GreenSky (GSKY) 10-K 2 Mar 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 19, 2020	Jun. 28, 2019
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-38506
Entity Registrant Name	GreenSky, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2135346
Entity Address, Address Line One	5565 Glenridge Connector
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Atlanta,
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30342
City Area Code	(678)
Local Phone Number	264-6105
Title of 12(b) Security	Class A common stock, $0.01 par value
Trading Symbol	GSKY
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 724,775,418
Documents Incorporated by Reference	Portions of the Proxy Statement for the 2020 Annual Meeting of Stockholders to be held on June 4, 2020 are incorporated by reference in Part III.
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001712923
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Class A common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		66,550,758
Class B common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		113,345,971

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 195,760	$ 303,390
Restricted cash	250,081	155,109
Loan receivables held for sale, net	51,926	2,876
Accounts receivable, net	19,493	15,400
Related party receivables	156	142
Property, equipment and software, net	18,309	10,232
Operating lease right-of-use assets	11,268
Deferred tax assets, net	364,841	306,979
Other assets	39,214	8,777
Total assets	951,048	802,905
Liabilities
Accounts payable	11,912	5,357
Accrued compensation and benefits	10,734	8,484
Other accrued expenses	3,244	1,015
Finance charge reversal liability	206,035	138,589
Term loan	384,497	386,822
Tax receivable agreement liability	311,670	260,901
Related party liabilities	0	825
Operating lease liabilities	13,884
Financial guarantee liability	16,698	626
Other liabilities	47,317	35,051
Total liabilities	1,005,991	837,670
Commitments, Contingencies and Guarantees (Note 14)
Equity (Deficit)
Additional paid-in capital	115,782	44,524
Retained earnings	56,109	24,218
Treasury stock	(146,234)	(43,878)
Accumulated other comprehensive income (loss)	(756)	0
Noncontrolling interest	(80,758)	(60,349)
Total equity (deficit)	(54,943)	(34,765)
Total liabilities and equity (deficit)	951,048	802,905
Class A common stock
Equity (Deficit)
Permanent equity	800	591
Class B common stock
Equity (Deficit)
Permanent equity	$ 114	$ 129

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Class A common stock
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	80,089,739	59,197,863
Common stock, outstanding (in shares)	66,424,838	54,504,902
Class B common stock
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, issued (in shares)	113,517,198	128,549,555
Common stock, outstanding (in shares)	113,517,198	128,549,555

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Revenue
Total revenue	$ 529,646		$ 414,673	$ 325,887
Costs and expenses
Cost of revenue (exclusive of depreciation and amortization)	248,580		160,439	89,708
Compensation and benefits	84,052		62,360	54,650
Sales and marketing	4,089		3,781	2,198
Property, office and technology	17,099		13,199	10,062
Depreciation and amortization	7,304		4,478	3,983
General and administrative	24,458		13,807	12,095
Financial guarantee	20,699		1,607	2,781
Related party	2,412		2,212	4,811
Total costs and expenses	408,693		261,883	180,288
Operating profit	120,953		152,790	145,599
Other income (expense), net
Interest and dividend income	6,057		6,111	5,180
Interest expense	(23,860)		(23,584)	(7,536)
Other gains (losses), net	(14,302)		(1,803)	(4,575)
Total other income (expense), net	(32,105)		(19,276)	(6,931)
Income before income tax expense (benefit)	88,848		133,514	138,668
Income tax expense (benefit)	(7,125)		5,534	0
Net income	95,973		127,980	138,668
Less: Net income attributable to noncontrolling interests	63,993		103,724
Net income attributable to GreenSky, Inc.	$ 31,980		$ 24,256
Earnings per share of Class A common stock
Basic (in dollars per share)	$ 0.52	[1]	$ 0.43
Diluted (in dollars per share)	$ 0.49	[1]	$ 0.41
Transaction fees
Revenue
Total revenue	$ 405,905		$ 348,904	278,958
Servicing and other
Revenue
Total revenue	$ 123,741		$ 65,769	$ 46,929
[1]	For the year ended December 31, 2018, basic and diluted earnings per share of Class A common stock are applicable only for the period from May 24, 2018 through December 31, 2018, which is the period following the initial public offering ("IPO") and related Reorganization Transactions (as defined in Note 1 to the Notes to Consolidated Financial Statements). See Note 2, Earnings per Share, to the Notes to Consolidated Financial Statements for the number of shares used in the computation of earnings per share of Class A common stock and the basis for the computation of earnings per share.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 95,973	$ 127,980	$ 138,668
Other comprehensive income (loss), net of tax
Net unrealized gains (losses) on interest rate swap arising during the period	(2,043)	0	0
Reclassification of interest rate swap settlements into interest expense (income) during the period	(479)	0	0
Other comprehensive income (loss), net of tax	(2,522)	0	0
Comprehensive income	93,451	127,980	$ 138,668
Less: Comprehensive income attributable to noncontrolling interests	62,227	103,724
Comprehensive income attributable to GreenSky, Inc.	$ 31,224	$ 24,256

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Class A common stock	Class B common stock	Common stockClass A common stock	Common stockClass B common stock	Additional Paid-in Capital	Additional Paid-in CapitalClass A common stock	Additional Paid-in CapitalClass B common stock	Retained Earnings	Treasury Stock	Treasury StockClass A common stock	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Members' equity, beginning balance at Dec. 31, 2016	$ (123,510)					$ (283,529)			$ 160,019
Beginning Balance at Dec. 31, 2016	212,210
Increase (Decrease) in Stockholders' Equity
Net income	138,668								138,668
Temporary equity, new issues	194,387
Repurchases	(447)					(447)
Distributions	(475,365)					(275,197)			(200,168)
Distributions prior to Reorganization Transactions	(575,124)
Share-based compensation	3,951					3,951
Class A stock option exercises (in shares)		202,000
Class A common stock option exercises	15					15
Equity-based payments to non-employees	301					301
Other comprehensive income (loss), net of tax	0
Members' equity, ending balance at Dec. 31, 2017	(456,387)					(554,906)			98,519
Ending Balance at Dec. 31, 2017	(26,039)
Redeemable preferred units, beginning balance at Dec. 31, 2016	335,720
Increase (Decrease) in Temporary Equity
Distributions	(99,759)
Redeemable preferred units, ending balance at Dec. 31, 2017	430,348
Increase (Decrease) in Stockholders' Equity
Net income	127,980
Other comprehensive income (loss), net of tax	0
Ending balance (in shares) at Dec. 31, 2018		54,504,902	128,549,555	54,504,902	128,549,555
Ending balance at Dec. 31, 2018	(34,765)			$ 591	$ 129	44,524			24,218	$ (43,878)	$ (43,878)	$ 0	$ (60,349)
Increase (Decrease) in Stockholders' Equity
Net income	95,973								31,980				63,993
Issuances (in shares)					1,180,163
Issuance	0				$ 1	(1)
Issuance of restricted share awards subsequent to IPO (in shares)				2,887,905
Issuance of unvested Class A common stock awards	0			$ 29		(29)
Class A stock option exercises (in shares)		5,192,471		2,273,592
Class A common stock option exercises		$ (12,044)		$ 23			$ (12,067)
Class B common stock exchanges (in shares)				15,730,379	15,910,785
Class B common stock exchanges			$ (2,198)	$ 157	$ (16)			$ (2,339)
Forfeited share-based compensation awards subsequent to IPO (in shares)				(210,845)	(301,735)
Forfeited share-based compensation awards	$ 0
Class A common stock repurchases (in shares)	(13,425,688)			(8,744,477)
Class A common stock repurchases	$ (146,100)	$ (102,241)									$ (102,241)
Shares withheld related to net share settlement and other (in shares)				(16,618)
Shares withheld related to net share settlement and other	(115)									(115)
Distributions	(18,668)								(2)				(18,666)
Share-based compensation	13,754					13,754
Equity-based payments to non-employees	15					15
Deferred tax adjustments	8,158					8,158
Impact on noncontrolling interest of change in ownership during period	0					63,767							(63,767)
Other comprehensive income (loss), net of tax	(2,522)											(756)	(1,766)
Ending balance (in shares) at Dec. 31, 2019		66,424,838	113,517,198	66,424,838	113,517,198
Ending balance at Dec. 31, 2019	$ (54,943)			$ 800	$ 114	$ 115,782			$ 56,109	$ (146,234)		$ (756)	$ (80,758)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net income	$ 95,973	$ 127,980	$ 138,668
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,304	4,478	3,983
Share-based compensation expense	13,754	6,038	3,951
Equity-based payments to non-employees	15	16	301
Fair value change in servicing assets and liabilities	(29,679)	945	2,071
Operating lease liability payments	(394)
Operating lease liability payments		(392)	(308)
Financial guarantee losses (gains)	16,072	(94)	47
Amortization of debt related costs	1,675	1,684	687
Original issuance discount on term loan payment	(42)	(31)	(9)
Loss on extinguishment of debt	0	0	254
Impairment losses	0	19	78
Deferred tax expense (benefit)	(7,125)	5,525	0
Loss on remeasurement of tax receivable agreement liability	9,790	0	0
Changes in assets and liabilities:
(Increase) decrease in loan receivables held for sale	(49,050)	70,730	(32,338)
(Increase) decrease in accounts receivable	(4,049)	2,958	(1,595)
(Increase) decrease in related party receivables	(14)	76	1,217
(Increase) decrease in other assets	(434)	1,574	(823)
Increase (decrease) in accounts payable	6,860	(1,488)	3,222
Increase (decrease) in finance charge reversal liability	67,446	44,441	26,084
Increase (decrease) in related party liabilities	0	(722)	494
Increase (decrease) in other liabilities	25,225	(7,311)	14,410
Net cash provided by operating activities	153,327	256,426	160,394
Cash flows from investing activities
Purchases of property, equipment and software	(15,381)	(6,581)	(4,135)
Net cash used in investing activities	(15,381)	(6,581)	(4,135)
Cash flows from financing activities
Proceeds from term loan	0	399,000	346,500
Repayments of term loan	(3,958)	(352,094)	(866)
Payment of debt issuance costs	0	0	(8,302)
Purchases of stock	(104,272)	(41,847)	0
Member distributions	(23,468)	(141,518)	(561,935)
Proceeds from option exercises after Reorganization Transactions	307	59	0
Payment of option exercise taxes after Reorganization Transactions	(12,351)	(4,869)	0
Payment of taxes on Class B common stock exchanges	(2,198)	0	0
Payments under tax receivable agreement	(4,664)	0	0
Proceeds from IPO, net of underwriters discount and commissions	0	954,845	0
Purchases of GreenSky Holdings, LLC units	0	(901,833)	0
Issuances of Class B common stock	0	129	0
Redemptions of GreenSky Holdings, LLC units prior to Reorganization Transactions	0	(496)	(447)
Payment of IPO related expenses	0	(3,855)	0
Member contributions	0	0	200,000
Equity option and warrant exercises prior to Reorganization Transactions	0	339	15
Payment of equity transaction expenses prior to Reorganization Transactions	0	(32)	(5,500)
Net cash provided by (used in) financing activities	(150,604)	(145,184)	(30,535)
Net increase (decrease) in cash and cash equivalents and restricted cash	(12,658)	104,661	125,724
Cash and cash equivalents and restricted cash at beginning of period	458,499	353,838	228,114
Cash and cash equivalents and restricted cash at end of period	445,841	458,499	353,838
Supplemental cash flow information
Interest paid	22,429	21,892	6,475
Income taxes paid	11	0	254
Supplemental non-cash investing and financing activities
Equity transaction costs accrued but not paid	0	82	114
Leasehold improvements acquired but not paid	0	300	756
Distributions accrued but not paid	5,978	10,086	13,189
Treasury stock traded but not settled	0	2,031	0
Class A common stock
Cash flows from financing activities
Purchases of stock	$ 0	$ (53,012)	$ 0

