurrently with the closing of the DDTL Amendment, Badcock, pursuant to a joinder, as new borrower, Stephens Investments Holdings LLC (“Stephens Investments”) and Stephens Group, LLC and the other lenders party thereto from time to time, and Stephens Investments, as administrative agent. The DDTL Amendment, among other things: (a) consents to the consummation of the transactions contemplated by the Investment Agreement; (b) extends the maturity date of the Term Loan Agreement to May 22, 2027; (c) provides for certain adjustments to the representations, warranties and covenants to incorporate the New Borrower into the Term Loan Agreement; (d) added a minimum EBITDA financial covenant; and (e) provides for the ability of Borrowers to prepay all or any portion of the amounts owed under the Term Loan Agreement, without a premium or penalty, subject to certain conditions, including demonstrating a trailing twelve-month EBITDA (on a pro forma basis) of the Company and its subsidiaries of no less than $185,000,000 and a trailing six-month liquidity (on a pro forma basis) of the Company and its subsidiaries of no less than $100,000,000. In addition, the DDT Amendment (i) obligates the Company to solicit stockholder approval to issue the maximum amount of Non-Voting Common Stock upon exercise of the maximum number of warrants thereunder, (ii) if stockholder approval is received, obligates the Company to issue warrants under the Term Loan Agreement exercisable for Non-Voting Common Stock and (iii) if stockholder approval is received, clarifies that the provision of the Term Loan Agreement limiting the number of shares underlying warrants issued thereunder to no more than 19.99% of the outstanding shares of Common Stock issued and outstanding as of the date of the Term Loan Agreement does not apply to limit the number of shares of Non-Voting Common Stock issuable upon exercise of warrants.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 31, 2023
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 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, 2023 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, 2023 (the “2023 Form 10-K”) filed with the United States Securities and Exchange Commission (the “SEC”) on March 29, 2023. Reclassification of prior year presentation.
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.
Variable Interest Entity	Variable Interest Entities (VIE). 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 October 31, 2023 and January 31, 2023, cash and cash equivalents included cash and credit card deposits in transit. Credit card deposits in transit included in cash and cash equivalents were $2.8 million and $5.2 million as of October 31, 2023 and January 31, 2023, respectively. Restricted Cash. The restricted cash balance as of October 31, 2023 and January 31, 2023 includ es $32.3 million and $33.6 million, respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $7.0 million and $5.2 million
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. 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. Allowance for Doubtful Accounts. The determination of the amount of the allowance for credit losses is, by nature, highly complex and subjective. Future events that are inherently uncertain could result in material changes to the level of the allowance for credit losses. General economic conditions, changes to state or federal regulations and a variety of other factors that affect the ability of borrowers to service their debts or our ability to collect will impact the future performance of the portfolio. We establish an allowance for credit losses, including estimated uncollectible interest, to cover expected credit losses on our customer accounts receivable resulting from the failure of customers to make contractual payments. Our customer accounts receivable portfolio balance consists of a large number of relatively small, homogeneous accounts. None of our accounts are large enough to warrant individual evaluation for impairment. The allowance for credit losses is measured on a collective (pool) basis where similar risk characteristics exist. The allowance for credit losses is determined for each pool and added to the pool’s carrying amount to establish a new amortized cost basis. We 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 uses 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 revisit our measurement methodology assumptions annually, or more frequently if circumstances warrant. As of October 31, 2023 and January 31, 2023, the balance of allowance for doubtful accounts and uncollectible interest for non-restructured customer receivables was $135.0 million and $150.6 million, respectively. As of October 31, 2023 and January 31, 2023, the amount included in the allowance for doubtful accounts associated with principal and interest on restructured accounts was $35.4 million and $33.6 million, respectively.
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 October 31, 2023 and January 31, 2023, there was $7.8 million and $8.1 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 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 October 31, 2023 and January 31, 2023, the carrying value of customer accounts receivable in non-accrual status was $8.7 million and $7.9 million, respectively. At October 31, 2023 and January 31, 2023, the carrying value of customer accounts receivable that were past due 90 days or more and still accruing interest totaled $81.0 million and $92.2 million, respectively. At October 31, 2023 and January 31, 2023, the carrying value of customer accounts receivable in a bankruptcy status that were less than 60 days past due was $8.1 million and $7.1 million, respectively, and are included within the customer receivables balance carried in non-accrual status.
Debt Issuance Costs and Loss on Extinguishment of Debt	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 short and 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 $3.6 million and $5.4 million as of October 31, 2023 and January 31, 2023, respectively.
Income Taxes	Income Taxes. For the nine months ended October 31, 2023 and 2022, we utilized the estimated annual effective tax rate based on our estimated fiscal year 2024 and 2023 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 nine months ended October 31, 2023 and 2022, the effective tax rate was 7.6% and 16.9%, respectively. The primary factor affecting the decrease in our effective tax rate for the nine months ended October 31, 2023 was the impact of a valuation allowance, partially offset by the recognition of an uncertain tax benefit.
Share-based Compensation	Stock-based Compensation. During the nine months ended October 31, 2023, the Company granted performance stock awards (“PSUs”) and restricted stock awards (“RSUs”). The awards had a combined aggregate grant date fair value of $11.8 million. The PSUs will vest in fiscal year 2027, if at all, upon certification by the Compensation Committee of the Board of Directors of satisfaction of certain total stockholder return performance conditions over the three fiscal years commencing with fiscal year 2024. The RSUs will vest ratably, over periods of three years from the date of grant.
Earnings per Share	Earnings per Share. Basic earnings per share for a particular period is calculated by dividing net income 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 (in thousands): Three Months Ended Nine Months Ended October 31, 2023 2022 2023 2022 Weighted-average common shares outstanding - Basic 24,262 23,911 24,196 24,173 Dilutive effect of stock options, PSUs and RSUs — — — — Weighted-average common shares outstanding - Diluted 24,262 23,911 24,196 24,173
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 and Term Loan approximates carrying value based on the current borrowing rate for similar types of borrowing arrangements. At October 31, 2023, the fair value of the asset backed notes was $396.5 million as compared to the carrying value o f $405.8 million a nd was determined using Level 2 inputs based on inactive trading activity.
Deferred Revenue	Deferred Revenue.
Recent Accounting Pronouncements Adopted and Recent Accounting Pronouncements Yet To Be Adopted	Recent Accounting Pronouncements Adopted. Financial Instruments - Troubled Debt Restructurings and Vintage Disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Oct. 31, 2023
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 and nine months ended October 31, 2023 and 2022: Three Months Ended Nine Months Ended 2023 2022 2023 2022 RSUs (1) 186 155 1,369 631 PSUs (2) — — 174 177 Total stock awards granted 186 155 1,543 808 Aggregate grant date fair value (in thousands) $ 809 $ 1,162 $ 11,794 $ 16,924 (1) The RSUs issued during the three and nine months ended October 31, 2023 and 2022 are scheduled to vest ratably over periods of three years to four years from the date of grant with the exception of RSU grants issued to the Board of Directors. (2) The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the nine months ended October 31, 2023 included expected volatility of 73.0%, an expected term of 3 years and risk-free interest rate of 3.75%. No dividend yield was included in the weighted-average assumptions for the PSUs granted during the nine months ended October 31, 2023. The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the nine months ended October 31, 2022 included expected volatility of 78.0%-80.0%, an expected term of 3 years and risk-free interest rate of 1.39%-2.58%. No dividend yield was included in the weighted average assumptions for the PSUs granted during the nine months ended October 31, 2022.
Shares outstanding for the earnings per share calculations	The following table sets forth the shares outstanding for the earnings per share calculations (in thousands): Three Months Ended Nine Months Ended October 31, 2023 2022 2023 2022 Weighted-average common shares outstanding - Basic 24,262 23,911 24,196 24,173 Dilutive effect of stock options, PSUs and RSUs — — — — Weighted-average common shares outstanding - Diluted 24,262 23,911 24,196 24,173