Organization, Summary of Signif

Organization, Summary of Significant Accounting Policies and New Accounting Standards	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Summary of Significant Accounting Policies and New Accounting Standards	Organization, Summary of Significant Accounting Policies and New Accounting Standards Organization Unless the context requires otherwise, "we," "us," "our," "GreenSky" and "the Company" refer to GreenSky, Inc. and its subsidiaries. "Bank Partners" are defined as federally insured banks that originate loans under the consumer financing and payments program that we administer for use by merchants on behalf of such banks in connection with which we provide point-of-sale financing and payments technology and related marketing, servicing, collection and other services (the "GreenSky program" or "program"). We are a leading technology company Powering Commerce at the Point of Sale ® . Our platform is powered by a proprietary technology infrastructure that facilitates merchant sales, while reducing the friction and improving the economics associated with a consumer making a purchase and a lender or financial institution extending financing for that purchase. It supports the full transaction lifecycle, including credit application, underwriting, real-time allocation to our Bank Partners, document distribution, funding, settlement and servicing. Merchants using our platform, which presently range from small, owner-operated home improvement contractors and healthcare providers to large national home improvement brands and retailers and healthcare service organizations, rely on us to facilitate low or deferred interest promotional point-of-sale financing and payments solutions that enable higher sales volume. Consumers on our platform, who to date primarily have super-prime or prime credit scores, find financing with promotional terms to be an attractive alternative to other forms of payment. Our Bank Partners' access to our proprietary technology solution and merchant network enables them to build a diversified portfolio of high quality consumer loans with attractive risk-adjusted yields with minimal upfront investment. GreenSky, Inc. was formed as a Delaware corporation on July 12, 2017. The Company was formed for the purpose of completing an initial public offering ("IPO") of its Class A common stock and certain Reorganization Transactions, as further described below, in order to carry on the business of GreenSky Holdings, LLC (“GS Holdings”) and its consolidated subsidiaries. GS Holdings, a holding company with no operating assets or operations, was organized in August 2017. On August 24, 2017, GS Holdings acquired a 100% interest in GreenSky, LLC ("GSLLC"), a Georgia limited liability company, which is an operating entity. Common membership interests of GS Holdings are referred to as "Holdco Units." Immediately prior to our IPO, (i) the operating agreement of GS Holdings (the "GS Holdings Agreement") was amended and restated to, among other things, modify its capital structure by replacing the different classes of membership interests and profits interests with Holdco Units; (ii) we issued to each of the Continuing LLC Members (as defined below) a number of shares of GreenSky, Inc. Class B common stock equal to the number of Holdco Units held by it (other than the Holdco Units that were exchanged in connection with the IPO), for consideration in the amount of $0.001 per share of Class B common stock; (iii) certain Holdco Units were contributed to GreenSky, Inc. in exchange for shares of our Class A common stock; (iv) equity holders of the Former Corporate Investors (as defined below) contributed their equity in the Former Corporate Investors to GreenSky, Inc. in exchange for shares of our Class A common stock and the right to certain payments under the Tax Receivable Agreement ("TRA"), and Former Corporate Investors merged with and into subsidiaries of GreenSky, Inc.; (v) outstanding options to acquire Class A units of GS Holdings were equitably adjusted so that they are exercisable for shares of Class A common stock; and (vi) outstanding warrants to acquire Class A units of GS Holdings were equitably adjusted pursuant to their terms so that they are exercisable for Holdco Units (and an equal number of shares of Class B common stock). We refer to these transactions collectively as the "Reorganization Transactions." Following the Reorganization Transactions, the "Original GS Equity Owners" (other than the Former Corporate Investors) and certain "Original Profits Interests Holders," which we collectively refer to as the "Continuing LLC Members," continue to own Holdco Units. "Original GS Equity Owners" refers to the owners of units of GS Holdings prior to the Reorganization Transactions. "Former Corporate Investors" refers to certain of the Original GS Equity Owners that merged with and into one or more subsidiaries of GreenSky, Inc. in connection with the Reorganization Transactions, which was accounted for as a common control transaction and had no material impact on the net assets of the Company. "Original Profits Interests Holders" refers to the owners of profits interests in GS Holdings prior to the Reorganization Transactions. On May 24, 2018, the Company's Class A common stock commenced trading on the Nasdaq Global Select Market in connection with its IPO of 43,700,000 shares of its Class A common stock at a public offering price of $23.00 per share, receiving approximately $954.8 million in net proceeds, after deducting underwriting discounts and commissions (but not including other offering costs), which were used to purchase 2,426,198 shares of Class A common stock and 41,273,802 newly-issued Holdco Units at a price per unit equal to the price per share of Class A common stock sold in the IPO, less underwriting discounts and commissions. The newly-issued Holdco Units were sold by Continuing LLC Members, which we also refer to as "Exchanging Members." Pursuant to an "Exchange Agreement," the Continuing LLC Members can exchange their Holdco Units (with automatic cancellation of an equal number of shares of Class B common stock) for shares of our Class A common stock on a one-for-one basis, subject to customary adjustments, or for cash (based on the market price of the shares of Class A common stock), at our option (such determination to be made by the disinterested members of our board of directors). The IPO and Reorganization Transactions resulted in the Company becoming the sole managing member of GS Holdings. As the sole managing member of GS Holdings, we operate and control all of GS Holdings’ operations and, through GS Holdings and its subsidiaries, conduct GS Holdings’ business. The Company consolidates the financial results of GS Holdings and reports a noncontrolling interest in its Consolidated Financial Statements representing the GS Holdings interests held by the Continuing LLC Members. The weighted average ownership percentages for the applicable reporting periods are used to attribute net income and other comprehensive income (loss) to the Company and the noncontrolling interest. As of December 31, 2019 and 2018, the Company had an economic interest in GS Holdings of 36.9% and 30.0%, respectively. During the year ended December 31, 2019 and 2018, the Company had a weighted average ownership interest in GS Holdings of 34.6% and 31.2%, respectively. Summary of Significant Accounting Policies Basis of Presentation The Consolidated Financial Statements were prepared in conformity with United States generally accepted accounting principles ("GAAP"). In the opinion of management, the Consolidated Financial Statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair statement of our financial condition and results of operations for the periods presented. All intercompany balances and transactions are eliminated upon consolidation. As the Reorganization Transactions were considered to be among entities under common control resulting in a change in the reporting entity, we retrospectively adjusted the historical Consolidated Financial Statements of GS Holdings as if the common control transaction had occurred as of the earliest period presented. As of and for the year ended December 31, 2019, we created distinct financial statement line items in our Consolidated Financial Statements associated with the contingent component of our financial guarantee as follows: (i) Financial guarantee liability in the Consolidated Balance Sheets (previously presented within other liabilities); (ii) Financial guarantee expense in the Consolidated Statements of Operations (previously presented within general and administrative expense); and (iii) Financial guarantee losses (gains) as an adjustment to reconcile net income to net cash provided by operating activities in the Consolidated Statements of Cash Flows (previously presented within the increase (decrease) in other liabilities). The classification of the financial guarantee liability of $626 as of December 31, 2018, the classification of the financial guarantee expense for the years ended December 31, 2018 and 2017 of $1,607 and $2,781, respectively, and the classification of the financial guarantee losses (gains) for the years ended December 31, 2018 and 2017 of $(94) and $47, respectively, were changed to conform to the current year presentation. Use of Estimates The preparation of our financial statements in conformity with GAAP requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates and assumptions include, but are not limited to, those that relate to fair value measurements, financial guarantees, share-based compensation and income taxes. In developing estimates and assumptions, management uses all available information; however, actual results could materially differ from those estimates and assumptions. Cash and Cash Equivalents Cash includes non-interest and interest-bearing demand deposit accounts with various financial institutions. Cash equivalents include money market mutual fund accounts, which are invested in government securities. We consider all highly liquid investments that mature three months or less from the date of purchase to be cash equivalents. The carrying amounts of our cash equivalents approximate their fair values due to their short maturities and highly liquid nature. Refer to Note 3 for additional information. At times, our cash balances may exceed federally insured amounts and potentially subject the Company to a concentration of credit risk. The Company believes that no significant concentration of credit risk exists with respect to these balances based on its assessment of the creditworthiness and financial viability of these financial institutions. Further, our cash equivalents may expose us to credit risk; however, we believe this risk is limited, as the investments are backed by the full faith and credit of the United States government. Restricted Cash Restricted cash primarily consists of interest-bearing escrow accounts that are required under the terms of the contracts with our Bank Partners. Restricted cash is typically comprised of three components: (i) amounts we have escrowed with Bank Partners as limited protection to the Bank Partners in the event of excess Bank Partner portfolio credit losses; (ii) additional amounts we maintain for certain Bank Partners based on a contractual percentage of the total interest billed on outstanding deferred interest loans that are within the promotional period less previous finance charge reversal ("FCR") settlements on such outstanding loans; and (iii) certain custodial in-transit loan funding and consumer borrower payments that we are restricted from using for our operations. These custodial balances are not considered in our evaluation of restricted cash usage. As it relates to our restricted cash escrowed with Bank Partners, we record a liability for the amount of restricted cash we expect to be payable to our Bank Partners, which is accounted for as a financial guarantee. Refer to Note 14 for additional information. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total included within the Consolidated Statements of Cash Flows as of the dates indicated. December 31, 2019 2018 2017 Cash and cash equivalents $ 195,760 $ 303,390 $ 224,614 Restricted cash 250,081 155,109 129,224 Cash and cash equivalents and restricted cash in Consolidated Statements of Cash Flows $ 445,841 $ 458,499 $ 353,838 Loan Receivables Held for Sale Loan receivables held for sale represent a 100% participating interest in the loan products that our Bank Partners originate and the Company subsequently purchases the receivable with the intent to sell to a third party at carrying value. Loan receivables held for sale are recorded at fair value at the time a loan receivable is purchased and are subsequently measured at the lower of cost or fair value on an aggregate homogeneous portfolio basis, which is further discussed in “Fair Value of Assets and Liabilities” below. We earn interest income on such loan receivables. Interest, calculated as a percentage of average outstanding principal balance in accordance with the contractual provisions of the loan arrangements, is accrued on a daily basis and collected from the account holder on a monthly basis. Accrued interest receivable and origination costs are deferred in the basis of the loan receivables. When the loan receivables are sold, any previously unrecognized deferred costs are recognized as part of realized gains and losses on sale. Gains and losses from the sale of loan receivables held for sale are included within other income (expense), net in the Consolidated Statements of Operations. We typically retain an economic interest in the sold loan receivables in the form of servicing rights and obligations. The entire balance of a loan receivable held for sale is considered contractually delinquent if the minimum required payment is not received by the first statement cycle date equal to or following the due date specified on the customer’s billing statement. Loan receivables held for sale and accrued interest are marked down to zero and written off when the principal or interest is delinquent for greater than 90 days, with the related expenses recorded as reductions of other gains (losses) and interest income, respectively, which are included within other income (expense), net in the Consolidated Statements of Operations. Valuation adjustments are also taken if loans delinquent less than 90 days are expected to charge off in the future and are recorded to other gains (losses) in the Consolidated Statements of Operations. Recoveries of principal and interest and fees on previously written off loan receivables held for sale are recognized on a collected basis as other gains (losses) and interest income, respectively. At times, we transfer our rights to previously charged-off loan receivables ("Charged-Off Receivables") and receive commensurate proceeds based on the expected recovery rate of such loan receivables. We have no continuing involvement with these Charged-Off Receivables other than performing reasonable servicing and collection efforts on behalf of the third parties and Bank Partners that paid for the rights to the Charged-Off Receivables. The proceeds from the transfers of Charged-Off Receivables attributable to loan receivables held for sale are recognized on a collected basis as other gains (losses) in the Consolidated Statements of Operations. Refer to "Servicing Assets and Liabilities" and "Fair Value of Assets and Liabilities" below for additional information on our Charged-Off Receivables transactions. Accounts Receivable Accounts receivable are recorded at their original invoice amounts, which are reduced by any allowance for uncollectible amounts. We establish an allowance for uncollectible amounts when management determines that collectability is uncertain. Accounts receivable are written off once delinquency exceeds 90 days. Recoveries of previously written off accounts receivable are recognized on a collected basis as a reduction to the provision for bad debt expense, which is included within general and administrative expense in the Consolidated Statements of Operations. Property, Equipment, Software, Depreciation and Amortization Property, equipment and software includes furniture, leasehold improvements, computer hardware and software and is stated at cost less accumulated depreciation or amortization and any previously recorded impairment. We capitalize qualified costs incurred to develop internal-use software, which primarily include internal and external labor expenses. We also capitalize costs for replacements and major enhancements when it is probable that the expenditures will result in additional functionality or will extend the useful life of existing functionality. Costs for minor replacements, enhancements, maintenance and repairs of internal-use software are expensed as incurred. Depreciation and amortization are recorded on a straight-line basis over the estimated useful lives of the assets, as follows: Asset Category Estimated Useful Lives Computer hardware and software 3 years Furniture 5 years Leasehold improvements Shorter of life of asset or remaining lease term Upon a sale or retirement, the asset cost and related accumulated depreciation or amortization are removed from the Consolidated Balance Sheets and any related gain or loss is included within general and administrative expense in the Consolidated Statements of Operations. We evaluate the carrying amounts of property, equipment and software for impairment on a quarterly basis or whenever events or changes in circumstances indicate that the carrying values may not be recoverable. Impairment losses are included within general and administrative expense in the Consolidated Statements of Operations. Servicing Assets and Liabilities The Company assumes a right, obligation, or neither a right nor obligation to service consumer loans each time a loan is originated by a Bank Partner. Additionally, the Company services Charged-Off Receivables for which we do not charge a servicing fee. The Company identified Bank Partner loans as one class of servicing rights and Charged-Off Receivables as a separate class of servicing rights. In accordance with Accounting Standards Codification ("ASC") 860, Transfers and Servicing , when we determine that the compensation we receive to service loans is more or less than adequate, we assess the fair value of a servicing asset or liability, respectively, using a discounted cash flow model. We elected the fair value method to measure each class of servicing rights subsequent to initial recognition, as we believe that fair value is a more meaningful measure of our expected right or obligation with respect to these classes of servicing assets or liabilities, respectively. This election is irrevocable for these classes of servicing assets or liabilities. As of December 31, 2019, the servicing asset associated with Bank Partner loans is recorded within other assets in the Consolidated Balance Sheets. The fair value of this class of servicing rights was immaterial as of December 31, 2018. As of December 31, 2019 and 2018, the servicing liability associated with Charged-Off Receivables is recorded within other liabilities in the Consolidated Balance Sheets. Refer to "Fair Value of Assets and Liabilities" below and Note 3 for additional information on the measurement of these assets and liabilities. Fair Value of Assets and Liabilities We have financial assets and liabilities subject to fair value measurement or disclosure on either a recurring or nonrecurring basis. Such measurements or disclosures relate to our cash and cash equivalents, loan receivables held for sale, derivative instruments, servicing assets and liabilities, and term loan. ASC 820, Fair Value Measurement , defines fair value 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. In valuing this asset or liability, we utilize market data or reasonable assumptions that market participants would use, including assumptions about risk and the risks inherent in the inputs to the valuation technique. The guidance provides a three-level valuation hierarchy for disclosure of fair value measurements based on the transparency of inputs to the valuation of an asset or a liability as of the measurement date. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are defined as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3: Unobservable inputs for the asset or liability. An asset’s or a liability’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. We apply the market approach, which uses observable prices and other relevant information that is generated by market transactions involving identical or comparable assets or liabilities, to value our cash and cash equivalents and loan receivables held for sale. We apply the income approach, which uses valuation techniques to convert future amounts to a single, discounted present value amount, to value our finance charge reversal liability and servicing assets and liabilities. We determine the fair values of our interest rate swap and term loan by applying a discounted cash flow model based on observable market factors and credit factors specific to us. Refer to Note 3 for additional fair value disclosures. Derivative Instruments We are exposed to interest rate risk on our variable-rate term loan, which we manage by entering into an interest rate swap that is determined to be a derivative in accordance with ASC 815, Derivatives and Hedging . Derivatives are recorded on the balance sheet at fair value and are marked-to-market on a quarterly basis. The accounting for the change in fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate the derivative as a hedge and apply hedge accounting, and whether the hedging relationship continues to satisfy the criteria required to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in cash flows of a recognized asset or liability that is attributable to a particular risk are considered cash flow hedges. The primary purpose of cash flow hedge accounting is to link the income statement recognition of a hedging instrument and a hedged item whose changes in cash flows are expected to offset each other. The change in the fair value of the derivative instrument designated as a cash flow hedge is initially reported as a component of other comprehensive income (loss) and subsequently reclassified into earnings in the same period when the hedged item affects earnings. The reclassification into earnings is reported in the same income statement line item in which the hedged item is reported. The FCR component of our Bank Partner contracts qualifies as an embedded derivative. The FCR liability is not designated as a hedge for accounting purposes and, as such, changes in its fair value are recorded within cost of revenue in the Consolidated Statements of Operations. Refer to Note 3 and Note 8 for additional derivative disclosures. Revenue Recognition In accordance with ASC 606, Revenue from Contracts with Customers , in each of our revenue arrangements outlined below, revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Transaction revenue Transaction fees We earn a specified transaction fee in connection with purchases made by borrowers that are financed by our Bank Partners. The transaction fee is a one-time fee payable by the merchant that includes a merchant fee component and an interchange fee component. In our merchant arrangements, our single performance obligation is to facilitate financing to the merchant’s qualified customers who comply with our Bank Partners’ mandatory underwriting criteria and credit policies. As it relates to our merchant arrangements, we act in the capacity of an agent, as our platform facilitates the arrangement between the merchant and customer (for contracted services) and the arrangement between the Bank Partner and customer (for loan financing) and we do not control either the merchant services or the financing prior to them being transferred to the customer. The merchant fee is calculated by multiplying a set fee percentage (as outlined in a schedule provided to the merchants) by the dollar amount of a loan at the point of origination. As merchant fees are billed to, and collected directly from, the merchant at least monthly, the transaction volume is known and there is no unresolved variable consideration as of the end of a reporting period. We recognize revenue at the point of sale by applying the expected value method, wherein we assign 100% probability to the transaction price as calculated using actual transaction volume. While merchant fee reversals are contractually possible, and would constrain our estimate of variable consideration, they have been historically immaterial. Therefore, we have not recognized a refund liability for these reversals. Our expected value is further adjusted during the month for rebates or price concessions (collectively, "price concessions"), as discussed below. Gross contractual merchant fees may be reduced by volume-based or non-volume-based price concessions to certain merchants and channel partners (which we refer to as "Sponsors"), which are offered to generate transaction volume on the GreenSky platform. As an agent, we recognize merchant fees net of consideration paid to merchants or Sponsors in the form of price concessions, which represents our expected consideration. The price concessions give rise to additional variable consideration at contract inception, which we estimate at the individual merchant level using the expected value method. For merchants and Sponsors receiving monthly or quarterly price concessions, which constitutes the vast majority of our arrangements, it is not probable that a significant reversal in the cumulative amount of revenue recognized would occur, as the uncertainty is resolved by the end of a reporting period. Therefore, the transaction price is not significantly constrained and we assign 100% probability to the transaction price as calculated using actual transaction volume net of actual merchant and Sponsor price concessions. In the limited instances in which we issue annual price concessions, which are based on an annual volume target, we determine the expected value based on quarterly progress and expected future progress (using historical experience) toward achieving the annual volume target. Volume-based price concessions to merchants and Sponsors that were netted against the gross transaction price were $14,805, $9,965, and $6,930 for the years ended December 31, 2019, 2018 and 2017, respectively. Interchange fees are calculated by multiplying a set fee percentage (as stipulated by the credit card payment network) by the transaction volume processed through such network. Transaction volume and related fees payable to the Company are reported to us on a daily basis. Therefore, there is no unresolved variable consideration within a reporting period. Using the expected value method, we assign 100% probability to the transaction price as calculated using actual transaction volume. We satisfy our performance obligation to facilitate financing to our merchants’ qualified customers continuously throughout our contractual terms with our Bank Partners. Our merchants receive and consume the benefits of such performance simultaneously as we perform, which is reflected through the consummation of a purchase by the end customer who obtained financing through the GreenSky platform. Therefore, this performance obligation is satisfied over time and no significant financing component is present, as payment occurs within twelve months of the transfer of control of the related service. Our performance obligation is completely satisfied once a customer’s application has been approved, a credit decision has been reached and a loan has been funded and processed, indicating that a sale has been completed by a merchant on our platform. We measure our progress toward complete satisfaction of this performance obligation using the output method and applying the "right-to-invoice" practical expedient, with transaction volume representing the direct measure that faithfully depicts a completed sale by a merchant on our platform. The value of our service transferred to the merchants is represented by the merchant fee rate, as agreed upon at contract inception, and the interchange fee rate, as stipulated by the credit card payment network. Therefore, we recognize revenue on at least a monthly basis for merchant fees and on a daily basis for interchange fees. We apply the practical expedient related to incremental costs of obtaining a contract. Although certain of our commission costs qualify for capitalization under ASC 340-40, Contracts with customers , their amortization period is less than one year. Therefore, utilizing the practical expedient, we expense these costs as incurred. Servicing and other Servicing fees Servicing fees are contractual fees specified in our servicing agreements with our Bank Partners that are earned from providing professional services to manage loan portfolios on behalf of our Bank Partners, which represents the single performance obligation in this contractual arrangement. The servicing fee is calculated on a monthly basis by multiplying a set fee percentage (as outlined in the contracts with our Bank Partners) by the average outstanding Bank Partner loan portfolio balance. As the average outstanding loan portfolio balance is not known at contract inception, this arrangement contains variable consideration. However, as servicing fees are settled monthly with our Bank Partners, the average outstanding loan portfolio balance is known at each month end. Therefore, the variable consideration within a reporting period is not significantly constrained. Using the expected value method, we assign 100% probability to the transaction price as calculated using the actual average outstanding loan portfolio balance. We satisfy our performance obligation to service the Bank Partners’ loans on a recurring, monthly basis for as long as a loan balance is outstanding. The benefits of our servicing are simultaneously received and consumed by the Bank Partners. Therefore, this performance obligation is satisfied over time and no significant financing component is present, as payment occurs within twelve months of the transfer of control of the related service. We measure our progress toward complete satisfaction of this performance obligation using the output method and applying the "right-to-invoice" practical expedient, with loans outstanding representing the direct measure that faithfully depicts the loans for which control of servicing has transferred to the Bank Partners. The value of our service transferred to the Bank Partners is represented by the servicing fee rate, as agreed upon at contract inception. Therefore, we recognize revenue on a monthly basis upon settling with the Bank Partner. Disaggregated revenue Revenue disaggregated by type of service was as follows for the periods presented: Year Ended December 31, 2019 2018 2017 Merchant fees $ 361,755 $ 297,776 $ 234,548 Interchange fees 44,150 51,128 44,410 Transaction fees 405,905 348,904 278,958 Servicing fees (1) 123,697 65,597 46,575 Other (2) 44 172 354 Servicing and other 123,741 65,769 46,929 Total revenue $ 529,646 $ 414,673 $ 325,887 (1) For the year ended December 31, 2019, includes a $30,459 change in fair value of our servicing asset primarily associated with increases to the contractually specified fixed servicing fees for certain B