Customer Accounts Receivable (T

Customer Accounts Receivable (Tables)	9 Months Ended
	Oct. 31, 2023
Receivables [Abstract]
Allowance for doubtful accounts and uncollectible interest for customer receivables	Customer accounts receivable consisted of the following: (in thousands) October 31, January 31, Customer accounts receivable (1)(2) $ 979,149 $ 1,025,364 Deferred fees and origination costs, net (11,154) (11,699) Allowance for no-interest option credit programs (18,094) (18,753) Allowance for uncollectible interest and fees (16,991) (20,007) Carrying value of customer accounts receivable 932,910 974,905 Allowance for credit losses (3) (153,340) (164,168) Other net customer receivables 462 — Carrying value of customer accounts receivable, net of allowance for credit losses 780,032 810,737 Short-term portion of customer accounts receivable, net (424,940) (421,683) Long-term customer accounts receivable, net $ 355,092 $ 389,054 (1) As of October 31, 2023 and January 31, 2023, the customer accounts receivable balance included $25.5 million a nd $27.5 million, respectively, in interest receivable. Interest receivable outstanding, net of the allowance for uncollectible interest, as of October 31, 2023 and January 31, 2023 wa s $8.5 million and $7.5 million respectively. (2) As of October 31, 2023 and January 31, 2023, the carrying value of customer accounts receivable past due one day or greater was $266.9 million and $290.4 million, respectively. Further, the carrying value of customer accounts receivable which received a re-age at least once during the lifetime of the loan wa s $168.5 million and $160.9 million as of October 31, 2023 and January 31, 2023, respectively. (3) As of October 31, 2023 and January 31, 2023, the allowance for credit losses is presented net of recovery receivables of $48.0 million and $47.4 million, respectively.
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) October 31, 2023 January 31, 2023 Customer accounts receivable - current $ 511,212 $ 517,611 Allowance for credit losses for customer accounts receivable - current (86,272) (95,928) Customer accounts receivable, net of allowances 424,940 421,683 Customer accounts receivable - non current 439,152 477,301 Allowance for credit losses for customer accounts receivable - non current (84,060) (88,247) Long-term portion of customer accounts receivable, net of allowances 355,092 389,054 Total customer accounts receivable, net $ 780,032 $ 810,737
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: Nine Months Ended October 31, 2023 Nine Months Ended October 31, 2022 (in thousands) Customer Customer Total Allowance at beginning of period 1/31/23 $ 150,579 $ 33,595 $ 184,174 $ 165,044 $ 43,976 $ 209,020 ASU 2022-02 Adjustment — (372) (372) — — — Adjusted allowance at beginning of period 150,579 33,223 183,802 165,044 43,976 209,020 Provision for credit loss expense (1) 100,256 30,530 130,786 89,078 25,771 114,849 Principal charge-offs (2) (111,303) (27,262) (138,565) (100,214) (34,222) (134,436) Interest charge-offs (26,757) (6,554) (33,311) (24,016) (8,201) (32,217) Recoveries (2) 22,185 5,434 27,619 22,708 7,754 30,462 Allowance at end of period $ 134,960 $ 35,371 $ 170,331 $ 152,600 $ 35,078 $ 187,678 Average total customer portfolio balance $ 906,280 $ 84,098 $ 990,378 $ 972,943 $ 89,042 $ 1,061,985 (1) Includes provision for uncollectible interest, which is included in finance charges and other revenues, and changes in expected future recoveries. (2) Charge-offs include the principal amount of losses (excluding accrued and unpaid interest). Recoveries include the principal amount collected during the period for previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries.
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 calendar year of origination. The information is presented as of October 31, 2023: (in thousands) Delinquency Bucket 2023 2022 2021 2020 Prior Total % of Total Current $ 380,667 $ 204,074 $ 74,007 $ 5,785 $ 1,482 $ 666,015 71.4 % 1-30 50,045 48,007 23,734 3,342 841 125,969 13.5 % 31-60 14,179 14,054 7,689 1,566 499 37,987 4.1 % 61-90 8,109 7,932 4,306 846 335 21,528 2.3 % 91+ 24,573 33,588 18,245 3,643 1,362 81,411 8.7 % Total $ 477,573 $ 307,655 $ 127,981 $ 15,182 $ 4,519 $ 932,910 100.0 % Gross Charge-offs for the nine months ended October 31, 2023 $ 4,318 $ 62,790 $ 51,422 $ 12,911 $ 7,124 $ 138,565
Financing Receivable, Modified [Table Text Block]	The following tables show the amortized cost basis of loans modified during the three and nine months ended October 31, 2023 (since the adoption of ASU 2022-02) to borrowers experiencing financial difficulty disaggregated by modification type: (in thousands) Three Months Ended October 31, 2023 Modification Type Carrying Value % of Carrying Value of Customer Accounts Receivable Significantly re-aged $ 10,513 1.1 % Balance forgiveness 88 — % Refinance 75 — % Combination - significantly re-aged & balance forgiveness 80 — % Total modifications $ 10,756 1.1 % (in thousands) Nine Months Ended October 31, 2023 Modification Type Carrying Value % of Carrying Value of Customer Accounts Receivable Significantly re-aged $ 34,855 3.6 % Balance forgiveness 154 — % Refinance 311 — % Combination - significantly re-aged & balance forgiveness 254 — % Total modifications $ 35,574 3.6 % The Company monitors the performance of modified loans to borrowers experiencing financial difficulty. The following tables depict the delinquency distribution of loans that were modified on or after February 1, 2023, the date we adopted ASU 2022-02: (in thousands) Three Months Ended October 31, 2023 Current 1 - 30 31 - 60 61 - 90 91+ Total Significantly re-aged $ 6,375 $ 2,558 $ 1,026 $ 112 $ 442 $ 10,513 Balance forgiveness 25 9 9 4 41 88 Refinance 54 10 10 — 1 75 Combination - significantly re-aged & balance forgiveness 61 13 1 — 5 80 Total $ 6,515 $ 2,590 $ 1,046 $ 116 $ 489 $ 10,756 (in thousands) Nine Months Ended October 31, 2023 Current 1 - 30 31 - 60 61 - 90 91+ Total Significantly re-aged $ 15,402 $ 8,023 $ 4,063 $ 2,245 $ 5,122 $ 34,855 Balance forgiveness 43 12 8 13 78 154 Refinance 157 66 20 9 59 311 Combination - significantly re-aged & balance forgiveness 109 38 13 5 89 254 Total $ 15,711 $ 8,139 $ 4,104 $ 2,272 $ 5,348 $ 35,574 The following tables describe the financial effect of the modifications made to customers experiencing financial difficulty: Three Months ended October 31, 2023 Significantly re-aged Payment delay duration (in months) 4 to 8 Balance forgiveness Balance forgiven (in thousands) $ 11 Refinance Weighted-average interest rate reduction 8.26 % Term extension duration (in months) 28 Balance forgiven (in thousands) $ 12 Combination - significantly re-aged & balance forgiveness Payment delay duration (in months) 4 to 8 Balance forgiven (in thousands) $ 14 Nine Months Ended October 31, 2023 Significantly re-aged Payment delay duration (in months) 4 to 8 Balance forgiveness Balance forgiven (in thousands) $ 20 Refinance Weighted-average interest rate reduction 6.70 % Term extension duration (in months) 27 Balance forgiven (in thousands) $ 36 Combination - significantly re-aged & balance forgiveness Payment delay duration (in months) 4 to 8 Balance forgiven (in thousands) $ 44

Charges and Credits (Tables)

Charges and Credits (Tables)	9 Months Ended
	Oct. 31, 2023
Charges and Credits [Abstract]
Schedule of Charges and Credits	Charges and credits consisted of the following: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Lease termination $ — $ — $ — $ (1,484) Employee severance — 8,006 — 8,006 Store closure — — 2,340 — Asset sale — — (3,147) — Professional fees 2,071 — 2,071 — Total charges and credits, net $ 2,071 $ 8,006 $ 1,264 $ 6,522

Finance Charges and Other Rev_2

Finance Charges and Other Revenue (Tables)	9 Months Ended
	Oct. 31, 2023
Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]
Finance Charges And Other Revenue [Table Text Block]	Finance charges and other revenues consisted of the following: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Interest income and fees $ 55,290 $ 61,395 $ 169,535 $ 185,869 Insurance income 4,922 5,176 14,729 14,835 Other revenues 1,466 271 2,698 815 Total finance charges and other revenues $ 61,678 $ 66,842 $ 186,962 $ 201,519

Debt and Financing Lease Obli_2

Debt and Financing Lease Obligations (Tables)	9 Months Ended
	Oct. 31, 2023
Debt Disclosure [Abstract]
Long-term Debt	Debt and financing lease obligations consisted of the following: (in thousands) October 31, January 31, Revolving credit facility $ 185,000 $ 221,000 Term Loan 100,000 — Delayed Draw Term Loan — — 2021-A VIE Asset-backed Class B Notes — 54,597 2021-A VIE Asset-backed Class C Notes 33,448 63,890 2022-A VIE Asset-backed Class A Notes — 117,935 2022-A VIE Asset-backed Class B Notes 86,706 132,090 2022-A VIE Asset-backed Class C Notes 63,090 63,090 2023-A VIE Asset-backed Class A Notes 109,617 — 2023-A VIE Asset-backed Class B Notes 82,430 — 2023-A VIE Asset-backed Class C Notes 30,550 — Financing lease obligations and other short-term debt 12,436 5,226 Total debt and financing lease obligations 703,277 657,828 Less: Deferred debt issuance costs (21,871) (20,812) Current maturities of long-term debt and financing lease obligations (7,934) (937) Long-term debt and financing lease obligations $ 673,472 $ 636,079
Schedule of Asset-backed Notes	The asset-backed notes outstanding as of October 31, 2023 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) 2021-A Class C $ 63,890 $ 63,450 $ 33,448 11/23/2021 5/15/2026 4.59% 5.25% 2022-A Class B 132,090 129,050 86,706 7/21/2022 12/15/2026 9.52% 10.86% 2022-A Class C 63,090 43,737 63,090 11/30/2022 12/15/2026 —% 20.74% 2023-A Class A 160,690 159,603 109,617 8/17/2023 01/17/2028 8.01% 14.50% 2023-A Class B 82,430 79,958 82,430 8/17/2023 01/17/2028 10.00% 11.00% 2023-A Class C 30,550 26,665 30,550 8/17/2023 01/17/2028 11.00% 11.14% Total $ 532,740 $ 502,463 $ 405,841 (1) After giving effect to debt issuance costs. (2)
Covenant Compliance	A summary of the significant financial covenants that govern our Revolving Credit Facility compared to our actual compliance status at October 31, 2023 is presented below: Actual Required Minimum/ Maximum Interest Coverage Ratio for the quarter must equal or exceed minimum Test Waived 1.00:1.00 Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum Test Waived 1.50:1.00 Leverage Ratio must not exceed maximum 2.47:1.00 4.50:1.00 ABS Excluded Leverage Ratio must not exceed maximum 1.53:1.00 2.50:1.00 Capital Expenditures, net, must not exceed maximum $41.7 million $100.0 million

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Oct. 31, 2023
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) October 31, January 31, Assets: Restricted cash $ 39,321 $ 38,727 Due from Conn’s, Inc., net 2,207 — Customer accounts receivable: Customer accounts receivable 486,617 506,811 Restructured accounts 69,580 46,626 Allowance for uncollectible accounts (96,833) (105,982) Allowance for no-interest option credit programs (9,274) (9,340) Deferred fees and origination costs (4,702) (4,851) Total customer accounts receivable, net 445,388 433,264 Total assets $ 486,916 $ 471,991 Liabilities: Accrued expenses $ 3,654 $ 3,475 Other liabilities 4,382 4,578 Due to Conn’s, Inc., net — 2,249 Long-term debt: 2021-A Class B Notes — 54,597 2021-A Class C Notes 33,448 63,890 2022-A Class A Notes — 117,935 2022-A Class B Notes 86,706 132,090 2022-A Class C Notes 63,090 63,090 2023-A Class A Notes 109,617 — 2023-A Class B Notes 82,430 — 2023-A Class C Notes 30,550 — 405,841 431,602 Less: deferred debt issuance costs (16,213) (20,812) Total debt 389,628 410,790 Total liabilities $ 397,664 $ 421,092