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic earnings per share of Class A common stock is computed by dividing net income attributable to GreenSky, Inc. by the weighted average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to GreenSky, Inc., adjusted for the assumed exchange of all potentially dilutive Holdco Units for Class A common stock, by the weighted average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive elements. Prior to the IPO, the GS Holdings membership structure included Class A, B and C Units and profits interests. The Company analyzed the calculation of earnings per unit for periods prior to the IPO and determined that it resulted in values that would not be meaningful to the users of these Consolidated Financial Statements. Therefore, earnings per share information for the year ended December 31, 2018 represents only the period from May 24, 2018 to December 31, 2018, the period wherein we had outstanding Class A common stock. Earnings per share information has not been presented for the year ended December 31, 2017. The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock for the periods indicated. Year Ended December 31, 2019 2018 Numerator: Income before income tax expense (benefit) $ 88,848 $ 133,514 Less: Net income attributable to GS Holdings prior to Reorganization Transactions — 38,213 Less: Net income attributable to noncontrolling interests after Reorganization Transactions 63,993 65,511 Less: Income tax expense (benefit) (7,125) 5,534 Net income attributable to GreenSky, Inc. – basic $ 31,980 $ 24,256 Add: Reallocation of net income attributable to noncontrolling interests from the assumed exchange of Holdco Units for Class A common stock 63,993 65,511 Less: Income tax expense (benefit) on reallocation of net income attributable to noncontrolling interests (1) 8,189 12,784 Net income attributable to GreenSky, Inc. – diluted $ 87,784 $ 76,983 Denominator: Weighted average shares of Class A common stock outstanding – basic 61,091,514 57,008,324 Add: Dilutive effects, as shown separately below Holdco Units exchangeable for Class A common stock 116,223,055 127,939,939 Class A common stock options 1,876,876 2,984,196 Holdco warrants exchangeable for Class A common stock 82,008 808,961 Unvested Class A common stock (2) 174,592 163,521 Weighted average shares of Class A common stock outstanding – diluted 179,448,045 188,904,941 Earnings per share of Class A common stock outstanding – basic $ 0.52 $ 0.43 Earnings per share of Class A common stock outstanding – diluted $ 0.49 $ 0.41 Excluded from diluted earnings per share, as their inclusion would have been anti-dilutive (3) Unvested Holdco Units 510,878 — Class A common stock options 3,289,299 1,533,029 Unvested Class A common stock 2,040,965 134,170 (1) We assumed effective tax rates of 1.2% and 19.2% for the years ended December 31, 2019 and 2018, respectively, which represent the effective tax rates on the consolidated GreenSky, Inc. entity inclusive of the income taxes on the portion of GS Holdings' earnings that are attributable to noncontrolling interests. The rate for the year ended December 31, 2019 is reflective of the tax benefits from remeasurement of net deferred tax assets, warrant exercises and stock-based compensation deductions. (2) Includes both unvested Class A common stock issued as part of the Reorganization Transactions and unvested Class A common stock awards issued subsequent to the Reorganization Transactions. (3) These amounts represent the number of instruments outstanding at the end of the period. Application of the treasury stock method would reduce these amounts if they had a dilutive effect and were included in the computation of diluted earnings per share. Shares of the Company’s Class B common stock do not participate in the earnings or losses of the Company and, therefore, are not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been included.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities The following table summarizes, by level within the fair value hierarchy, the carrying amounts and estimated fair values of our assets and liabilities measured at fair value on a recurring or nonrecurring basis or disclosed, but not carried, at fair value in the Consolidated Balance Sheets as of the dates presented. There were no transfers into, out of, or between levels within the fair value hierarchy during any of the periods presented. Refer to Note 4, Note 7, Note 8, and Note 9 for additional information on these assets and liabilities. Level December 31, 2019 December 31, 2018 Carrying Fair Carrying Fair Assets: Cash and cash equivalents (1) 1 $ 195,760 $ 195,760 $ 303,390 $ 303,390 Loan receivables held for sale, net (2) 2 51,926 55,958 2,876 3,552 Servicing assets (3) 3 30,459 30,459 — — Liabilities: Finance charge reversal liability (3) 3 $ 206,035 $ 206,035 $ 138,589 $ 138,589 Term loan (1) 2 384,497 392,201 386,822 386,234 Interest rate swap (3) 2 2,763 2,763 — — Servicing liabilities (3) 3 3,796 3,796 3,016 3,016 (1) Disclosed, but not carried, at fair value. (2) Measured at fair value on a nonrecurring basis. (3) Measured and carried at fair value on a recurring basis. Cash and cash equivalents Cash and cash equivalents are classified within Level 1 of the fair value hierarchy, as the primary component of the price is obtained from quoted market prices in an active market. The carrying amounts of our cash and cash equivalents approximate their fair values due to the short maturities and highly liquid nature of these accounts. Loan receivables held for sale, net Loan receivables held for sale are recorded in the Consolidated Balance Sheets at the lower of cost or fair value and, therefore, are measured at fair value on a nonrecurring basis. For our loan receivables held for sale, fair value approximates par value, as we have consistently sold loans for the full current balance in historical and current period transactions with our Bank Partners. Loan receivables held for sale are classified within Level 2 of the fair value hierarchy, as the primary component of the price is obtained from observable values of loan receivables with similar terms and characteristics as the loan receivables sold to our Bank Partners. We have the ability to access this market, and it is the market into which these loan receivables are typically sold. Interest rate swap In June 2019, we entered into a $350.0 million notional, four observable and do not contain a high level of subjectivity. The fair value was determined based on the present value of the estimated future net cash flows using implied rates in the applicable yield curve as of the valuation date. Finance charge reversal liability Our Bank Partners offer certain loan products that have a feature whereby the account holder is provided a promotional period to repay the loan principal balance in full without incurring a finance charge. For these loan products, we bill interest each month throughout the promotional period and, under the terms of the contracts with our Bank Partners, we are obligated to pay this billed interest to the Bank Partners if an account holder repays the loan balance in full within the promotional period. Therefore, the monthly process of billing interest on deferred loan products triggers a potential future finance charge reversal ("FCR") liability for the Company. The FCR component of our Bank Partner contracts qualifies as an embedded derivative. The FCR liability is not designated as a hedge for accounting purposes and, as such, changes in its fair value are recorded within cost of revenue in the Consolidated Statements of Operations. The FCR liability is carried at fair value on a recurring basis in the Consolidated Balance Sheets and is estimated based on historical experience and management’s expectation of future FCR. The FCR liability is classified within Level 3 of the fair value hierarchy, as the primary component of the fair value is obtained from unobservable inputs based on the Company’s data, reasonably adjusted for assumptions that would be used by market participants. The following table reconciles the beginning and ending fair value measurements of our FCR liability during the periods indicated. Year Ended December 31, 2019 2018 2017 Beginning balance $ 138,589 $ 94,148 $ 68,064 Receipts (1) 159,527 129,153 109,818 Settlements (2) (262,449) (181,590) (127,029) Fair value changes recognized in cost of revenue (3) 170,368 96,878 43,295 Ending balance $ 206,035 $ 138,589 $ 94,148 (1) Includes: (i) incentive payments from Bank Partners, which is the surplus of finance charges billed to borrowers over an agreed-upon portfolio yield, a fixed servicing fee and realized net credit losses, (ii) cash received from recoveries on previously charged-off Bank Partner loans, and (iii) the proceeds received from transferring our rights to Charged-Off Receivables attributable to previously charged-off Bank Partner loans. We consider all monthly incentive payments from Bank Partners during the period to be related to billed finance charges on deferred interest products until monthly incentive payments exceed total billed finance charges on deferred products, which did not occur during any of the periods presented. (2) Represents the reversal of previously billed finance charges associated with deferred payment loan principal balances that were repaid within the promotional period. (3) A fair value adjustment is made based on the expected reversal percentage of billed finance charges (expected settlements), which is estimated at each reporting date. The fair value adjustment is recognized in cost of revenue in the Consolidated Statements of Operations. Significant assumptions used in valuing our FCR liability include the following: Reversal rate: The reversal rate represents our estimate of the percentage of previously billed interest on deferred loan products that we expect we will be obligated to remit to the Bank Partners due to the account holder paying off the loan balance in full within the promotional period. As we have expanded our deferred loan products and as our historical experience with these products has progressed, management has developed more specific reversal rates for categories of deferred loan products based on the length of the interest-free promotional period (ranging from 6 to 24 months), whether or not loan principal payments were required to be paid during the interest-free promotional period, and the industry vertical (home improvement or elective healthcare). This has resulted in incremental increases in the number of reversal rate assumptions used to value the FCR liability. The historical period over which we evaluate reversal rates may also vary among the categories of deferred loan products based on the length and relevance of our historical experience with such products at the measurement date. The overall decrease in reversal rates is primarily attributable to lower reversal rate experience on loans within the elective healthcare industry vertical. Discount rate : The discount rate reflects the time value of money adjusted for a risk premium. The following table presents quantitative information about the significant unobservable inputs used to value the Level 3 FCR liability as of the dates presented. December 31, 2019 December 31, 2018 Range Weighted Average Range Weighted Average Reversal rate 60.0 – 96.8% 87.5 % 70.0 – 97.3% 88.2 % Discount rate 5.2 % 5.2 % 6.1 % 6.1 % The reversal rate weighted averages were calculated by first determining the percentage of the reporting date FCR liability attributable to each category of deferred loan products for which a reversal rate assumption was determined. We then multiplied these weights by the unique reversal rate for each category and summed the resulting products. A significant increase or decrease in the estimated reversal rates could result in a significantly higher or lower, respectively, calculation of our expected future payments to our Bank Partners, resulting in a higher or lower, respectively, fair value measurement of our FCR liability. A significant increase or decrease in the discount rate could result in a lower or higher, respectively, fair value measurement of our FCR liability. Charged-Off Receivables Periodically, we transfer our rights to Charged-Off Receivables in exchange for a cash payment based on the expected recovery rate of such loan receivables, which consist primarily of previously charged-off Bank Partner loans. We have no continuing involvement with these Charged-Off Receivables other than performing reasonable servicing and collection efforts on behalf of the third parties and Bank Partners that purchased the Charged-Off Receivables. The proceeds from transfers of Charged-Off Receivables attributable to Bank Partner loans are recognized on a collected basis as reductions to cost of revenue, which reduces the fair value adjustment to the FCR liability in the period of transfer. The following table presents details of Charged-Off Receivables transfers during the periods indicated. Aggregate Unpaid Balance Proceeds Bank Partner Loan Total (1) Bank Partner Loan Total Year Ended December 31, 2019 $ 223,024 $ 2,518 $ 225,542 $ 29,190 $ 312 $ 29,502 Year Ended December 31, 2018 201,517 3,263 204,780 26,692 431 27,123 Year Ended December 31, 2017 197,114 4,165 201,279 18,968 406 19,374 (1) During the years ended December 31, 2019, 2018 and 2017, $22,245, $14,940 and $2,966, respectively, of the aggregate unpaid balance on cumulative transferred Charged-Off Receivables were recovered through our servicing efforts on behalf of our Charged-Off Receivables investors. Term loan The carrying value of our term loan is net of unamortized debt discount and debt issuance costs. The fair value of our term loan was determined using a discounted cash flow model based on observable market factors (such as changes in credit spreads for comparable benchmark companies) and credit factors specific to us. The fair value of our term loan is classified within Level 2 of the fair value hierarchy, as the inputs to the discounted cash flow model are generally observable and do not contain a high level of subjectivity. Servicing assets and liabilities We previously elected the fair value method to account for our servicing assets and liabilities to more appropriately reflect the value of the servicing rights in our Consolidated Financial Statements. As a result of this election, our servicing assets and liabilities are carried at fair value on a recurring basis within other assets and other liabilities, respectively, in the Consolidated Balance Sheets and are estimated using a discounted cash flow model. Servicing assets and liabilities are classified within Level 3 of the fair value hierarchy, as the primary components of the fair value are obtained from unobservable inputs based on peer market data, reasonably adjusted for assumptions that would be used by market participants to service our Bank Partner loans and transferred Charged-Off Receivables portfolios, for which market data is not available. Changes in the fair value of our servicing assets are recorded within servicing and other revenue and changes in the fair value of our servicing liabilities are recorded within other gains (losses), net in the Consolidated Statements of Operations. Contractually specified servicing fees recorded within servicing and other revenue in the Consolidated Statements of Operations totaled $93,238, $65,597 and $46,575 for the years ended December 31, 2019, 2018 and 2017, respectively. The cash flow impacts of our assets and liabilities that are measured at fair value on a recurring basis are included within net cash provided by operating activities in the Consolidated Statements of Cash Flows. During the year ended December 31, 2019, we renegotiated certain Bank Partner agreements where the Company agreed to post additional escrow and increase the agreed-upon Bank Partner portfolio yield. In exchange for these considerations, we received an increase in our loan servicing fees from the Bank Partners. We determined that the increase in servicing fees resulted in an increase to the fair value of our servicing assets for these Bank Partners. We also anticipate that, all other factors remaining constant, these increased servicing fees will contribute to lower incentive payments received in future periods from the Bank Partners. The following table reconciles the beginning and ending fair value measurements of our servicing assets associated with Bank Partner loans during the period presented. We did not have any servicing assets for the years ended December 31, 2018 and 2017. Year Ended Beginning balance $ — Additions, net (1) 5,975 Fair value changes recognized in servicing and other revenue (2) 24,484 Ending balance $ 30,459 (1) Includes additions through assumptions of servicing obligations each time a loan is originated on our platform by a Bank Partner, as well as through transfers of loans between Bank Partners or of loan receivables between GreenSky and Bank Partners. Additions are recognized in servicing and other revenue in the Consolidated Statements of Operations. (2) Primarily reflective of increases to the contractually specified fixed servicing fees for certain Bank Partners, which may also contribute to lower incentive payments received in future periods. The following table reconciles the beginning and ending fair value measurements of our servicing liabilities associated with transferring our rights to Charged-Off Receivables during the periods presented. Year Ended December 31, 2019 2018 2017 Beginning balance $ 3,016 $ 2,071 $ — Initial obligation from transfer of Charged-Off Receivables (1) 2,705 2,461 2,379 Fair value changes recognized in other gains (losses), net (2) (1,925) (1,516) (308) Ending balance $ 3,796 $ 3,016 $ 2,071 (1) Recognized in other gains (losses), net in the Consolidated Statements of Operations. (2) Represents the reduction of our servicing liabilities due to the passage of time and collection of loan payments. Significant assumptions used in valuing our servicing assets and liabilities include the following: Cost of servicing : The cost of servicing represents the servicing rate a willing market participant would require to service loans with similar characteristics as the Bank Partner loans or Charged-Off Receivables. The cost of servicing is weighted based on the outstanding balance of the loans. Discount rate : The discount rate reflects the time value of money adjusted for a risk premium and is within an observable range based on peer market data. Weighted average remaining life : For Bank Partner loans, the weighted average remaining life is determined using the aggregate curves for each loan product type based on expected cumulative annualized rates of prepayments and defaults. Recovery period : For Charged-Off Receivables, our recovery period was determined based on a reasonable recovery period for loans of these sizes and characteristics based on historical experience. We assumed that collection efforts for these loans will cease after five The following table presents quantitative information about the significant unobservable inputs used to value the Level 3 servicing assets and liabilities as of the dates presented. Input December 31, 2019 December 31, 2018 Range Weighted Average Range Weighted Average Cost of servicing (basis points) (1) 57.5 – 108.0 106.2 62.5 62.5 Discount rate 18.0 % 18.0 % 18.0 % 18.0 % Weighted average remaining life (years) 2.3 – 5.9 2.4 N/A N/A Recovery period (years) 2.6 – 4.9 4.1 3.6 – 4.9 4.3 (1) The cost of servicing assumption as of December 31, 2018 relates only to Charged-Off Receivables, as the fair value measurement of servicing rights associated with Bank Partner loans was immaterial. A significant increase or decrease in the market cost of servicing could have resulted in significantly lower or higher, respectively, servicing assets and higher or lower, respectively, servicing liabilities as of the measurement date. A significant increase or decrease in the discount rate could have resulted in lower or higher, respectively, servicing assets and liabilities as of the measurement date. However, as our weighted average remaining life of loans is relatively short, we would not expect significant changes in the discount rate to materially impact the fair value measure. The average remaining life is weighted by the unpaid balance of the Bank Partner loans as of the measurement date. The weighted average remaining life represents the period over which we expect to collect servicing fees on the Bank Partner loans and primarily changes based on expectations of loan prepayments and defaults. The change in expected prepayments and defaults has an inverse correlation with the weighted average remaining life. A significant increase or decrease in the expected weighted average remaining life could have resulted in significantly higher or lower servicing assets as of the measurement date. The recovery period is weighted by the unpaid balance of previously transferred Charged-Off Receivables as of the measurement date. The recovery period reflects the length of time over which we expect to perform servicing activities and has an inverse correlation with the amount by which the servicing liability is reduced each reporting period. As such, a significant increase or decrease in the expected recovery period could have resulted in higher or lower, respectively, servicing liabilities.

Loan Receivables Held for Sale

Loan Receivables Held for Sale	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Loan Receivables Held for Sale	Loan Receivables Held for Sale The following table summarizes the activity in the balance of loan receivables held for sale, net at lower of cost or fair value during the periods indicated. Year Ended December 31, 2019 2018 2017 Beginning balance $ 2,876 $ 73,606 $ 41,268 Additions 157,928 93,240 134,659 Proceeds from sales and borrower payments (1) (104,858) (161,009) (93,044) Loss on sale — — (500) Increase in valuation allowance (1,289) (92) (584) Transfers (2) 251 22 (5,017) Write offs and other (3) (2,982) (2,891) (3,176) Ending balance $ 51,926 $ 2,876 $ 73,606 (1) Includes accrued interest and fees, recoveries of previously charged-off loan receivables held for sale, as well as proceeds from transferring our rights to Charged-Off Receivables attributable to loan receivables held for sale. We retain servicing arrangements on sold loan receivables with the same terms and conditions as loans that are originated by our Bank Partners. Income from loan receivables held for sale activities is recorded within interest income and other gains (losses), net in the Consolidated Statements of Operations. We sold loan receivables held for sale to certain Bank Partners on the following dates during the years ended December 31: 2019 2018 2017 Date Amount Date Amount Date Amount March 27 $ 63,673 May 21 $ 9,552 June 29 $ 17,900 November 1 13,752 June 27 50,614 December 21 54,171 December 27 14,521 September 27 48,176 December 20 30,684 Total $ 91,946 $ 139,026 $ 72,071 (2) We temporarily hold certain loan receivables, which are originated by a Bank Partner, while non-originating Bank Partner eligibility is being determined. Once we determine that a loan receivable meets the investment requirements of an eligible Bank Partner, we transfer the loan receivable to the Bank Partner at cost plus any accrued interest. The reported amount also includes loan receivables that have been placed on non-accrual and non-payment status while we investigate consumer inquiries. (3) We received recovery payments of $50, $57 and $238 during the years ended December 31, 2019, 2018 and 2017, respectively. Recoveries of principal and finance charges and fees on previously written off loan receivables held for sale are recognized on a collected basis as other gains and interest income, respectively, in the Consolidated Statements of Operations. Separately, during the years ended December 31, 2019, 2018, and 2017, write offs and other were reduced by $312, $431, and $406, respectively, related to cash proceeds received from transferring our rights to Charged-Off Receivables attributable to loan receivables held for sale. The cash proceeds received were recorded within other gains (losses), net in the Consolidated Statements of Operations. The following table presents activities associated with our loan receivable sales and servicing activities during the periods indicated. Year Ended December 31, 2019 2018 2017 Gain (loss) on sold loan receivables held for sale $ — $ — $ (500) Cash Flows Sales of loans $ 91,946 $ 139,026 $ 72,071 Servicing fees 3,901 2,321 2,821 The following tables present information about sold loan receivables held for sale that are not recorded in our Consolidated Balance Sheets, but with which we have a continuing involvement through our servicing arrangements with our Bank Partners. The sold loan receivables held for sale are pooled with other loans originated by the Bank Partners for purposes of determining escrow balances and incentive payments. The escrow balances represent our only direct exposure to potential losses associated with these sold loan receivables. December 31, 2019 2018 Total principal balance $ 326,556 $ 357,060 Delinquent loans (unpaid principal balance) 18,033 23,385 Year Ended December 31, 2019 2018 2017 Net charge-offs (unpaid principal balance) $ 16,333 $ 11,355 $ 8,574 Accounts receivable consisted of the following as of the dates indicated. Accounts Allowance Accounts December 31, 2019 Transaction related $ 12,863 $ (238) $ 12,625 Servicing related 6,868 — 6,868 Total $ 19,731 $ (238) $ 19,493 December 31, 2018 Transaction related $ 14,704 $ (168) $ 14,536 Servicing related 864 — 864 Total $ 15,568 $ (168) $ 15,400

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Accounts Receivable	Loan Receivables Held for Sale The following table summarizes the activity in the balance of loan receivables held for sale, net at lower of cost or fair value during the periods indicated. Year Ended December 31, 2019 2018 2017 Beginning balance $ 2,876 $ 73,606 $ 41,268 Additions 157,928 93,240 134,659 Proceeds from sales and borrower payments (1) (104,858) (161,009) (93,044) Loss on sale — — (500) Increase in valuation allowance (1,289) (92) (584) Transfers (2) 251 22 (5,017) Write offs and other (3) (2,982) (2,891) (3,176) Ending balance $ 51,926 $ 2,876 $ 73,606 (1) Includes accrued interest and fees, recoveries of previously charged-off loan receivables held for sale, as well as proceeds from transferring our rights to Charged-Off Receivables attributable to loan receivables held for sale. We retain servicing arrangements on sold loan receivables with the same terms and conditions as loans that are originated by our Bank Partners. Income from loan receivables held for sale activities is recorded within interest income and other gains (losses), net in the Consolidated Statements of Operations. We sold loan receivables held for sale to certain Bank Partners on the following dates during the years ended December 31: 2019 2018 2017 Date Amount Date Amount Date Amount March 27 $ 63,673 May 21 $ 9,552 June 29 $ 17,900 November 1 13,752 June 27 50,614 December 21 54,171 December 27 14,521 September 27 48,176 December 20 30,684 Total $ 91,946 $ 139,026 $ 72,071 (2) We temporarily hold certain loan receivables, which are originated by a Bank Partner, while non-originating Bank Partner eligibility is being determined. Once we determine that a loan receivable meets the investment requirements of an eligible Bank Partner, we transfer the loan receivable to the Bank Partner at cost plus any accrued interest. The reported amount also includes loan receivables that have been placed on non-accrual and non-payment status while we investigate consumer inquiries. (3) We received recovery payments of $50, $57 and $238 during the years ended December 31, 2019, 2018 and 2017, respectively. Recoveries of principal and finance charges and fees on previously written off loan receivables held for sale are recognized on a collected basis as other gains and interest income, respectively, in the Consolidated Statements of Operations. Separately, during the years ended December 31, 2019, 2018, and 2017, write offs and other were reduced by $312, $431, and $406, respectively, related to cash proceeds received from transferring our rights to Charged-Off Receivables attributable to loan receivables held for sale. The cash proceeds received were recorded within other gains (losses), net in the Consolidated Statements of Operations. The following table presents activities associated with our loan receivable sales and servicing activities during the periods indicated. Year Ended December 31, 2019 2018 2017 Gain (loss) on sold loan receivables held for sale $ — $ — $ (500) Cash Flows Sales of loans $ 91,946 $ 139,026 $ 72,071 Servicing fees 3,901 2,321 2,821 The following tables present information about sold loan receivables held for sale that are not recorded in our Consolidated Balance Sheets, but with which we have a continuing involvement through our servicing arrangements with our Bank Partners. The sold loan receivables held for sale are pooled with other loans originated by the Bank Partners for purposes of determining escrow balances and incentive payments. The escrow balances represent our only direct exposure to potential losses associated with these sold loan receivables. December 31, 2019 2018 Total principal balance $ 326,556 $ 357,060 Delinquent loans (unpaid principal balance) 18,033 23,385 Year Ended December 31, 2019 2018 2017 Net charge-offs (unpaid principal balance) $ 16,333 $ 11,355 $ 8,574 Accounts receivable consisted of the following as of the dates indicated. Accounts Allowance Accounts December 31, 2019 Transaction related $ 12,863 $ (238) $ 12,625 Servicing related 6,868 — 6,868 Total $ 19,731 $ (238) $ 19,493 December 31, 2018 Transaction related $ 14,704 $ (168) $ 14,536 Servicing related 864 — 864 Total $ 15,568 $ (168) $ 15,400

Property, Equipment and Softwar

Property, Equipment and Software	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Equipment and Software	Property, Equipment and Software Property, equipment and software were as follows as of the dates indicated. December 31, 2019 2018 Furniture $ 2,907 $ 2,813 Leasehold improvements 4,902 4,171 Computer hardware 2,494 2,923 Software 20,126 8,344 Total property, equipment and software, at cost 30,429 18,251 Less: accumulated depreciation (5,701) (5,462) Less: accumulated amortization (6,419) (2,557) Total property, equipment and software, net $ 18,309 $ 10,232 The following table shows depreciation and amortization expense, as well as recorded impairment losses related to abandoned capitalized software projects that are recorded within general and administrative expense in the Consolidated Statements of Operations. We determined that these software projects would not generate future cash flows through use or disposal to a third party and, as such, the fair value as of the respective reporting dates was $0. Year Ended December 31, 2019 2018 2017 Depreciation expense $ 2,540 $ 2,320 $ 2,149 Amortization expense 4,764 2,158 1,834 Impairment losses — 19 78 The estimated future amortization of software is as follows as of the date indicated. December 31, 2019 2020 $ 6,196 2021 5,051 2022 2,460 Total $ 13,707