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 31, 2023
Segment Reporting [Abstract]
Financial information by segment	Financial information by segment is presented in the following tables: Three Months Ended October 31, 2023 (in thousands) Retail Credit Eliminations Total Revenues: Furniture and mattress $ 74,406 $ — $ (826) $ 73,580 Home appliance 79,622 — (743) 78,879 Consumer electronics 25,146 — (534) 24,612 Home office 9,539 — (303) 9,236 Other 13,918 — 1 13,919 Product sales 202,631 — (2,405) 200,226 Repair service agreement commissions 15,938 — — 15,938 Service revenues 2,288 — — 2,288 Total net sales 220,857 — (2,405) 218,452 Finance charges and other revenues 497 61,528 (347) 61,678 Total revenues 221,354 61,528 (2,752) 280,130 Costs and expenses: Cost of goods sold 146,772 1,854 (2,264) 146,362 Selling, general and administrative expense (1) 97,212 34,070 (250) 131,032 Provision for bad debts 122 39,001 — 39,123 Charges and credits 2,071 — — 2,071 Total costs and expenses 246,177 74,925 (2,514) 318,588 Operating loss (24,823) (13,397) (238) (38,458) Interest expense (91) 22,539 — 22,448 Loss before income taxes $ (24,732) $ (35,936) $ (238) $ (60,906) Three Months Ended October 31, 2022 (in thousands) Retail Credit Eliminations Total Revenues: Furniture and mattress $ 79,927 $ — $ — $ 79,927 Home appliance 102,884 — — 102,884 Consumer electronics 31,911 — — 31,911 Home office 8,630 — — 8,630 Other 9,824 — — 9,824 Product sales 233,176 — — 233,176 Repair service agreement commissions 18,804 — — 18,804 Service revenues 2,378 — — 2,378 Total net sales 254,358 — — 254,358 Finance charges and other revenues 270 66,572 66,842 Total revenues 254,628 66,572 — 321,200 Costs and expenses: Cost of goods sold 169,842 — — 169,842 Selling, general and administrative expense (1) 94,240 32,003 — 126,243 Provision for bad debts 261 34,843 — 35,104 Charges and credits 8,006 — — 8,006 Total costs and expenses 272,349 66,846 — 339,195 Operating loss (17,721) (274) — (17,995) Interest expense — 11,478 — 11,478 Loss before income taxes $ (17,721) $ (11,752) $ — $ (29,473) Nine Months Ended October 31, 2023 (in thousands) Retail Credit Eliminations Total Revenues: Furniture and mattress $ 232,041 $ — $ (1,692) $ 230,349 Home appliance 252,472 — (1,790) 250,682 Consumer electronics 77,736 — (1,291) 76,445 Home office 26,147 — (707) 25,440 Other 43,466 — (58) 43,408 Product sales 631,862 — (5,538) 626,324 Repair service agreement commissions 51,600 — — 51,600 Service revenues 6,720 — — 6,720 Total net sales 690,182 — (5,538) 684,644 Finance charges and other revenues 1,512 186,406 (956) 186,962 Total revenues 691,694 186,406 (6,494) 871,606 Costs and expenses: Cost of goods sold 450,576 2,548 (4,844) 448,280 Selling, general and administrative expense (1) 294,457 101,537 (750) 395,244 Provision for bad debts 321 101,013 — 101,334 Charges and credits 1,264 — — 1,264 Total costs and expenses 746,618 205,098 (5,594) 946,122 Operating loss (54,924) (18,692) (900) (74,516) Interest expense 16 55,598 — 55,614 Loss before income taxes $ (54,940) $ (74,290) $ (900) $ (130,130) Nine Months Ended October 31, 2022 (in thousands) Retail Credit Eliminations Total Revenues: Furniture and mattress $ 254,341 $ — $ — $ 254,341 Home appliance 333,359 — — 333,359 Consumer electronics 97,375 — — 97,375 Home office 27,676 — — 27,676 Other 25,847 — — 25,847 Product sales 738,598 — — 738,598 Repair service agreement commissions 60,256 — — 60,256 Service revenues 7,279 — — 7,279 Total net sales 806,133 — — 806,133 Finance charges and other revenues 815 200,704 — 201,519 Total revenues 806,948 200,704 — 1,007,652 Costs and expenses: Cost of goods sold 530,942 — — 530,942 Selling, general and administrative expense (1) 288,306 100,863 — 389,169 Provision for bad debts 848 76,211 — 77,059 Charges and credits 6,522 — — 6,522 Total costs and expenses 826,618 177,074 — 1,003,692 Operating (loss) income (19,670) 23,630 — 3,960 Interest expense — 23,807 — 23,807 Loss before income taxes $ (19,670) $ (177) $ — $ (19,847) October 31, 2023 October 31, 2022 (in thousands) Retail Credit Total Retail Credit Total Total assets $ 637,368 $ 1,089,024 $ 1,726,392 $ 594,302 $ 1,142,830 $ 1,737,132 (1) For the three months ended October 31, 2023 and 2022, the amount of corporate overhead allocated to each segment reflected in SG&A expense was $8.2 million and $7.4 million, respectively. For the three months ended October 31, 2023 and 2022, the amount of reimbursement made to the retail segment by the credit segment was $6.1 million and $6.5 million, respectively. For the nine months ended October 31, 2023 and 2022, the amount of corporate overhead allocated to each segment reflected in SG&A was $25.8 million and $23.6 million, respectively. For the nine months ended October 31, 2023 and 2022, the amount of reimbursement made to the retail segment by the credit segment was $18.5 million and $19.9 million, respectively.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended		9 Months Ended
	Oct. 31, 2023 USD ($)	Oct. 31, 2022 USD ($)	Oct. 31, 2023 USD ($) segment	Oct. 31, 2022 USD ($)	Jan. 31, 2023 USD ($)	Jan. 31, 2022 USD ($)
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	$ 2,800,000		$ 2,800,000		$ 5,200,000
Restricted cash	41,430,000		41,430,000		40,837,000
Receivables [Abstract]
Long-term customer accounts receivable, net	355,092,000		355,092,000		389,054,000
Accounts Receivable, Allowance for Credit Loss	170,331,000	$ 187,678,000	170,331,000	$ 187,678,000	184,174,000	$ 209,020,000
Interest Income on Customer Accounts Receivable
Deferred revenue	7,800,000		7,800,000		8,100,000
Nonaccrual status	8,700,000		8,700,000		7,900,000
90 days past due and still accruing	81,000,000		81,000,000		92,200,000
Financing Receivable, No-Interest Option Program Period			12
Bankruptcy status, less than 60 days delinquent	8,100,000		8,100,000		7,100,000
Debt Issuance Costs
Deferred debt issuance costs	21,871,000		$ 21,871,000		20,812,000
Gain (Loss) on Extinguishment of Debt				$ 19,847,000
Income Taxes
Effective tax rate			7.60%	16.90%
Stock-based Compensation
Stock-based compensation expense	2,700,000	2,400,000	$ 8,858,000	$ 9,004,000
Fair Value of Financial Instruments
Long-term Debt	405,841,000		405,841,000
Restructured Accounts
Receivables [Abstract]
Accounts Receivable, Allowance for Credit Loss	35,371,000	$ 35,078,000	35,371,000	$ 35,078,000	33,595,000	$ 43,976,000
Customer Deposits
Deferred Revenue
Deferred revenue, revenue recognized			3,100,000
RSA Administration Fees
Deferred Revenue
Deferred revenue, revenue recognized	2,200,000
Secured Debt
Fair Value of Financial Instruments
Debt fair value	396,500,000		396,500,000
Revolving Credit Facility
Debt Issuance Costs
Deferred debt issuance costs	3,600,000		3,600,000		5,400,000
Securitized Receivables Servicer
Cash and Cash Equivalents and Restricted Cash
Restricted cash	7,000,000		7,000,000		5,200,000
Collateral Held by VIE
Cash and Cash Equivalents and Restricted Cash
Restricted cash	32,300,000		32,300,000		$ 33,600,000
Secured Debt
Fair Value of Financial Instruments
Long-term Debt	$ 405,800,000		$ 405,800,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock awards granted (in shares)	186,000	155,000	1,543,000	808,000
Aggregate grant date fair value	$ 809	$ 1,162	$ 11,794	$ 16,924
Dividend yield			0%
Stock-based compensation expense	$ 2,700	$ 2,400	$ 8,858	$ 9,004
Share-Based Payment Arrangement			Stock-based Compensation. During the nine months ended October 31, 2023, the Company granted performance stock awards (“PSUs”) and restricted stock awards (“RSUs”). The awards had a combined aggregate grant date fair value of $11.8 million. The PSUs will vest in fiscal year 2027, if at all, upon certification by the Compensation Committee of the Board of Directors of satisfaction of certain total stockholder return performance conditions over the three fiscal years commencing with fiscal year 2024. The RSUs will vest ratably, over periods of three years from the date of grant. Stock-based compensation expense is recorded, net of actual forfeitures, for share-based compensation awards over the requisite service period using the straight-line method. 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 and nine months ended October 31, 2023 and 2022: Three Months Ended Nine Months Ended 2023 2022 2023 2022 RSUs (1) 186 155 1,369 631 PSUs (2) — — 174 177 Total stock awards granted 186 155 1,543 808 Aggregate grant date fair value (in thousands) $ 809 $ 1,162 $ 11,794 $ 16,924 (1) The RSUs issued during the three and nine months ended October 31, 2023 and 2022 are scheduled to vest ratably over periods of three years to four years from the date of grant with the exception of RSU grants issued to the Board of Directors. (2) The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the nine months ended October 31, 2023 included expected volatility of 73.0%, an expected term of 3 years and risk-free interest rate of 3.75%. No dividend yield was included in the weighted-average assumptions for the PSUs granted during the nine months ended October 31, 2023. The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the nine months ended October 31, 2022 included expected volatility of 78.0%-80.0%, an expected term of 3 years and risk-free interest rate of 1.39%-2.58%. No dividend yield was included in the weighted average assumptions for the PSUs granted during the nine months ended October 31, 2022.
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
(RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs (in shares)	186,000	155,000	1,369,000	631,000
(RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
(PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs (in shares)	0	0	174,000	177,000
Expected term	3 years
Risk free interest rate				1.39%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum			3.75%
(PSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate			73%	78%
Risk free interest rate		2.58%
(PSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate				80%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Earnings per Share (Details) - shares	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares outstanding - Basic (in shares)	24,262,000	23,911,000	24,196,000	24,173,000
Dilutive effect of stock options, RSUs and PSUs (in shares)	0	0	0	0
Weighted average common shares outstanding - Diluted (in shares)	24,262,000	23,911,000	24,196,000	24,173,000
Restricted Stock Units And PSUs
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)	2,077,000	1,545,000	2,066,000	1,429,000

Customer Accounts Receivable (D

Customer Accounts Receivable (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Jan. 31, 2023
Quantitative information about the receivables portfolio managed [Abstract]
Customer accounts receivable (1)(2)	$ 979,149		$ 1,025,364
Deferred fees and origination costs, net	(11,154)		(11,699)
Allowance for no-interest option credit programs	18,094		18,753
Allowance for uncollectible interest and fees	16,991		20,007
Carrying value of customer accounts receivable	932,910		974,905
Allowance for credit losses	(153,340)		(164,168)
Other accounts receivable	462
Total customer accounts receivable, net	780,032		810,737
Short-term portion of customer accounts receivable, net	(424,940)	$ (421,683)	(421,683)
Long-term customer accounts receivable, net	355,092		389,054
Re-aged customer accounts receivable	168,500		160,900
Financing Receivable, Past Due	266,900		290,400
Interest receivable	25,500		27,500
Interest receivable outstanding net of allowance for uncollectible interest	8,500		7,500
Financing Receivable, Allowance for Credit Loss, Recovery	48,000		47,400
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period 1/31/23	184,174	209,020	209,020
Provision	130,786	114,849
Principal charge-offs	(138,565)	(134,436)
Interest charge-offs	(33,311)	(32,217)
Recoveries	27,619	30,462
Allowance at end of period	170,331	187,678	184,174
Average total customer portfolio balance	990,378	1,061,985
Accounting Standards Update 2022-02 Cumulative Effect, Period of Adoption [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at end of period	400
Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period 1/31/23		209,020	209,020
Allowance at end of period	183,802
Restructured Accounts
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period 1/31/23	33,595	43,976	43,976
Provision	30,530	25,771
Principal charge-offs	(27,262)	(34,222)
Interest charge-offs	(6,554)	(8,201)
Recoveries	5,434	7,754
Allowance at end of period	35,371	35,078	33,595
Average total customer portfolio balance	84,098	89,042
Restructured Accounts | Cumulative Effect, Period of Adoption, Adjustment
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period 1/31/23	372
Allowance at end of period			372
Restructured Accounts | Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period 1/31/23		43,976	43,976
Allowance at end of period	33,223
Customer Accounts Receivable [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period 1/31/23	150,579	165,044	165,044
Provision	100,256	89,078
Principal charge-offs	(111,303)	(100,214)
Interest charge-offs	(26,757)	(24,016)
Recoveries	22,185	22,708
Allowance at end of period	134,960	152,600	150,579
Average total customer portfolio balance	906,280	972,943
Customer Accounts Receivable [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period 1/31/23		$ 165,044	$ 165,044
Allowance at end of period	$ 150,579