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Borrowings	Borrowings Credit Agreement In August 2017, we entered into a $450.0 million credit agreement ("Credit Agreement"), which provided for a $350.0 million term loan ("original term loan") maturing on August 25, 2024 and a $100.0 million revolving loan facility maturing on August 25, 2022. The net proceeds from the term loan of $338.6 million, along with $7.9 million of cash, were set aside for a subsequent $346.5 million payment (which is occurring in stages) to certain equity holders and a related party. With the exception of the payments to the related party, which were related party expenses, the payments were accounted for as distributions. The distribution to GS Holdings unit holders and GS Holdings holders of profits interests was made on a basis generally proportionate to their equity interests in GS Holdings. GS Holdings' members approved the Credit Agreement and the distribution of the proceeds of the original term loan to the GS Holdings unit holders, holders of profits interests and a related party. The purpose of the distribution was to provide a cash return on investment to the GS Holdings members and holders of profits interests. See Note 11 for distribution and payment details. Amended Credit Agreement In March 2018, we amended certain terms of our Credit Agreement ("Amended Credit Agreement"). The term loan and revolving loan facility under the Amended Credit Agreement are collectively referred to as the "Credit Facility." The Amended Credit Agreement replaced the original term loan with a $400.0 million term loan (“modified term loan”) and extended the maturity date to March 29, 2025. The modified term loan incurs interest, due monthly in arrears, at an adjusted LIBOR rate, which represents the one-month LIBOR rate multiplied by the statutory reserve rate, as defined in the Credit Agreement, plus a margin of 3.25% per annum. If not otherwise indicated, references to "term loan" prior to the date of the Amended Credit Agreement indicate the original term loan and references subsequent to the date of the Amended Credit Agreement indicate the modified term loan. We contemporaneously settled the outstanding principal balance on the original term loan of $349.1 million with the issuance of the $400.0 million modified term loan. An original issuance discount of $1.0 million was reported in the Consolidated Balance Sheets as a direct deduction from the face amount of the modified term loan. Therefore, the gross proceeds of the modified term loan were $399.0 million. The proceeds from the modified term loan were primarily used to repay the outstanding principal balance on the original term loan and to pay $1.2 million of third party costs, including legal and debt arrangement costs, which were immediately expensed and recorded within general and administrative expense in the Consolidated Statements of Operations on the modification date. The remaining $48.8 million of proceeds were used to provide for distributions to certain equity holders and a related party prior to the Company's IPO. With the exception of the payments to the related party, which are related party expenses, the payments were accounted for as distributions. See Note 11 for distribution and payment details. As of December 31, 2019 and 2018, we had no borrowings under the revolving loan facility. Key details of the term loan are as follows: December 31, 2019 2018 Term loan, face value (1) $ 393,000 $ 397,000 Unamortized debt discount (2) (3,115) (3,728) Unamortized debt issuance costs (2) (5,388) (6,450) Term loan $ 384,497 $ 386,822 (1) The principal balance of the term loan is scheduled to be repaid on a quarterly basis at an amortization rate of 0.25% per quarter through December 31, 2024, with the balance due at maturity. For each of the next five years, principal repayments on the term loan are expected to be $4,000. (2) For the years ended December 31, 2019 and 2018, debt discount of $613 and $593, respectively, and debt issuance costs of $1,062 and $1,091, respectively, were amortized into interest expense in the Consolidated Statements of Operations. Giving effect to the amortization of debt discount and debt issuance costs on the term loan, the effective interest rates were 5.95% and 5.99% during the years ended December 31, 2019 and 2018, respectively. Revolving loan facility. Under the Amended Credit Agreement, the maturity date of the $100.0 million revolving loan facility was extended to March 29, 2023. Further, the interest margin applied to revolving loans that incur interest at a base rate was modified to 2.00% per annum and the margin applied to revolving loans that incur interest at an adjusted LIBOR rate was modified to 3.00% per annum. However, if our first lien net leverage ratio is equal to or above 1.50 to 1.00, these interest margins are raised to 2.25% and 3.25%, respectively. As of December 31, 2019, we had no borrowings under the revolving loan facility. Lastly, the Amended Credit Agreement provided for a $10.0 million letter of credit, which, to the extent drawn upon, would reduce the amount of availability under the revolving loan facility by the same amount. We did not draw on our available letter of credit as of December 31, 2019. We are subject to a quarterly commitment fee based on the daily unused amount of the revolving loan facility, inclusive of the aggregate amount available to be drawn under letters of credit, of which $10.0 million was available, but unused, as of December 31, 2019. The quarterly commitment fee rate is 0.50% per annum when our first lien net leverage ratio is above 1.50 to 1.00, but is reduced to 0.375% for any quarterly period in which our first lien net leverage ratio is equal to or below 1.50 to 1.00. For the years ended December 31, 2019, 2018 and 2017, we recognized $348, $411 and $175, respectively, of commitment fees within interest expense in the Consolidated Statements of Operations. Interest Rate Swap In June 2019, we entered into an interest rate swap agreement to hedge changes in cash flows attributable to interest rate risk on $350.0 million of our variable-rate term loan. This interest rate swap was designated for accounting purposes as a cash flow hedge. See Note 8 for additional derivative disclosures. Covenants The Amended Credit Agreement contains certain financial and non-financial covenants with which we must comply. The financial covenant requires a first lien net leverage ratio equal to or below 3.50 to 1.00 for any measurement date at which the principal amounts of outstanding revolving loans and letters of credit exceed 25% of the aggregate principal amount of the revolving loan facility. The first lien net leverage ratio is calculated as the ratio of (i) the aggregate principal amount of indebtedness, minus the aggregate amount of consolidated cash (exclusive of restricted cash), as of the measurement date to (ii) consolidated EBITDA, as defined in the Amended Credit Agreement, for the four prior quarters. The non-financial covenants include, among other things, restrictions on indebtedness, liens, fundamental changes to the business (such as acquisitions, mergers, liquidations or changes in the nature of the business, asset dispositions, restricted payments, transactions with affiliates and other customary matters). The Amended Credit Agreement also includes various negative covenants, including one that restricts GS Holdings from making non-tax distributions unless certain financial tests are met. In general, GS Holdings is restricted from making distributions unless (a) after giving effect to the distribution it would have, as of a measurement date, a total net leverage ratio of no more than 3.00 to 1.00, and (b) the source of such distributions is retained excess cash flow, certain equity issuance proceeds and certain other sources. We were in compliance with all covenants, both financial and non-financial, as of December 31, 2019 and 2018. The Amended Credit Agreement defines events of default, the breach of which could require early payment of all borrowings under, and termination of, the Amended Credit Agreement or similar actions. Any borrowings under the Amended Credit Agreement are unconditionally guaranteed by our subsidiaries. Further, the lenders have a security interest in substantially all of the assets of GS Holdings and the other guarantors thereunder.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company does not hold or use derivative instruments for trading purposes. Derivative Instruments Designated as Hedges Interest rate fluctuations expose our variable-rate term loan to changes in interest expense and cash flows. As part of our risk management strategy, we may use interest rate derivatives, such as interest rate swaps, to manage our exposure to interest rate movements. In June 2019, we entered into a $350.0 million notional, four As of December 31, 2019, we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk. Notional Amount Fixed Interest Rate Termination Date Interest rate swap $ 350,000 1.80 % June 30, 2023 Derivative Instruments Not Designated as Hedges The FCR component of our Bank Partner contracts qualifies as an embedded derivative. The FCR liability is not designated as a hedge for accounting purposes and, as such, changes in its fair value are recorded within cost of revenue in the Consolidated Statements of Operations. See Note 3 for additional information on finance charge reversals. Derivative Instruments on our Consolidated Financial Statements The following table presents the fair values and Consolidated Balance Sheets locations of our derivative instruments as of the dates indicated. December 31, Balance Sheet Location 2019 2018 Designated as cash flow hedges Interest rate swap Other liabilities $ 2,763 $ — Not designated as hedges FCR liability Finance charge reversal liability $ 206,035 $ 138,589 The following table presents the impacts of our derivative instruments on our Consolidated Statements of Operations for the periods indicated. Year Ended December 31, 2019 2018 2017 Designated as cash flow hedges Interest rate swap – gain (loss) reclassified into interest expense $ 441 $ — $ — Interest rate swap – gain (loss) reclassified into income tax expense 38 — — Not designated as hedges FCR liability – change in fair value recorded in cost of revenue $ 170,368 $ 96,878 $ 43,295 Our derivative instrument activities are included within operating cash flows in our Consolidated Statements of Cash Flows. Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in the components of accumulated other comprehensive income (loss) associated with our cash flow hedge, which exclude amounts pertaining to noncontrolling interests. There was no accumulated other comprehensive income (loss) activity during the year ended December 31, 2018. Cash Flow Hedge December 31, 2019 Accumulated other comprehensive income (loss), beginning balance $ — Other comprehensive income (loss) before reclassifications and tax (841) Tax (expense) benefit 279 Other comprehensive income (loss) before reclassifications, net of tax (562) Reclassifications out of accumulated other comprehensive income (loss), net of tax expense of $38 (194) Net (increase) decrease in other comprehensive loss (756) Accumulated other comprehensive income (loss), ending balance $ (756) Based on the current interest rate environment, the Company estimates that approximately $(0.7) million of net unrealized gains (losses) reported in accumulated other comprehensive income (loss) will be reclassified into earnings within the next twelve months.

Other Liabilities

Other Liabilities	12 Months Ended
	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities The following table details the components of other liabilities in the Consolidated Balance Sheets as of the dates indicated. December 31, 2019 2018 Transaction processing liabilities $ 24,465 $ 4,958 Servicing liabilities (1) 3,796 3,016 Distributions payable (2) 5,978 10,066 Interest rate swap (3) 2,763 — Tax related liabilities (4) 873 4,412 Deferred lease liabilities (5) — 2,489 Accruals and other liabilities (6) 9,442 10,110 Other liabilities $ 47,317 $ 35,051 (1) We elected the fair value method to account for our servicing liabilities. Refer to Note 3 for additional information. (2) Related party distributions payable are not included in this balance, but rather are included within related party liabilities. (3) Refer to Note 3 and Note 8 for additional information on our interest rate swap, which was in a liability position as of December 31, 2019. (4) Tax related liabilities primarily include certain taxes payable related to the Reorganization Transactions. (5) Deferred lease liabilities were calculated in accordance with legacy lease guidance in ASC 840, Leases, for the amount presented as of December 31, 2018. Under the new lease guidance codified in ASC 842, Leases , which we adopted on January 1, 2019, we presented operating lease liabilities separately on the Consolidated Balance Sheets as of December 31, 2019. See Note 1 and Note 14 for additional information on our lease accounting. (6) Accruals and other liabilities as of December 31, 2018 was adjusted to exclude the financial guarantee liability to conform to the current period presentation in the Consolidated Balance Sheets. Refer to Note 1 for additional discussion of our basis of presentation.

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2019
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests GreenSky, Inc. is the sole managing member of GS Holdings and consolidates the financial results of GS Holdings. Therefore, the Company reports a noncontrolling interest based on the common units of GS Holdings held by the Continuing LLC Members. Changes in GreenSky, Inc.’s ownership interest in GS Holdings, while GreenSky, Inc. retains its controlling interest in GS Holdings, are accounted for as equity transactions. As such, future redemptions or direct exchanges of Holdco Units by the Continuing LLC Members (with automatic cancellation of an equal number of shares of Class B common stock) for shares of our Class A common stock on a one-for-one basis will result in a change in ownership and reduce or increase the amount recorded as noncontrolling interest and increase or decrease additional paid-in capital. The Company consolidates the financial results of GS Holdings and reports a noncontrolling interest in its Consolidated Financial Statements representing the GS Holdings interests held by Continuing LLC Members. During the years ended December 31, 2019 and 2018, GreenSky, Inc. had a weighted average ownership interest in GS Holdings of 34.6% and 31.2%, respectively. In connection with the Reorganization Transactions and IPO, GreenSky, Inc. issued 129.0 million shares of Class B common stock to the Continuing LLC Members. Subsequent to the Reorganization Transactions and IPO during the year ended December 31, 2018, an aggregate of 0.3 million Holdco Units were exchanged by the Continuing LLC Members (with automatic cancellation of Class B common stock) for 0.3 million newly-issued shares of Class A common stock, increasing our total ownership interest in GS Holdings to 30.0% as of December 31, 2018. As of December 31, 2019 and 2018, GreenSky, Inc. had 66,424,838 and 54,504,902 shares, respectively, of Class A common stock outstanding, which resulted in an equivalent amount of ownership of Holdco Units. During the year ended December 31, 2019, an aggregate of 15.9 million Holdco Units were exchanged by the Continuing

Stockholders Equity (Deficit)