Customer Accounts Receivable -

Customer Accounts Receivable - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023	Oct. 31, 2022
Receivables [Abstract]
Customer accounts receivable - current	$ 511,212	$ 517,611
Allowance for credit losses for customer accounts receivable - current	(86,272)	(95,928)
Customer accounts receivable, net of allowances	424,940	421,683	$ 421,683
Customer accounts receivable - non current	439,152	477,301
Allowance for credit losses for customer accounts receivable - non current	(84,060)	(88,247)
Long-term portion of customer accounts receivable, net of allowances	355,092	389,054
Total customer accounts receivable, net	$ 780,032	$ 810,737

Customer Accounts Receivable De

Customer Accounts Receivable Delinquency Bucket (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2023	Jan. 31, 2023
Financing Receivable, Past Due [Line Items]
2022	$ 477,573
2021	307,655
2020	127,981
2019	15,182
Prior	4,519
Carrying value of customer accounts receivable	$ 932,910	$ 974,905
% of Total	100%
Financing Receivable Charge-off, Year One, Originated, Current Fiscal Year	$ 4,318
Financing Receivable, Charge-off, Year Three, Originated, Two Years before Current Fiscal Year	51,422
Financing Receivable, Charge-off, Year Four, Originated, Three Years before Current Fiscal Year	12,911
Financing Receivable Charge-off, Originated Four or More Years before Latest Fiscal Year	7,124
Financing Receivable, Charge-off, Carrying Value	138,565
Restructured Accounts
Financing Receivable, Past Due [Line Items]
Average total customer portfolio balance	62,790
Current
Financing Receivable, Past Due [Line Items]
2022	380,667
2021	204,074
2020	74,007
2019	5,785
Prior	1,482
Carrying value of customer accounts receivable	$ 666,015
% of Total	71.40%
1-30
Financing Receivable, Past Due [Line Items]
2022	$ 50,045
2021	48,007
2020	23,734
2019	3,342
Prior	841
Carrying value of customer accounts receivable	$ 125,969
% of Total	13.50%
31-60
Financing Receivable, Past Due [Line Items]
2022	$ 14,179
2021	14,054
2020	7,689
2019	1,566
Prior	499
Carrying value of customer accounts receivable	$ 37,987
% of Total	4.10%
61-90
Financing Receivable, Past Due [Line Items]
2022	$ 8,109
2021	7,932
2020	4,306
2019	846
Prior	335
Carrying value of customer accounts receivable	$ 21,528
% of Total	2.30%
91+
Financing Receivable, Past Due [Line Items]
2022	$ 24,573
2021	33,588
2020	18,245
2019	3,643
Prior	1,362
Carrying value of customer accounts receivable	$ 81,411
% of Total	8.70%

Customer Accounts Receivable _2

Customer Accounts Receivable - Carrying Value (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 31, 2023	Oct. 31, 2023
Financing Receivable, Modified [Line Items]
Percent of Carrying Value of Customer Accounts Receivable	1.10%	3.60%
Financing Receivable, Carrying Value	$ 10,756	$ 35,574
Significantly Re-aged [Member]
Financing Receivable, Modified [Line Items]
Percent of Carrying Value of Customer Accounts Receivable	1.10%	3.60%
Financing Receivable, Carrying Value	$ 10,513	$ 34,855
Balance Forgiveness [Member]
Financing Receivable, Modified [Line Items]
Percent of Carrying Value of Customer Accounts Receivable	0%	0%
Financing Receivable, Carrying Value	$ 88	$ 154
Refinance [Member]
Financing Receivable, Modified [Line Items]
Percent of Carrying Value of Customer Accounts Receivable	0%	0%
Financing Receivable, Carrying Value	$ 75	$ 311
Combination - significantly re-aged and balance forgiveness [Member]
Financing Receivable, Modified [Line Items]
Percent of Carrying Value of Customer Accounts Receivable	0%	0%
Financing Receivable, Carrying Value	$ 80	$ 254

Customer Accounts Receivable _3

Customer Accounts Receivable - Loan Modifications Made to Borrowers Experiencing Financial Difficulty - (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 31, 2023	Oct. 31, 2023
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	$ 10,756	$ 35,574
Current
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	6,515	15,711
1-30
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	2,590	8,139
31-60
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	1,046	4,104
61-90
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	116	2,272
91+
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	489	5,348
Significantly Re-aged [Member]
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	10,513	34,855
Significantly Re-aged [Member] | Current
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	6,375	15,402
Significantly Re-aged [Member] | 1-30
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	2,558	8,023
Significantly Re-aged [Member] | 31-60
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	1,026	4,063
Significantly Re-aged [Member] | 61-90
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	112	2,245
Significantly Re-aged [Member] | 91+
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	442	5,122
Balance Forgiveness [Member]
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	88	154
Balance Forgiveness [Member] | Current
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	25	43
Balance Forgiveness [Member] | 1-30
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	9	12
Balance Forgiveness [Member] | 31-60
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	9	8
Balance Forgiveness [Member] | 61-90
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	4	13
Balance Forgiveness [Member] | 91+
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	41	78
Refinance [Member]
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	75	311
Refinance [Member] | Current
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	54	157
Refinance [Member] | 1-30
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	10	66
Refinance [Member] | 31-60
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	10	20
Refinance [Member] | 61-90
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	0	9
Refinance [Member] | 91+
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	1	59
Combination - significantly re-aged and balance forgiveness [Member]
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	80	254
Combination - significantly re-aged and balance forgiveness [Member] | Current
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	61	109
Combination - significantly re-aged and balance forgiveness [Member] | 1-30
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	13	38
Combination - significantly re-aged and balance forgiveness [Member] | 31-60
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	1	13
Combination - significantly re-aged and balance forgiveness [Member] | 61-90
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	0	5
Combination - significantly re-aged and balance forgiveness [Member] | 91+
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, After 12 Months	$ 5	$ 89

Customer Accounts Receivable _4

Customer Accounts Receivable - Financial Effect of Modifications (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 31, 2023	Oct. 31, 2023
Significantly Re-aged [Member] | Minimum
Financing Receivable, Modified [Line Items]
Financing Receivable, Modified, Payment Delay		4 months
Significantly Re-aged [Member] | Maximum
Financing Receivable, Modified [Line Items]
Financing Receivable, Modified, Payment Delay		8 months
Balance Forgiveness [Member]
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount	$ 11	$ 20
Refinance [Member]
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount	$ 12	$ 36
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification	8.26%	6.70%
Financing Receivable, Modified, Weighted Average Term Increase from Modification	28 months	27 months
Combination - significantly re-aged and balance forgiveness [Member]
Financing Receivable, Modified [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount	$ 14	$ 44
Combination - significantly re-aged and balance forgiveness [Member] | Minimum
Financing Receivable, Modified [Line Items]
Financing Receivable, Modified, Payment Delay		4 months
Combination - significantly re-aged and balance forgiveness [Member] | Maximum
Financing Receivable, Modified [Line Items]
Financing Receivable, Modified, Payment Delay		8 months

Customer Accounts Receivable _5

Customer Accounts Receivable - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Apr. 30, 2023	Oct. 31, 2023
Receivables [Abstract]
Financing Receivable, Allowance for Credit Loss, Writeoff	$ 2,400		$ 3,800
Financing Receivable, Troubled Debt Restructuring, Premodification		$ 76,800
Financing Receivable, Allowance for Credit Loss	$ 400		$ 400

Charges and Credits (Details)

Charges and Credits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Charges and Credits [Abstract]
Lease modification		$ 0	$ 3,147	$ (1,484)
Severance Costs	$ 8,006		8,000
Charges and credits, net	2,071	$ 8,006	1,264	$ 6,522
Professional Fees	$ 2,071		2,071
Asset Impairment Charges			$ 2,340

Finance Charges and Other Rev_3

Finance Charges and Other Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]
Interest income and fees	$ 55,290	$ 61,395	$ 169,535	$ 185,869
Insurance income	4,922	5,176	14,729	14,835
Other revenues	1,466	271	2,698	815
Other Income	61,678	66,842	186,962	201,519
Provisions for uncollectible interest	$ 11,400	$ 19,100	$ 30,200	$ 38,600

Debt and Financing Lease Obli_3

Debt and Financing Lease Obligations - Schedule of Debt and Capital Lease Obligations (Details) - USD ($)	Feb. 21, 2023	Oct. 31, 2023	Jul. 31, 2023	Jan. 31, 2023	Mar. 29, 2021
Debt Instrument [Line Items]
Long-term Debt		$ 405,841,000
Financing lease obligations and other short-term debt		12,436,000		$ 5,226,000
Total debt and financing lease obligations		703,277,000		657,828,000
Deferred debt issuance costs		(21,871,000)		(20,812,000)
Current maturities of long-term debt and financing lease obligations		(7,934,000)		(937,000)
Long-term debt and financing lease obligations		673,472,000		636,079,000
Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt		389,628,000		410,790,000
Deferred debt issuance costs		(16,213,000)		(20,812,000)
Long-term debt and financing lease obligations		405,841,000		431,602,000
2021-A VIE Class C Notes
Debt Instrument [Line Items]
Long-term Debt		33,448,000
2022-A VIE Class B Notes
Debt Instrument [Line Items]
Long-term Debt		86,706,000
2022-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		63,090,000
2023-A VIE Class A Notes
Debt Instrument [Line Items]
Long-term Debt		109,617,000
2023-A VIE Class B Notes
Debt Instrument [Line Items]
Long-term Debt		82,430,000
2023-A VIE Class C Notes
Debt Instrument [Line Items]
Long-term Debt		30,550,000
Secured Debt
Debt Instrument [Line Items]
Long-term Debt		405,800,000
Secured Debt | 2021-A VIE Class B Notes
Debt Instrument [Line Items]
Long-term Debt		0		54,597,000
Secured Debt | 2021-A VIE Class B Notes | Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt				54,597,000
Secured Debt | 2021-A VIE Class C Notes
Debt Instrument [Line Items]
Long-term Debt				63,890,000
Secured Debt | 2021-A VIE Class C Notes | Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt		33,448,000		63,890,000
Secured Debt | 2022-A VIE Class A Notes
Debt Instrument [Line Items]
Long-term Debt				117,935,000
Secured Debt | 2022-A VIE Class A Notes | Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt		0		117,935,000
Secured Debt | 2022-A VIE Class B Notes
Debt Instrument [Line Items]
Long-term Debt				132,090,000
Secured Debt | 2022-A VIE Class B Notes | Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt		86,706,000		132,090,000
Secured Debt | 2022-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Long-term Debt				63,090,000
Secured Debt | 2022-A VIE Class C Notes [Member] | Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt		63,090,000		63,090,000
Secured Debt | 2023-A VIE Class A Notes | Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt		109,617,000
Secured Debt | 2023-A VIE Class B Notes | Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt		82,430,000
Secured Debt | 2023-A VIE Class C Notes | Variable Interest Entity
Debt Instrument [Line Items]
Long-term Debt		30,550,000
Revolving Credit Facility
Debt Instrument [Line Items]
Deferred debt issuance costs		(3,600,000)		(5,400,000)
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Aggregate commitment					$ 650,000,000
Long-term Debt		185,000,000		$ 221,000,000
Term Loan | Line of Credit
Debt Instrument [Line Items]
Aggregate commitment	$ 100,000,000
Long-term Debt		$ 100,000,000
Line of Credit | Line of Credit
Debt Instrument [Line Items]
Quarterly scheduled amortization payments	$ 1,250,000
Delayed Draw Term Loan | Line of Credit
Debt Instrument [Line Items]
Aggregate commitment			$ 50,000,000

Debt and Financing Lease Obli_4

Debt and Financing Lease Obligations - Senior Notes (Details) $ in Thousands	Oct. 31, 2023 USD ($)
Debt Instrument [Line Items]
Original principal amount	$ 532,740

Debt and Financing Lease Obli_5

Debt and Financing Lease Obligations - Asset Backed Notes (Details) - USD ($) $ in Thousands			9 Months Ended
	Jul. 21, 2022	Nov. 23, 2021	Oct. 31, 2023	Aug. 22, 2023
Debt Instrument [Line Items]
Original Principal Amount			$ 532,740
Original Net Proceeds			502,463
Current Principal Amount			405,841
2021-A VIE Class B Notes
Debt Instrument [Line Items]
Original Principal Amount			$ 63,890
Original Net Proceeds		$ 63,450
Contractual Interest Rate			4.59%
Effective Interest Rate			5.25%
2021-A VIE Class C Notes
Debt Instrument [Line Items]
Current Principal Amount			$ 33,448
2022-A VIE Class A Notes
Debt Instrument [Line Items]
Original Principal Amount			$ 132,090
Original Net Proceeds	$ 129,050
Contractual Interest Rate			9.52%
Effective Interest Rate			10.86%
2022-A VIE Class B Notes
Debt Instrument [Line Items]
Original Principal Amount			$ 63,090
Original Net Proceeds	43,737
Current Principal Amount			$ 86,706
Contractual Interest Rate			0%
Effective Interest Rate			20.74%
2022-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Current Principal Amount			$ 63,090
2023-A VIE Class A Notes
Debt Instrument [Line Items]
Original Principal Amount			160,690
Original Net Proceeds	159,603
Current Principal Amount			$ 109,617
Contractual Interest Rate			8.01%
Effective Interest Rate			14.50%
2023-A VIE Class B Notes
Debt Instrument [Line Items]
Original Principal Amount			$ 82,430
Original Net Proceeds	79,958
Current Principal Amount			$ 82,430
Contractual Interest Rate			10%
Effective Interest Rate			11%
2023-A VIE Class C Notes
Debt Instrument [Line Items]
Original Principal Amount			$ 30,550
Original Net Proceeds	$ 26,665
Current Principal Amount			$ 30,550
Contractual Interest Rate			11%
Effective Interest Rate			11.14%
2023-A VIE Asset-Backed Class C Notes
Debt Instrument [Line Items]
Original Principal Amount				$ 30,600
Contractual Interest Rate				11%
2023-A VIE Asset-Backed Class A Notes
Debt Instrument [Line Items]
Original Principal Amount				$ 160,700
Contractual Interest Rate				8.01%
2023-A VIE Asset-Backed Class B Notes
Debt Instrument [Line Items]
Original Principal Amount				$ 82,400
Contractual Interest Rate				10%
Asset-backed Securities
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 ($)	Jul. 31, 2023	Feb. 21, 2023	Nov. 21, 2022	Mar. 29, 2021	Oct. 31, 2023	Jun. 22, 2023
Line of Credit Facility [Line Items]
Original principal amount					$ 532,740,000
Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 40,000,000			$ 40,000,000
Line of Credit Facility, Current Borrowing Capacity	40,000,000			40,000,000
Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity				100,000,000
Line of Credit Facility, Current Borrowing Capacity				100,000,000
Supplier Credit Facility | Minimum
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity						$ 7,000,000
Line of Credit Facility, Current Borrowing Capacity						7,000,000
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum capacity extended under credit facility				$ 650,000,000
Weighted-average interest rate					8.60%
Line of Credit | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Unused capacity fee percentage			0.25%
Line of Credit | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Unused capacity fee percentage			0.50%
Line of Credit | Revolving Credit Facility | Alternate Base Rate | Minimum
Line of Credit Facility [Line Items]
Variable basis spread (percent)			1.50%
Line of Credit | Revolving Credit Facility | Alternate Base Rate | Maximum
Line of Credit Facility [Line Items]
Variable basis spread (percent)			2.25%
Line of Credit | Revolving Credit Facility | Federal Funds Rate
Line of Credit Facility [Line Items]
Variable basis spread (percent)			0.50%
Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Variable basis spread (percent)			1%
Debt Instrument, Interest- Free Period				30 days
Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Line of Credit Facility [Line Items]
Variable basis spread (percent)			2.50%
Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Line of Credit Facility [Line Items]
Variable basis spread (percent)			3.25%
Line of Credit | Term Loan
Line of Credit Facility [Line Items]
Maximum capacity extended under credit facility		$ 100,000,000
Line of Credit | Term Loan | Alternate Base Rate | Minimum
Line of Credit Facility [Line Items]
Variable basis spread (percent)		4.80%
Line of Credit | Term Loan | Alternate Base Rate | Maximum
Line of Credit Facility [Line Items]
Variable basis spread (percent)		7.50%
Line of Credit | Supplier Credit Facility
Line of Credit Facility [Line Items]
Maximum capacity extended under credit facility						$ 25,000,000
Line of Credit | Delayed Draw Term Loan
Line of Credit Facility [Line Items]
Maximum capacity extended under credit facility	$ 50,000,000
Line Of Credit Facility, Share Cap, Percentage					19.99%
Line of Credit | Delayed Draw Term Loan | Maximum
Line of Credit Facility [Line Items]
Unused capacity fee percentage	5%
Line Of Credit Facility, Share Cap, Percentage					20%
Line of Credit | Delayed Draw Term Loan | Alternate Base Rate | Minimum
Line of Credit Facility [Line Items]
Variable basis spread (percent)	5%
Line of Credit | Delayed Draw Term Loan | Alternate Base Rate | Maximum
Line of Credit Facility [Line Items]
Variable basis spread (percent)	10%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Available borrowing capacity					$ 144,200,000
Sub-facility for letters of credit					25,200,000
Additional borrowing capacity					$ 295,600,000