Stockholders Equity (Deficit)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Stockholders Equity (Deficit)	Stockholders Equity (Deficit) Historical information prior to the Reorganization Transactions has been restated below to account for a 10 to 1 stock split that occurred immediately prior to the IPO in connection with the Reorganization Transactions. Treasury Stock During 2018, our Board of Directors authorized the repurchase of up to $150 million of the Company's Class A common stock. Under the repurchase program, repurchases were made at management's discretion from time to time on the open market or through privately negotiated transactions. The repurchased shares are held in a treasury account using the cost method. As of December 31, 2019, the repurchase program was terminated. Our treasury account also includes Class A common stock related to restricted stock awards that were forfeited by the award recipient. The Company does not pay any consideration to reacquire these shares. See Note 12 for further discussion of our restricted stock awards. As of December 31, 2019, there were 13,664,901 shares of Class A common stock held in treasury, including: (i) purchases of 13,425,688 shares of Class A common stock at a cost of $146.1 million, (ii) 222,595 shares associated with forfeited restricted stock awards, and (iii) 16,618 shares associated with tax withholdings upon vesting of restricted stock awards. Upon reissuance of any treasury shares, the Company uses a first-in, first-out approach. There were no reissuances of treasury shares during the years ended December 31, 2019 and 2018. Warrants As part of the Reorganization Transactions, outstanding warrants to acquire Class A units of GS Holdings were equitably adjusted pursuant to their terms so that they are exercisable for Holdco Units (and an equal number of shares of Class B common stock). Refer to Note 1 for a discussion of the Reorganization Transactions. In January 2019, a warrant issued in January 2014 to an affiliate of one of the members of the former GSLLC board of managers was fully exercised on a cashless basis, which resulted in the issuance of 1,180,163 Holdco Units and an equal number of shares of Class B common stock. During 2017, 100,000 warrants issued in October 2015 to a GSLLC (and subsequently GS Holdings) Class A member, which was also an affiliate of one of the members of the former GSLLC board of managers, was fully exercised for GS Holdings Class A units. Distributions The following table summarizes activity associated with our non-tax distributions and payments, as well as our tax distributions during the periods indicated. Year Ended December 31, Remaining Reserved Payment (1) (in millions) 2019 2018 2017 Non-tax distributions previously declared and paid upon vesting Credit Agreement Distributions (2) Distributions $ 2.8 $ 50.7 $ — $ 4.0 Related party payments 0.6 1.1 — — Special Operating Distributions (3) Distributions 1.4 25.5 — 2.0 Related party payments 0.2 1.0 — — Tax distributions 18.5 63.7 71.3 N/A Total $ 23.5 $ 142.0 $ 71.3 $ 6.0 (1) As of December 31, 2019, all remaining portions of the non-tax distributions were recorded within other liabilities in the Consolidated Balance Sheets. (2) See Note 7 for discussion of distributions using the proceeds from our borrowings.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation We maintain the 2018 Omnibus Incentive Compensation Plan (the "2018 Plan"), which was adopted in April 2018. The Company reserved a total of 24.0 million shares of Class A common stock for issuance pursuant to the 2018 Plan. As of December 31, 2019, 18.6 million shares of the Company's common stock remained available for future issuance under the 2018 Plan. The Company has the following types of share-based compensation awards outstanding as of December 31, 2019: Class A common stock options, unvested Holdco Units and unvested Class A common stock awards. Historical information prior to the Reorganization Transactions has been restated below to account for a 10 to 1 stock split that occurred immediately prior to the IPO in connection with the Reorganization Transactions. We recorded share-based compensation expense for the years ended December 31, 2019, 2018 and 2017 of $13.8 million, $6.0 million and $4.0 million, respectively, which is included within compensation and benefits expense in the Consolidated Statements of Operations. Class A Common Stock Options Class A common stock options ("Options") granted by the Company are time-vested awards that vest ratably over a period of three years to five years of continued employee or non-employee service, or cliff vest at the end of a period of five years of continued employee service. The contractual term of Options is ten years from the grant date. Options are not subject to post-vesting restrictions. Upon the exercise of Options, the Company issues Class A common stock. On October 1, 2015, and as discussed in more detail under "Profits Interests," certain GS Holdings Class A unit options were capped ("Capped Options") and an equivalent number of profits interests were issued with a threshold value of $7.60 per unit, which represented the fair value of the GS Holdings Class A units as of that date. Capped Options and their related profits interest awards were aggregated to count as one unit against the legacy GS Holdings equity incentive plan authorization limit. See "Profits Interests" below for discussion of the effects of this modification. As part of the Reorganization Transactions, outstanding options to acquire Class A units of GS Holdings (including Capped Options) were equitably adjusted to become exercisable for shares of Class A common stock, which remain subject to the same vesting requirements of the original GS Holdings Class A unit options ("Class A Unit Options"). We evaluated this modification in accordance with ASC 718, Compensation – Stock compensation and determined that it did not require modification accounting. This modification affected 145 employees and former employees and four non-employees. Refer to Note 1 for a discussion of the Reorganization Transactions. Option activity was as follows during the periods indicated: Year Ended December 31, 2019 2018 2017 Number of Weighted Number of Number of Outstanding at beginning of period 8,053,292 $ 5.25 9,821,890 10,006,890 Granted prior to Reorganization Transactions and IPO (1) N/A N/A 340,000 500,000 Exercised prior to Reorganization Transactions and IPO (2)(3) N/A N/A (270,000) (202,000) Forfeited prior to Reorganization Transactions and IPO N/A N/A (260,000) (483,000) Effect of Reorganization Transactions and IPO N/A N/A (186,772) N/A Granted after Reorganization Transactions and IPO (1) 1,610,407 11.41 1,114,029 N/A Exercised after Reorganization Transactions and IPO (2)(3) (5,192,471) 1.76 (2,171,284) N/A Forfeited after Reorganization Transactions and IPO (258,819) 13.32 (321,506) N/A Expired after Reorganization Transactions and IPO (4) (30,500) 17.25 (13,065) N/A Outstanding at end of period (5) 4,181,909 $ 11.36 8,053,292 9,821,890 Exercisable at end of period (5)(6) 1,262,998 $ 7.24 5,364,233 7,015,000 (1) Weighted average grant date fair value of Options granted during the years ended December 31, 2019, 2018 and 2017 was $3.38, $6.06 and $3.52, respectively. (2) The total intrinsic value of Options exercised, which is defined as the amount by which the market value of the stock on the date of exercise exceeds the exercise price, during the years ended December 31, 2019, 2018 and 2017 was $27.7 million, $15.4 million and $0.4 million, respectively. (3) Employees paid $0.3 million to the Company during the year ended December 31, 2019 to exercise Options, which resulted in the issuance of 37,497 shares of Class A common stock. Additionally, during the year ended December 31, 2019, 5,154,964 Options were exercised by means of a cashless net exercise procedure, which resulted in the issuance of 2,236,095 shares of Class A common stock. The Company paid withholding taxes of $12.4 million during the year ended December 31, 2019 related to cashless Option exercises. Employees paid $0.4 million to the Company during the year ended December 31, 2018 to exercise GS Holdings options, which resulted in the issuance of 30,516 Holdco Units. Additionally, during the year ended December 31, 2018, 2,372,936 GS Holdings options were exercised by means of a cashless net exercise procedure, which resulted in the issuance of 38,637 Holdco Units prior to the Reorganization Transactions and IPO and the issuance of 1,027,377 shares of Class A common stock subsequent to the Reorganization Transactions and IPO. The Company paid withholding taxes of $5.4 million during the year ended December 31, 2018 related to cashless Option exercises, inclusive of exercises both prior and subsequent to the Reorganization Transactions and IPO. The Company recognized a tax benefit of $2.9 million and $0.9 million during the years ended December 31, 2019 and 2018, respectively, related to Options exercised. (4) Expired Options represent vested underwater Options that were not exercised by terminated employees within 30 days from the employment termination date, as stipulated in the Option award agreements. (5) The aggregate intrinsic value and weighted average remaining contractual terms of Options outstanding and Options exercisable were as follows as of the date indicated: December 31, 2019 Aggregate intrinsic value (in millions) Options outstanding $ 4.8 Options exercisable $ 3.7 Weighted average remaining term (in years) Options outstanding 7.6 Options exercisable 5.6 (6) The total fair value, based on grant date fair value, of Options that vested during the years ended December 31, 2019, 2018 and 2017 was $2.6 million, $1.2 million and $1.4 million, respectively. Compensation expense related to Options is measured based on their grant date fair values. We use a Black-Scholes options pricing model to determine the grant date fair value of Options. The following inputs and assumptions were used to value the Options as of the grant dates: Year Ended December 31, 2019 2018 2017 Risk-free interest rate 1.50 – 2.50% 2.77 – 3.06% 2.03 – 2.23% Expected volatility (1) 22.45 – 24.40% 23.10 – 25.70% 23.90 – 44.40% Expected dividend yield (2) —% —% —% Expected term (in months) (3) 75 75 – 78 78 Fair value of Options $1.77 – $3.78 $2.95 – $7.14 $2.69 – $4.99 (1) We estimated volatility based on historical volatility rates of a peer group of public payment processing companies over a period that approximates the expected term. (2) We assumed a dividend yield of zero as we have no plans to declare dividends for the foreseeable future. (3) We determined the expected term as the midpoint between the scheduled vesting and expiration dates of the awards. We used the simplified method primarily due to having insufficient historical Option exercise experience upon which to reasonably estimate an expected term. At December 31, 2019, unrecognized compensation costs related to unvested Options totaled $9.8 million, which will be recognized over a weighted average remaining requisite service period of 2.3 years. Profits Interests On October 1, 2015, we began to award profits interests to certain employees and non-employee directors. Profits interests were assigned a threshold value on the date of grant, which was generally equivalent to the fair value of our GSLLC (and subsequently GS Holdings) Class A units at the time of grant. The profits interests issued on October 1, 2015 were modifications of previously issued Class A Unit Options. The Class A Unit Options remained outstanding, but were capped at a liquidation value of $7.60 per unit, meaning that the maximum proceeds received by Class A Unit Option holders at liquidation was limited to the difference between $7.60 per unit and the Class A Unit Option strike price. We evaluated this modification in accordance with ASC 718, Compensation – Stock compensation , and determined that there was no incremental share-based compensation expense to recognize as a result of this modification. There were 41 employees and two non-employees affected by the modification. Profits interests granted by the Company were time-vested awards that either vested ratably over a period of four and a half to five years of continued employee service or cliff vested at the end of a period of five years of continued employee service. Profits interests were not subject to post-vesting restrictions. As part of the Reorganization Transactions, profits interests were converted into Holdco Units, which remain subject to the same service vesting requirements as the original profits interests. There were 65 employees and former employees and three non-employees affected by the modification. Given the conversion of all outstanding profits interests in connection with the Reorganization Transactions, there was no profits interests activity during the year ended December 31, 2019. Refer to Note 1 for a detailed discussion of the Reorganization Transactions. Profits interests activity was as follows during the years indicated: Year Ended December 31, 2018 2017 Number of Number of Outstanding at beginning of period 14,061,530 12,616,890 Granted prior to Reorganization Transactions and IPO (1) 2,920,000 2,374,640 Forfeited prior to Reorganization Transactions and IPO (800,000) (930,000) Redeemed prior to Reorganization Transactions and IPO — — Effect of Reorganization Transactions and IPO (16,181,530) N/A Outstanding at end of period (2) — 14,061,530 (1) Weighted average grant date fair value of profits interests granted during the years ended December 31, 2018 and 2017 was $4.47 and $3.49, respectively. (2) The total fair value based on grant date fair value of profits interests that vested was $0.4 million and $2.4 million during the years ended December 31, 2018 and 2017, respectively. Compensation expense related to profits interests was measured based on the grant date fair value of the profits interests. We used a Black-Scholes options pricing model to determine the grant date fair value of profits interests. The following inputs and assumptions were used to value the profits interests (limited to profits interests without an associated Capped Option) as of the grant dates. Year Ended December 31, 2018 2017 Risk-free interest rate 2.60 – 2.63% 1.80 – 2.18% Expected volatility (1) 25.70% 23.90 – 24.80% Expected dividend yield (2) —% —% Expected term (in months) (3) 54 – 60 60 Fair value of profits interests $3.92 – $5.91 $2.28 – $4.01 (1) We estimated volatility based on historical volatility rates of a peer group of public payment processing companies over a period that approximates the expected term. (2) We assumed a dividend yield of zero as we have no plans to declare dividends for the foreseeable future. (3) We determined the expected term to be equivalent to the vesting period. Unvested Holdco Units As part of the Reorganization Transactions and IPO, 15,241,530 profits interests in GS Holdings were converted into 2,941,139 and 3,172,843 vested and unvested Holdco Units, respectively, based on the prevailing profits interests thresholds and the IPO price of $23.00 per share. The converted Holdco Units remain subject to the same service vesting requirements as the original profits interests and are not subject to post-vesting restrictions. We evaluated this modification in accordance with ASC 718, Compensation – Stock compensation , and determined that there was no incremental share-based compensation expense to recognize as a result of this modification. Therefore, unrecognized compensation expense was unaffected by the modification. There were 36 employees and former employees and three non-employees affected by this modification. Unvested Holdco Units activity was as follows during the years indicated: Year Ended December 31, 2019 Year Ended December 31, 2018 Number of Holdco Units Weighted Average Grant Date Fair Value Number of Holdco Units Unvested at beginning of period 2,514,856 $ 23.00 — Effect of Reorganization Transactions and IPO N/A N/A 3,172,843 Forfeited (301,735) 23.00 (156,739) Vested (1) (1,100,514) 23.00 (501,248) Unvested at end of period 1,112,607 $ 23.00 2,514,856 (1) The total fair value, based on grant date fair value, of previously unvested Holdco Units that vested during the years ended December 31, 2019 and 2018 was $25.3 million and $11.5 million, respectively. During the years ended December 31, 2019 and 2018, 655,334 and 277,059, respectively, vested Holdco Units were exchanged (with automatic cancellation of an equal number of shares of Class B common stock) for shares of our Class A common stock on a one-for-one basis. At December 31, 2019, 3,610,507 vested Holdco Units were eligible for exchange for shares of our Class A common stock. At December 31, 2019, unrecognized compensation costs related to unvested Holdco Unit awards totaled $6.7 million, which will be recognized over a weighted average remaining requisite service period of two Restricted Stock Awards As part of the Reorganization Transactions and IPO, 940,000 profits interests in GS Holdings were converted into 127,327 and 255,904 vested and unvested Class A common stock awards, respectively, based on the prevailing profits interests thresholds and the IPO price of $23.00 per share. The converted unvested Class A common stock awards remain subject to the same service vesting requirements as the original profits interests and are not subject to post-vesting restrictions. We evaluated this modification in accordance with ASC 718, Compensation – Stock compensation , and determined that there was no incremental share-based compensation expense to recognize as a result of this modification. Therefore, unrecognized compensation expense was unaffected by the modification. There were 29 employees and former employees affected by this modification. Subsequent to the Reorganization Transactions and IPO, we granted restricted stock awards in the form of unvested Class A common stock to certain employees that vest ratably over a three four Unvested Class A common stock activity was as follows during the years indicated: Year Ended Year Ended Class A common stock Weighted Average Grant Date Fair Value Class A common stock Unvested at beginning of period 454,561 $ 19.08 — Effect of Reorganization Transactions and IPO N/A N/A 255,904 Granted (1) 2,887,905 10.90 234,829 Forfeited (2) (210,845) 13.94 (11,750) Vested (3) (132,278) 19.84 (24,422) Unvested at end of period 2,999,343 $ 11.53 454,561 (1) Weighted average grant date fair value of restricted stock awards granted during the year ended December 31, 2018 was $15.37. (2) Forfeited shares of unvested Class A common stock associated with restricted stock awards are held in our treasury stock account. Refer to Note 11 for additional information on our treasury stock. (3) The total fair value, based on grant date fair value, of previously unvested Class A common stock that vested during the years ended December 31, 2019 and 2018 was $2.6 million and $0.6 million, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes GreenSky, Inc. is taxed as a corporation and pays corporate federal, state and local taxes on income allocated to it from GS Holdings based upon GreenSky, Inc.’s economic interest held in GS Holdings. GS Holdings is treated as a pass-through partnership for income tax reporting purposes and not subject to federal income tax. Accordingly, the Company is not liable for income taxes on the portion of GS Holdings' earnings not allocated to it. The results for the year ended December 31, 2017 do not reflect income tax expense because, prior to the Reorganization Transactions, the consolidated GSLLC (and subsequently GS Holdings) pass-through entity was not subject to corporate tax. The Company's income before income tax expense of $88,848, $133,514 and $138,668 during the years ended December 31, 2019, 2018 and 2017, respectively, consisted entirely of income earned in the United States. Components of income tax expense consisted of the following for the years indicated: Year Ended December 31, 2019 2018 Current income tax expense (benefit): Federal $ 5 $ 4 State 10 5 Deferred income tax expense (benefit): Federal 4,206 4,860 State (11,346) 665 Income tax expense (benefit) $ (7,125) $ 5,534 A reconciliation of the United States statutory income tax rate to the Company's effective income tax rate is as follows for the years indicated: Year Ended December 31, 2019 2018 2017 Statutory federal tax rate 21.0 % 21.0 % 35.0 % Income attributable to noncontrolling interests and nontaxable income (15.2) (16.3) (35.0) State income taxes, net of federal benefit 0.6 0.4 — State rate change impact on deferred taxes (13.0) — — Remeasurement of liability under tax receivable agreement 2.3 — — Excess tax benefits related to share-based compensation (3.3) — — Other (0.4) (1.0) — Effective income tax rate (8.0) % 4.1 % — % The Company’s effective tax rate was (8.0)% in 2019, in comparison to the U.S. statutory tax rate in 2019 of 21.0%. The comparison of our effective tax rate to the U.S. statutory tax rate was primarily influenced by the fact that the Company is not liable for income taxes on the portion of GS Holdings’ earnings that are attributable to the noncontrolling interests. Further, the comparison includes the effects of warrant and share-based compensation deductions, and the effect of remeasuring net deferred tax assets for state tax rate changes, and the removal of the pre-tax loss associated with remeasurement of the tax receivable agreement liability. Details of the Company’s deferred tax assets and liabilities are as follows: Year Ended December 31, 2019 2018 Deferred tax assets: Investment in partnership $ 358,024 $ 299,466 Net operating loss carryforwards and tax credits 5,160 5,634 Other 1,657 1,879 Total 364,841 306,979 Valuation allowance — — Total deferred tax assets 364,841 306,979 Total deferred tax liabilities — — Deferred tax assets, net $ 364,841 $ 306,979 As of December 31, 2019, the Company had net operating loss carryforwards (“NOLs”) of $4.7 million, of which approximately $3.9 million have an indefinite life. NOLs of $0.8 million will begin to expire in 2030. As of December 31, 2019, the Company had federal and state tax credit carryforwards of $0.2 million and $0.5 million, respectively, which will begin to expire in 2028 and 2038. The Company believes as of December 31, 2019, it is more likely than not that the results of future operations will generate sufficient taxable income to realize the NOLs and tax credits and, as such, no valuation allowance was recorded. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years indicated. The Company did not have uncertain tax benefits during the year ended December 31, 2017 because, prior to the Reorganization Transactions, the Company was not subject to corporate tax. Year Ended December 31, 2019 2018 Beginning balance $ 3,377 $ — Increase related to Reorganization Transactions — 1,085 Increase related to current year tax positions 53 2,292 Decrease related to current year tax positions (3,376) — Ending balance $ 54 $ 3,377 As of December 31, 2019 and 2018, the total liability related to uncertain tax positions was $0.1 million and $3.4 million, respectively. The decrease in the liability for uncertain tax positions was due to the Internal Revenue Service issuing a consent agreement whereby the Company was granted permission for a non-automatic method change. If recognized, $0.1 million of the amount of unrecognized tax benefits would impact our effective tax rate. The Company recognizes interest and penalties, if applicable, related to uncertain tax positions as a component of income tax expense. Accrued interest and penalties were immaterial as of December 31, 2019 and 2018, and therefore did not impact the effective income tax rate. The Company files income tax returns as required by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company may be subject to examination by federal and certain state and local tax authorities. As of December 31, 2019, the Company’s federal income tax returns for the years 2016 through 2018 and state and local tax returns for the years 2015 through 2018 remain open and are subject to examination. Currently, no tax authorities are auditing any of the Company’s income tax matters. Tax Receivable Agreement Pursuant to our election under Section 754 of the Internal Revenue Code (the "Code"), we expect to obtain an increase in our share of the tax basis in the net assets of GS Holdings when Holdco Units are redeemed or exchanged by the Continuing LLC Members of GS Holdings. We intend to treat any redemptions and exchanges of Holdco Units as direct purchases of Holdco Units for United States federal income tax purposes. These increases in tax basis may reduce the amounts that we would otherwise pay in the future to various tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. On May 23, 2018, we entered into a tax receivable agreement ("TRA") that provides for the payment by us of 85% of the amount of any tax benefits that we actually realize, or in some cases are deemed to realize, as a result of (i) increases in our share of the tax basis in the net assets of GS Holdings resulting from any redemptions or exchanges of Holdco Units and from our acquisition of the equity of certain of the Former Corporate Investors, (ii) tax basis increases attributable to payments made under the TRA, and (iii) deductions attributable to imputed interest pursuant to the TRA (the "TRA Payments"). We expect to benefit from the remaining 15% of any tax benefits that we may actually realize. The TRA Payments are not conditioned upon any continued ownership interest in GS Holdings or us. The rights of each member of GS Holdings that is a party to the TRA are assignable to transferees of their respective Holdco Units. The timing and amount of aggregate payments due under the TRA may vary based on a number of factors, including the timing and amount of taxable income generated by the Company each year, as well as the tax rate then applicable. As a result of the Reorganization Transactions, the IPO and subsequent exchanges of Class B common stock for Class A common stock, during the years ended December 31, 2019 and 2018, the Company recognized deferred tax assets in the amount of $55.2 million and $317.0 million, respectively, and corresponding tax receivable agreement liabilities of $46.9 million and $264.8 million, respectively, representing approximately 85% of the tax benefits due to beneficiaries of the TRA. The offset to the initial entries recorded in connection with