Debt and Financing Lease Obli_7

Debt and Financing Lease Obligations - Debt Covenants (Details) $ in Millions	9 Months Ended
	Oct. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Debt Instrument, Minimum Interest Coverage Ratio	1
Debt Instrument, Minimum Interest Coverage Ratio, Trailing Two Quarters	1.50
Actual
Leverage Ratio must not exceed (maximum)	2.47
ABS Excluded Leverage Ratio must not exceed (maximum)	1.53
Capital Expenditures, net, must not exceed (maximum)	$ 41.7
Required Minimum/ Maximum
Leverage Ratio must not exceed (maximum)	4.50
ABS Excluded Leverage Ratio must not exceed (maximum)	2.50
Capital Expenditures, net, must not exceed (maximum)	$ 100

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details)	9 Months Ended
	Oct. 31, 2023
Asset-backed Securities
Variable Interest Entity [Line Items]
Monthly fee percentage on outstanding balance	4.75%

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023	Oct. 31, 2022	Jan. 31, 2022
Assets:
Restricted cash	$ 41,430	$ 40,837
Customer accounts receivable:
Allowance for uncollectible accounts	(170,331)	(184,174)	$ (187,678)	$ (209,020)
Allowance for no-interest option credit programs	18,094	18,753
Deferred fees and origination costs, net	(11,154)	(11,699)
Total customer accounts receivable, net	780,032	810,737
Total assets	1,726,392	1,716,215	$ 1,737,132
Liabilities:
Total debt	405,841
Long-term debt	673,472	636,079
Less: deferred debt issuance costs	(21,871)	(20,812)
Total liabilities	1,335,824	1,213,805
2021-A VIE Class C Notes
Liabilities:
Total debt	33,448
2022-A VIE Class B Notes
Liabilities:
Total debt	86,706
2022-A VIE Class C Notes [Member]
Liabilities:
Total debt	63,090
Secured Debt
Liabilities:
Total debt	405,800
Secured Debt | 2021-A VIE Class B Notes
Liabilities:
Total debt	0	54,597
Secured Debt | 2021-A VIE Class C Notes
Liabilities:
Total debt		63,890
Secured Debt | 2022-A VIE Class A Notes
Liabilities:
Total debt		117,935
Secured Debt | 2022-A VIE Class B Notes
Liabilities:
Total debt		132,090
Secured Debt | 2022-A VIE Class C Notes [Member]
Liabilities:
Total debt		63,090
Variable Interest Entity
Assets:
Restricted cash	39,321	38,727
Other Receivables	2,207	0
Customer accounts receivable:
Customer accounts receivable	486,617	506,811
Restructured accounts	69,580	46,626
Allowance for uncollectible accounts	(96,833)	(105,982)
Allowance for no-interest option credit programs	9,274	9,340
Deferred fees and origination costs, net	(4,702)	(4,851)
Total customer accounts receivable, net	445,388	433,264
Total assets	486,916	471,991
Liabilities:
Accrued expenses	3,654	3,475
Other liabilities	4,382	4,578
Accounts Payable, Other, Current	0	2,249
Total debt	389,628	410,790
Long-term debt	405,841	431,602
Less: deferred debt issuance costs	(16,213)	(20,812)
Total liabilities	397,664	421,092
Variable Interest Entity | Secured Debt | 2021-A VIE Class B Notes
Liabilities:
Total debt		54,597
Variable Interest Entity | Secured Debt | 2021-A VIE Class C Notes
Liabilities:
Total debt	33,448	63,890
Variable Interest Entity | Secured Debt | 2022-A VIE Class A Notes
Liabilities:
Total debt	0	117,935
Variable Interest Entity | Secured Debt | 2022-A VIE Class B Notes
Liabilities:
Total debt	86,706	132,090
Variable Interest Entity | Secured Debt | 2022-A VIE Class C Notes [Member]
Liabilities:
Total debt	$ 63,090	$ 63,090

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023 USD ($) store state	Oct. 31, 2022 USD ($)	Oct. 31, 2023 USD ($) store segment state	Oct. 31, 2022 USD ($)	Jan. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			2
Estimated annual rate of reimbursement (as a percent)			2.50%
Number of states with retail stores | state	15		15
Revenues:
Total net sales	$ 218,452	$ 254,358	$ 684,644	$ 806,133
Finance charges and other revenues	61,678	66,842	186,962	201,519
Total revenues	280,130	321,200	871,606	1,007,652
Costs and expenses:
Cost of goods sold	146,362	169,842	448,280	530,942
Selling, general and administrative expense	131,032	126,243	395,244	389,169
Provision for bad debts	39,123	35,104	101,334	77,059
Charges and credits	2,071	8,006	1,264	6,522
Total costs and expenses	318,588	339,195	946,122	1,003,692
Operating (loss) income	(38,458)	(17,995)	(74,516)	3,960
Interest expense	22,448	11,478	55,614	23,807
Gain (Loss) on Extinguishment of Debt				(19,847)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(60,906)	(29,473)	(130,130)	(19,847)
Assets	1,726,392	1,737,132	1,726,392	1,737,132	$ 1,716,215
Allocation of overhead by operating segments	8,200	7,400	25,800	23,600
Retail
Revenues:
Total net sales	220,857	254,358	690,182	806,133
Finance charges and other revenues	497	270	1,512	815
Total revenues	221,354	254,628	691,694	806,948
Costs and expenses:
Cost of goods sold	146,772	169,842	450,576	530,942
Selling, general and administrative expense	97,212	94,240	294,457	288,306
Provision for bad debts	122	261	321	848
Charges and credits	2,071	8,006	1,264	6,522
Total costs and expenses	246,177	272,349	746,618	826,618
Operating (loss) income	(24,823)	(17,721)	(54,924)	(19,670)
Interest expense	(91)	0	16	0
Gain (Loss) on Extinguishment of Debt				19,670
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(24,732)	(17,721)	(54,940)
Assets	637,368	594,302	637,368	594,302
Retail | Intersegment Eliminations
Revenues:
Total revenues			18,500
Costs and expenses:
Reimbursement	6,100	6,500		19,900
Credit
Revenues:
Total net sales	0		0
Finance charges and other revenues	61,528	66,572	186,406	200,704
Total revenues	61,528	66,572	186,406	200,704
Costs and expenses:
Cost of goods sold	1,854	0	2,548	0
Selling, general and administrative expense	34,070	32,003	101,537	100,863
Provision for bad debts	39,001	34,843	101,013	76,211
Charges and credits	0		0	0
Total costs and expenses	74,925	66,846	205,098	177,074
Operating (loss) income	(13,397)	(274)	(18,692)	23,630
Interest expense	22,539	11,478	55,598	23,807
Gain (Loss) on Extinguishment of Debt				(177)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(35,936)	(11,752)	(74,290)
Assets	1,089,024	1,142,830	1,089,024	1,142,830
Eliminations
Revenues:
Total net sales	(2,405)		(5,538)
Finance charges and other revenues	(347)		(956)
Total revenues	(2,752)		(6,494)
Costs and expenses:
Cost of goods sold	(2,264)		(4,844)
Selling, general and administrative expense	(250)		(750)
Provision for bad debts			0
Charges and credits			0
Total costs and expenses	(2,514)		(5,594)
Operating (loss) income	(238)		(900)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(238)		(900)
Furniture and Mattress
Revenues:
Total net sales	73,580	79,927	230,349	254,341
Furniture and Mattress | Retail
Revenues:
Total net sales	74,406	79,927	232,041	254,341
Furniture and Mattress | Credit
Revenues:
Total net sales	0
Furniture and Mattress | Eliminations
Revenues:
Total net sales	(826)		(1,692)
Home Appliance
Revenues:
Total net sales	78,879	102,884	250,682	333,359
Home Appliance | Retail
Revenues:
Total net sales	79,622	102,884	252,472	333,359
Home Appliance | Credit
Revenues:
Total net sales	0
Home Appliance | Eliminations
Revenues:
Total net sales	(743)		(1,790)
Consumer Electronic
Revenues:
Total net sales	24,612	31,911	76,445	97,375
Consumer Electronic | Retail
Revenues:
Total net sales	25,146	31,911	77,736	97,375
Consumer Electronic | Credit
Revenues:
Total net sales	0
Consumer Electronic | Eliminations
Revenues:
Total net sales	(534)		(1,291)
Home Office
Revenues:
Total net sales	9,236	8,630	25,440	27,676
Home Office | Retail
Revenues:
Total net sales	9,539	8,630	26,147	27,676
Home Office | Credit
Revenues:
Total net sales	0
Home Office | Eliminations
Revenues:
Total net sales	(303)		(707)
Other
Revenues:
Total net sales	13,919	9,824	43,408	25,847
Other | Retail
Revenues:
Total net sales	13,918	9,824	43,466	25,847
Other | Credit
Revenues:
Total net sales	0
Other | Eliminations
Revenues:
Total net sales	1		(58)
Product
Revenues:
Total net sales	200,226	233,176	626,324	738,598
Product | Retail
Revenues:
Total net sales	202,631	233,176	631,862	738,598
Product | Credit
Revenues:
Total net sales	0
Product | Eliminations
Revenues:
Total net sales	(2,405)		(5,538)
RSA Commission
Revenues:
Total net sales	15,938	18,804	51,600	60,256
RSA Commission | Retail
Revenues:
Total net sales	15,938	18,804	51,600	60,256
RSA Commission | Credit
Revenues:
Total net sales	0
Service
Revenues:
Total net sales	2,288	2,378	6,720	7,279
Service | Retail
Revenues:
Total net sales	2,288	$ 2,378	$ 6,720	$ 7,279
Service | Credit
Revenues:
Total net sales	$ 0
Outside of US
Segment Reporting Information [Line Items]
Number of stores | store	0		0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Dec. 18, 2023	Jul. 31, 2023	Feb. 21, 2023	Nov. 21, 2022	Sep. 01, 2025	Oct. 31, 2023	Jan. 31, 2023	Mar. 29, 2021
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)						$ 0.01	$ 0.01
Revolving Credit Facility | Minimum
Subsequent Event [Line Items]
Cap on revolver borrowings		$ 40,000,000						$ 40,000,000
Revolving Credit Facility | Maximum
Subsequent Event [Line Items]
Cap on revolver borrowings								100,000,000
Revolving Credit Facility | Line of Credit
Subsequent Event [Line Items]
Aggregate commitment								$ 650,000,000
Revolving Credit Facility | Line of Credit | Minimum | Base Rate
Subsequent Event [Line Items]
Variable basis spread (percent)				1.50%
Revolving Credit Facility | Line of Credit | Maximum | Base Rate
Subsequent Event [Line Items]
Variable basis spread (percent)				2.25%
Revolving Credit Facility | Line of Credit | Step down cap
Subsequent Event [Line Items]
Cap on revolver borrowings					$ 300,000,000
Term Loan | Line of Credit
Subsequent Event [Line Items]
Aggregate commitment			$ 100,000,000
Term Loan | Line of Credit | Minimum | Base Rate
Subsequent Event [Line Items]
Variable basis spread (percent)			4.80%
Term Loan | Line of Credit | Maximum | Base Rate
Subsequent Event [Line Items]
Variable basis spread (percent)			7.50%
Delayed Draw Term Loan | Line of Credit
Subsequent Event [Line Items]
Aggregate commitment		$ 50,000,000
Delayed Draw Term Loan | Line of Credit | Minimum | Base Rate
Subsequent Event [Line Items]
Variable basis spread (percent)		5%
Delayed Draw Term Loan | Line of Credit | Maximum | Base Rate
Subsequent Event [Line Items]
Variable basis spread (percent)		10%
Subsequent Event
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Subsequent Event | Revolving Credit Facility | Line of Credit
Subsequent Event [Line Items]
Increase in interest rate margins (percent)	0.50%
Revolving commitments cap (percent)	33.30%
Contract advance rate as a percentage of net eligible contract payments (percent)	80%
Contract advance rate as a percentage of net fair value of owned contract portfolio (percent)	80%
Minimum excess availability to be maintained, - as a percentage of borrowing base (percent)	17.50%
Minimum excess availability to be maintained	$ 100,000,000
Minimum fixed charge coverage ratio	1
Availability under credit agreement, minimum fixed charge coverage ratio testing threshold (percent)	20%
Number of consecutive days to maintain minimum borrowings availability	30 days
Cap on revolver borrowings	$ 400,000,000
Subsequent Event | Revolving Credit Facility | Line of Credit | Minimum | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Variable basis spread (percent)	3%
Subsequent Event | Revolving Credit Facility | Line of Credit | Minimum | Base Rate
Subsequent Event [Line Items]
Variable basis spread (percent)	2%
Subsequent Event | Revolving Credit Facility | Line of Credit | Maximum | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Variable basis spread (percent)	3.75%
Subsequent Event | Revolving Credit Facility | Line of Credit | Maximum | Base Rate
Subsequent Event [Line Items]
Variable basis spread (percent)	2.75%
Subsequent Event | Term Loan | Line of Credit
Subsequent Event [Line Items]
Aggregate commitment	$ 108,000,000
Quarterly scheduled amortization payments	$ 1,350,000
Subsequent Event | Term Loan | Line of Credit | Minimum | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Variable basis spread (percent)	4.80%
Subsequent Event | Term Loan | Line of Credit | Maximum | Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Variable basis spread (percent)	8%
Subsequent Event | Delayed Draw Term Loan | Line of Credit
Subsequent Event [Line Items]
Trailing twelve-month EBITDA	$ 185,000,000
Trailing six-month liquidity	$ 100,000,000
Maximum number of shares underlying warrants issuable, as a percentage of shares Issued and outstanding (percent)	19.99%
Subsequent Event | Nonvoting Common Stock
Subsequent Event [Line Items]
Percentage of issued and outstanding number of shares (percent)	49.99%
Common stock, par value (in dollars per share)	$ 0.01
Subsequent Event | Preferred Stock | Convertible Preferred Stock | Newco BHF and FVCM
Subsequent Event [Line Items]
Preferred stock issued (in shares)	1,000,000
Subsequent Event | Common Stock | Nonvoting Common Stock
Subsequent Event [Line Items]
Aggregate number of shares into which shares can be converted (in shares)	24,500,000

Uncategorized Items - conn-2023

Label	Element	Value
Accrual of unsettled payments for repurchase of common stock	conn_AccrualOfUnsettledPaymentsForRepurchaseOfCommonStock	$ 0
Accrual of unsettled payments for repurchase of common stock	conn_AccrualOfUnsettledPaymentsForRepurchaseOfCommonStock	$ 3,471,000