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Guarantees	Commitments, Contingencies and Guarantees Commitments Leases As discussed in Note 1, we adopted the provisions of ASU 2016-02 as of January 1, 2019. Periods subsequent to this adoption date are presented and disclosed in accordance with ASC 842, Leases , while comparative periods continue to be presented and disclosed in accordance with legacy guidance in ASC 840, Leases . In accordance with ASC 842, we determine if an arrangement is or contains a lease at inception of the contract. A contract is or contains a lease if the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. We primarily lease our premises under multi-year, non-cancelable operating leases. Operating leases are included in operating lease ROU assets and operating lease liabilities in our Consolidated Balance Sheets. As of December 31, 2019, we did not have any finance leases. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The operating lease ROU assets are increased by any prepaid lease payments and are reduced by any unamortized lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Base rent is typically subject to rent escalations on each annual anniversary from the lease commencement dates. Lease expense for lease payments, including any step rent provisions specified in the lease agreements, is recognized on a straight-line basis over the lease term and is included within property, office and technology and related party expenses in the Consolidated Statements of Operations. Operating lease cost associated with our ROU assets and lease liabilities was $3,847, $3,183, and $2,972 for the years ended December 31, 2019, 2018 and 2017, respectively. See Note 15 for additional information regarding office space leased from a related party. Our operating leases have terms expiring from 2021 through 2024, exclusive of renewal option periods. Our leases contain renewal option periods ranging from five As of December 31, 2019, we did not have any operating leases that had not yet commenced. Supplemental cash flow and noncash information related to our operating leases were as follows for the year indicated. Year Ended Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows from operating leases $ 4,241 Noncash operating lease ROU assets obtained in exchange for operating lease liabilities Resulting from our adoption of ASU 2016-02 $ 11,279 Resulting from new or modified leases 2,975 Supplemental balance sheet information related to our operating leases was as follows as of the date indicated. December 31, 2019 Operating lease ROU assets $ 11,268 Operating lease liabilities $ 13,884 Weighted average remaining lease term (in years) 3.3 Weighted average discount rate 5.7 % For the periods presented, maturities of operating lease liabilities as of the date indicated and a reconciliation of the total undiscounted cash flows to the operating lease liabilities in the Consolidated Balance Sheets, were as follows in accordance with ASC 842: December 31, 2019 2020 $ 4,491 2021 4,892 2022 3,704 2023 1,501 2024 810 Thereafter — Total lease payments $ 15,398 Less: imputed interest (1,514) Operating lease liabilities $ 13,884 Covenants Our transaction processor and some Bank Partners impose financial covenants upon our wholly owned subsidiary, GSLLC. As of December 31, 2019 and 2018, GSLLC was in compliance with all financial covenants. See Note 7 for discussion of financial and non-financial covenants associated with our borrowings. Other Commitments As of December 31, 2019 and 2018, the outstanding open and unused line of credit on approved loan receivables held for sale was $4.9 million and $3.0 million, respectively. We did not record a provision for these unfunded commitments, but believe we have adequate cash on hand to fund these commitments. For certain Bank Partners, we maintain a restricted cash balance based on a contractual percentage of the total interest billed on outstanding deferred interest loans that are within the promotional period less previous FCR on such outstanding loans. As of December 31, 2019 and 2018, restricted cash in the Consolidated Balance Sheets includes $75.0 million and $49.8 million, respectively, associated with these arrangements. Contingencies In limited instances, the Company may be subject to operating losses if we make certain errors in managing credit programs and we determine that a customer is not liable for a loan originated by a Bank Partner. We evaluated this contingency in accordance with ASC 450, Contingencies , and determined that it is reasonably possible that losses could result from errors in underwriting. However, in management’s opinion, it is not possible to estimate the likelihood or range of reasonably possible future losses related to errors in underwriting based on currently available information. Therefore, we have not established a liability for this loss contingency. Further, from time to time, we place Bank Partner loans on non-accrual and non-payment status (“Pended Status”) while we investigate consumer loan balance inquiries, which may arise from disputed charges related to work performed by third-party merchants. As of December 31, 2019, Bank Partner loan balances in Pended Status were $13.5 million. While it is management’s expectation that most of these loan balance inquiries will be resolved without incident, in certain instances we may determine that it is appropriate for the Company to permanently reverse the loan balance and assume the economic responsibility for the loan balance itself. We record a liability for these instances. As of December 31, 2019, our liability for potential Pended Status future losses was $5.8 million. Legal Proceedings The Company and certain of its officers and directors, together with certain underwriters of the Company's IPO, were named in six putative class actions filed in the Supreme Court of the State of New York, all of which actions have been consolidated (In Re GreenSky, Inc. Securities Litigation (Consolidated Action), Index No. 655626/2018 (N.Y. Sup. Ct.) (the "State Case")), and in two putative class actions filed in the United States District Court for the Southern District of New York, both of which actions also have been consolidated (In Re GreenSky, Inc. Securities Litigation (Consolidated Action), Case No. 1:2018-cv-11071-PAE (S.D.N.Y.) (the "Federal Case" and, together with the State Case, the "Consolidated Cases")). The plaintiffs in the Consolidated Cases generally assert on behalf of certain purchasers in the Company's IPO claims under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933. The Company and its officers and directors named in the Consolidated Cases intend to defend themselves vigorously in all respects in regard thereto. Under certain circumstances, the Company may be obligated to indemnify some or all of the other defendants in the Consolidated Cases. The Company is unable to estimate the amount of reasonably possible losses it may incur with respect to the Consolidated Cases. Moreover, because the Company has not determined that the likelihood of loss is probable, the Company has not recorded any liability as of December 31, 2019 with respect to either the Federal Case or the State Case. We are also involved in a number of other proceedings concerning matters arising in connection with the conduct of our business. While the ultimate outcome of such proceedings cannot be predicted with certainty, we do not believe that the resolution of these other proceedings, individually or in the aggregate, will have a material adverse effect on our financial condition, results of operations or cash flows. With respect to all legal proceedings, it is our policy to recognize legal fees as they are incurred as a general and administrative expense in our Consolidated Statements of Operations. Financial Guarantees Under the terms of the contracts with our Bank Partners, we provide limited protection to the Bank Partners in the event of excess Bank Partner portfolio credit losses by holding cash in restricted, interest-bearing escrow accounts in an amount equal to a contractual percentage of the Bank Partners’ monthly originations and month-end outstanding portfolio balance. The Company’s maximum exposure to Bank Partner portfolio credit losses is limited to the contractual restricted cash balance, which was $150.4 million as of December 31, 2019. The Company's estimated contingent value of the financial guarantee represents the amount of payments to Bank Partners from these escrow accounts that are expected to be probable of occurring based on current Bank Partner portfolio composition and is recorded within financial guarantee liability in the Consolidated Balance Sheets. During 2019, Regions Bank indicated that it made a strategic decision to reduce its use of indirect lending programs and, consequently, did not renew its origination commitment when it expired on November 25, 2019. The non-renewal event prompted management to conclude as of December 31, 2019 that the likelihood of loss with respect to the Regions escrow account was probable of occurring. As of December 31, 2019, the estimated undiscounted value of the financial guarantee was $16.7 million, which was primarily attributable to the Regions Bank portfolio. Recorded financial guarantees are typically settled within one year of the initial measurement of the liabilities. In estimating the obligation, we consider a variety of factors, including historical experience, management’s expectations of current customer delinquencies converting into Bank Partner portfolio losses and recent events and circumstances. We do not expect to directly recover any losses associated with this financial guarantee.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Lease We lease office space from a related party under common management control for which lease expense is recognized within related party expenses in the Consolidated Statements of Operations and for which operating lease ROU assets and operating lease liabilities are recognized within those respective line items in the Consolidated Balance Sheets. Total operating lease cost related to this office space was $1,738, $1,691 and $1,486 for the years ended December 31, 2019, 2018 and 2017, respectively. Operating lease ROU assets and operating lease liabilities related to this office space were $5.2 million and $6.2 million, respectively, as of December 31, 2019. Contractual and Other Arrangements In April 2018, we entered into an agreement with an affiliate of a member of the Board of Directors whereby we receive certain executive search and recruiting services in exchange for a fee. We incurred expenses related to this arrangement of $0 and $315 during the years ended December 31, 2019 and 2018, respectively, which is presented within related party expenses in the Consolidated Statements of Operations. There was no payable related to this arrangement as of December 31, 2019 and 2018. In August 2018, we entered into an agreement in which an unrelated third party acted as a placement agent in connection with certain Charged-Off Receivables transfers and received a fee from us based on the proceeds received from such transfers. In performing these services, the third party agreed to use an affiliate of a member of the Board and, as such, we determined this arrangement to be related party in nature. In December 2018, the unrelated third party assigned its role in the agreement to the affiliate entity itself; therefore, the arrangement remains a related party transaction. We incurred expenses related to this arrangement of $540 and $206 during the years ended December 31, 2019 and 2018, respectively, which are presented within related party expenses in the Consolidated Statements of Operations. There was no payable related to this arrangement as of December 31, 2019 and 2018. We entered into non-interest bearing loan agreements with certain non-executive employees for which the remaining outstanding balances are forgiven ratably over designated periods based on continued employment with the Company. As of December 31, 2019 and 2018, the remaining outstanding balances on these loan agreements were $155 and $142, respectively, which are presented within related party receivables in the Consolidated Balance Sheets. In August 2017, we incurred fees of $2.6 million due to an affiliate of one of the members of the board of managers in connection with finalizing our August 2017 term loan transaction. These costs were not directly attributable to the original term loan and were, therefore, expensed as incurred rather than deferred against the term loan balance. There were no remaining unpaid fees as of December 31, 2019. The unpaid portion of these fees of $0.5 million as of December 31, 2018 was recorded within related party liabilities in the Consolidated Balance Sheets. There were no equity-based payments to non-employees that resulted in related party expenses during the years ended December 31, 2019 and 2018. Equity-based payments to non-employees resulted in related party expenses of $285 for the year ended December 31, 2017. Distributions As of December 31, 2019, there were no unpaid portions of related party distributions or reserved payments recorded within related party liabilities in the Consolidated Balance Sheets. See Note 11 for distribution and payment details. Financing Partner Arrangements In June 2018, the outstanding receivables purchased by affiliates of two members of our Board from a Bank Partner in November 2016 for $20.0 million were sold to another Bank Partner, which is not a related party, and continue to be serviced by us. In connection with that receivable sale, the related party servicing agreement with us was terminated. As of December 31, 2018, we no longer had any such related party arrangements. Consolidated Statements of Operations effects associated with our related party financing arrangements were as follows during the years indicated: Year Ended December 31, 2018 2017 Servicing and other $ 54 $ 146 Related party expenses (1) — 428 (1) Expenses incurred related to related party bank partner credit losses.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Reporting	Segment ReportingWe conduct our operations through a single operating segment and, therefore, one reportable segment. There are no significant concentrations by state or geographical location, nor are there any significant individual customer concentrations by balance.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Upon completion of our IPO, GreenSky, Inc. became the managing member of GS Holdings with 100% of the management and voting power in GS Holdings. In its capacity as managing member, GreenSky, Inc. has the sole authority to make decisions on behalf of GS Holdings and bind GS Holdings to agreements. Further, GS Holdings maintains separate capital accounts for its investors as a mechanism for tracking earnings and subsequent distribution rights. Accordingly, management concluded that GS Holdings is a limited partnership or similar legal entity as contemplated in ASC 810, Consolidation . Further, management concluded that GreenSky, Inc. is GS Holdings' primary beneficiary based on two conditions. First, GreenSky, Inc., in its capacity as managing member with sole voting rights, has the power to direct the activities of GS Holdings that most significantly impact its economic performance, including selecting, terminating and setting the compensation of management responsible for implementing GS Holdings' policies and procedures, as well as establishing the strategic, operating and capital decisions of GS Holdings in the ordinary course of business. Second, GreenSky, Inc. has an obligation to absorb potential losses of GS Holdings or the right to receive potential benefits from GS Holdings in proportion to its weighted average ownership interest, which was 34.6% for the year ended December 31, 2019. Management considers this exposure to be significant to GS Holdings. As the primary beneficiary, GreenSky, Inc. consolidates the results of GS Holdings for financial reporting purposes under the variable interest consolidation model guidance in ASC 810. GreenSky, Inc.’s relationship with GS Holdings results in no recourse to the general credit of GreenSky, Inc. GS Holdings and its consolidated subsidiaries represent GreenSky, Inc.’s sole investment. GreenSky, Inc. shares in the income and losses of GS Holdings in direct proportion to GreenSky, Inc.’s ownership percentage. Further, GreenSky, Inc. has no contractual requirement to provide financial support to GS Holdings. Below are tabular disclosures that provide insight into how GS Holdings affects GreenSky, Inc.’s financial position, performance and cash flows. Prior to the IPO and Reorganization Transactions, GreenSky, Inc. did not have any variable interest in GS Holdings. The following table presents the balances related to GS Holdings that are included in the Consolidated Balance Sheets as of the dates indicated, inclusive of GreenSky, Inc.'s interest in the variable interest entity. December 31, 2019 2018 Assets Cash and cash equivalents $ 177,730 $ 294,364 Restricted cash 250,081 155,109 Loan receivables held for sale, net 51,926 2,876 Accounts receivable, net 19,493 15,400 Related party receivables 156 142 Property, equipment and software, net 18,309 10,232 Operating lease right-of-use assets 11,268 — Other assets 38,224 7,448 Total assets $ 567,187 $ 485,571 Liabilities and Members Equity (Deficit) Liabilities Accounts payable $ 11,912 $ 5,357 Accrued compensation and benefits 10,734 8,484 Other accrued expenses 3,244 1,015 Finance charge reversal liability 206,035 138,589 Term loan 384,497 386,822 Related party liabilities — 825 Operating lease liabilities 13,884 — Financial guarantee liability 16,698 626 Other liabilities 46,444 30,638 Total liabilities $ 693,448 $ 572,356 Members Equity (Deficit) Equity (deficit) attributable to Continuing LLC Members (80,758) (60,349) Equity (deficit) attributable to GreenSky, Inc. (45,503) (26,436) Total members equity (deficit) (126,261) (86,785) Total liabilities and members equity (deficit) $ 567,187 $ 485,571 The following table reflects the impact of consolidation of GS Holdings into the Consolidated Statements of Operations for the years indicated. Year Ended December 31, 2019 2018 Total revenue $ 529,646 $ 414,673 Total costs and expenses 408,693 261,883 Operating profit 120,953 152,790 Total other income (expense), net (22,297) (19,276) Net income $ 98,656 $ 133,514 The following table reflects the cash flow impact of GS Holdings on the Consolidated Statements of Cash Flows for the years indicated. Year Ended December 31, 2019 2018 Net cash provided by operating activities $ 153,327 $ 256,426 Net cash used in investing activities (15,381) (6,581) Net cash used in financing activities (159,608) (154,210) Net increase (decrease) in cash and cash equivalents and restricted cash (21,662) 95,635 Cash and cash equivalents and restricted cash at beginning of period 449,473 353,838 Cash and cash equivalents and restricted cash at end of period $ 427,811 $ 449,473

Quarterly Consolidated Results

Quarterly Consolidated Results of Operations Data (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Consolidated Results of Operations Data (Unaudited)	Quarterly Consolidated Results of Operations Data (Unaudited)The following table sets forth our quarterly consolidated results of operations data for each of the eight quarters in the period ended December 31, 2019. GS Holdings is our predecessor for accounting purposes and, accordingly, amounts prior to the Reorganization Transactions and IPO represent the historical consolidated operations of GS Holdings and its subsidiaries. The amounts during the period from May 24, 2018 through December 31, 2018 represent those of consolidated GreenSky, Inc. and its subsidiaries. Basic and diluted earnings per share of Class A common stock is applicable only for the period from May 24, 2018 through December 31, 2018, which is the period following the Reorganization Transactions and IPO. Prior to the Reorganization Transactions and IPO, GreenSky, Inc. did not engage in any business or other activities except in connection with its formation and initial capitalization. See Note 1 for further information on our organization and see Note 2 for further information on our earnings per share. Year Ended December 31, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Total Total revenue $ 103,700 $ 138,695 $ 153,415 $ 133,836 $ 529,646 Cost of revenue (exclusive of depreciation and amortization) 58,037 56,228 64,957 69,358 248,580 Total costs and expenses 92,212 92,189 101,017 123,275 408,693 Operating profit 11,488 46,506 52,398 10,561 120,953 Total other income (expense), net (4,682) (11,779) (6,790) (8,854) (32,105) Income before income tax expense (benefit) 6,806 34,727 45,608 1,707 88,848 Net income 7,401 39,193 44,075 5,304 95,973 Less: Net income attributable to noncontrolling interests 4,502 26,877 29,349 3,265 63,993 Net income attributable to GreenSky, Inc. 2,899 12,316 14,726 2,039 31,980 Earnings per share of Class A common stock: Basic $ 0.05 $ 0.20 $ 0.24 $ 0.03 $ 0.52 Diluted (1) $ 0.05 $ 0.19 $ 0.23 $ 0.03 $ 0.49 Year Ended December 31, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Total Total revenue $ 85,326 $ 105,704 $ 113,912 $ 109,731 $ 414,673 Cost of revenue (exclusive of depreciation and amortization) 36,130 33,765 35,374 55,170 160,439 Total costs and expenses 61,749 58,896 59,655 81,583 261,883 Operating profit 23,577 46,808 54,257 28,148 152,790 Total other income (expense), net (4,973) (4,398) (5,170) (4,735) (19,276) Income before income tax expense (benefit) 18,604 42,410 49,087 23,413 133,514 Net income 18,604 40,816 45,712 22,848 127,980 Less: Net income attributable to noncontrolling interests 18,604 35,266 33,711 16,143 103,724 Net income attributable to GreenSky, Inc. N/A 5,550 12,001 6,705 24,256 Earnings per share of Class A common stock: Basic N/A $ 0.10 $ 0.21 $ 0.12 $ 0.43 Diluted (1) N/A $ 0.09 $ 0.20 $ 0.11 $ 0.41

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Management determined that the following events subsequent to December 31, 2019 were required for disclosure: Sale of loan receivables held for sale The Company executed a sale of loan receivables held for sale of $24.1 million within the Company's Bank Partner network.

Schedule II. Valuation and Qual

Schedule II. Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II. Valuation and Qualifying Accounts	Schedule II. Valuation and Qualifying Accounts GreenSky, Inc. and Subsidiaries Additions Balance at beginning of period Charged to costs and expenses (1) Charged to other accounts (1) Deductions Balance at (in thousands) Year Ended December 31, 2017 Allowance for losses on accounts receivable $ 366 $ 817 $ 16 $ (923) $ 276 Valuation allowance on loan receivables held for sale — 3,551 — (2,967) 584 Year Ended December 31, 2018 Allowance for losses on accounts receivable $ 276 $ 1,294 $ 17 $ (1,419) $ 168 Valuation allowance on loan receivables held for sale 584 2,671 — (2,579) 676 Year Ended December 31, 2019 Allowance for losses on accounts receivable $ 168 $ 950 $ — $ (880) $ 238 Valuation allowance on loan receivables held for sale 676 3,895 — (2,606) 1,965 (1) Includes bad debt recoveries.

Organization, Summary of Sign_2

Organization, Summary of Significant Accounting Policies and New Accounting Standards (Policies)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Unless the context requires otherwise, "we," "us," "our," "GreenSky" and "the Company" refer to GreenSky, Inc. and its subsidiaries. "Bank Partners" are defined as federally insured banks that originate loans under the consumer financing and payments program that we administer for use by merchants on behalf of such banks in connection with which we provide point-of-sale financing and payments technology and related marketing, servicing, collection and other services (the "GreenSky program" or "program"). We are a leading technology company Powering Commerce at the Point of Sale ® . Our platform is powered by a proprietary technology infrastructure that facilitates merchant sales, while reducing the friction and improving the economics associated with a consumer making a purchase and a lender or financial institution extending financing for that purchase. It supports the full transaction lifecycle, including credit application, underwriting, real-time allocation to our Bank Partners, document distribution, funding, settlement and servicing. Merchants using our platform, which presently range from small, owner-operated home improvement contractors and healthcare providers to large national home improvement brands and retailers and healthcare service organizations, rely on us to facilitate low or deferred interest promotional point-of-sale financing and payments solutions that enable higher sales volume. Consumers on our platform, who to date primarily have super-prime or prime credit scores, find financing with promotional terms to be an attractive alternative to other forms of payment. Our Bank Partners' access to our proprietary technology solution and merchant network enables them to build a diversified portfolio of high quality consumer loans with attractive risk-adjusted yields with minimal upfront investment. GreenSky, Inc. was formed as a Delaware corporation on July 12, 2017. The Company was formed for the purpose of completing an initial public offering ("IPO") of its Class A common stock and certain Reorganization Transactions, as further described below, in order to carry on the business of GreenSky Holdings, LLC (“GS Holdings”) and its consolidated subsidiaries. GS Holdings, a holding company with no operating assets or operations, was organized in August 2017. On August 24, 2017, GS Holdings acquired a 100% interest in GreenSky, LLC ("GSLLC"), a Georgia limited liability company, which is an operating entity. Common membership interests of GS Holdings are referred to as "Holdco Units." Immediately prior to our IPO, (i) the operating agreement of GS Holdings (the "GS Holdings Agreement") was amended and restated to, among other things, modify its capital structure by replacing the different classes of membership interests and profits interests with Holdco Units; (ii) we issued to each of the Continuing LLC Members (as defined below) a number of shares of GreenSky, Inc. Class B common stock equal to the number of Holdco Units held by it (other than the Holdco Units that were exchanged in connection with the IPO), for consideration in the amount of $0.001 per share of Class B common stock; (iii) certain Holdco Units were contributed to GreenSky, Inc. in exchange for shares of our Class A common stock; (iv) equity holders of the Former Corporate Investors (as defined below) contributed their equity in the Former Corporate Investors to GreenSky, Inc. in exchange for shares of our Class A common stock and the right to certain payments under the Tax Receivable Agreement ("TRA"), and Former Corporate Investors merged with and into subsidiaries of GreenSky, Inc.; (v) outstanding options to acquire Class A units of GS Holdings were equitably adjusted so that they are exercisable for shares of Class A common stock; and (vi) outstanding warrants to acquire Class A units of GS Holdings were equitably adjusted pursuant to their terms so that they are exercisable for Holdco Units (and an equal number of shares of Class B common stock). We refer to these transactions collectively as the "Reorganization Transactions." Following the Reorganization Transactions, the "Original GS Equity Owners" (other than the Former Corporate Investors) and certain "Original Profits Interests Holders," which we collectively refer to as the "Continuing LLC Members," continue to own Holdco Units. "Original GS Equity Owners" refers to the owners of units of GS Holdings prior to the Reorganization Transactions. "Former Corporate Investors" refers to certain of the Original GS Equity Owners that merged with and into one or more subsidiaries of GreenSky, Inc. in connection with the Reorganization Transactions, which was accounted for as a common control transaction and had no material impact on the net assets of the Company. "Original Profits Interests Holders" refers to the owners of profits interests in GS Holdings prior to the Reorganization Transactions. On May 24, 2018, the Company's Class A common stock commenced trading on the Nasdaq Global Select Market in connection with its IPO of 43,700,000 shares of its Class A common stock at a public offering price of $23.00 per share, receiving approximately $954.8 million in net proceeds, after deducting underwriting discounts and commissions (but not including other offering costs), which were used to purchase 2,426,198 shares of Class A common stock and 41,273,802 newly-issued Holdco Units at a price per unit equal to the price per share of Class A common stock sold in the IPO, less underwriting discounts and commissions. The newly-issued Holdco Units were sold by Continuing LLC Members, which we also refer to as "Exchanging Members." Pursuant to an "Exchange Agreement," the Continuing LLC Members can exchange their Holdco Units (with automatic cancellation of an equal number of shares of Class B common stock) for shares of our Class A common stock on a one-for-one basis, subject to customary adjustments, or for cash (based on the market price of the shares of Class A common stock), at our option (such determination to be made by the disinterested members of our board of directors). The IPO and Reorganization Transactions resulted in the Company becoming the sole managing member of GS Holdings. As the sole managing member of GS Holdings, we operate and control all of GS Holdings’ operations and, through GS Holdings and its subsidiaries, conduct GS Holdings’ business.
Basis of Presentation	Basis of Presentation The Consolidated Financial Statements were prepared in conformity with United States generally accepted accounting principles ("GAAP"). In the opinion of management, the Consolidated Financial Statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair statement of our financial condition and results of operations for the periods presented. All intercompany balances and transactions are eliminated upon consolidation. As the Reorganization Transactions were considered to be among entities under common control resulting in a change in the reporting entity, we retrospectively adjusted the historical Consolidated Financial Statements of GS Holdings as if the common control transaction had occurred as of the earliest period presented. As of and for the year ended December 31, 2019, we created distinct financial statement line items in our Consolidated Financial Statements associated with the contingent component of our financial guarantee as follows: (i) Financial guarantee liability in the Consolidated Balance Sheets (previously presented within other liabilities); (ii) Financial guarantee expense in the Consolidated Statements of Operations (previously presented within general and administrative expense); and (iii) Financial guarantee losses (gains) as an adjustment to reconcile net income to net cash provided by operating activities in the Consolidated Statements of Cash Flows (previously presented within the increase (decrease) in other liabilities). The classification of the financial guarantee liability of $626 as of December 31, 2018, the classification of the financial guarantee expense for the years ended December 31, 2018 and 2017 of $1,607 and $2,781, respectively, and the classification of the financial guarantee losses (gains) for the years ended December 31, 2018 and 2017 of $(94) and $47, respectively, were changed to conform to the current year presentation.
Use of Estimates	Use of Estimates The preparation of our financial statements in conformity with GAAP requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates and assumptions include, but are not limited to, those that relate to fair value measurements, financial guarantees, share-based compensation and income taxes. In developing estimates and assumptions, management uses all available information; however, actual results could materially differ from those estimates and assumptions.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents Cash includes non-interest and interest-bearing demand deposit accounts with various financial institutions. Cash equivalents include money market mutual fund accounts, which are invested in government securities. We consider all highly liquid investments that mature three months or less from the date of purchase to be cash equivalents. The carrying amounts of our cash equivalents approximate their fair values due to their short maturities and highly liquid nature. Refer to Note 3 for additional information. At times, our cash balances may exceed federally insured amounts and potentially subject the Company to a concentration of credit risk. The Company believes that no significant concentration of credit risk exists with respect to these balances based on its assessment of the creditworthiness and financial viability of these financial institutions. Further, our cash equivalents may expose us to credit risk; however, we believe this risk is limited, as the investments are backed by the full faith and credit of the United States government. Restricted Cash
Loan Receivables Held-for-sale	Loan Receivables Held for Sale Loan receivables held for sale represent a 100% participating interest in the loan products that our Bank Partners originate and the Company subsequently purchases the receivable with the intent to sell to a third party at carrying value. Loan receivables held for sale are recorded at fair value at the time a loan receivable is purchased and are subsequently measured at the lower of cost or fair value on an aggregate homogeneous portfolio basis, which is further discussed in “Fair Value of Assets and Liabilities” below. We earn interest income on such loan receivables. Interest, calculated as a percentage of average outstanding principal balance in accordance with the contractual provisions of the loan arrangements, is accrued on a daily basis and collected from the account holder on a monthly basis. Accrued interest receivable and origination costs are deferred in the basis of the loan receivables. When the loan receivables are sold, any previously unrecognized deferred costs are recognized as part of realized gains and losses on sale. Gains and losses from the sale of loan receivables held for sale are included within other income (expense), net in the Consolidated Statements of Operations. We typically retain an economic interest in the sold loan receivables in the form of servicing rights and obligations. The entire balance of a loan receivable held for sale is considered contractually delinquent if the minimum required payment is not received by the first statement cycle date equal to or following the due date specified on the customer’s billing statement. Loan receivables held for sale and accrued interest are marked down to zero and written off when the principal or interest is delinquent for greater than 90 days, with the related expenses recorded as reductions of other gains (losses) and interest income, respectively, which are included within other income (expense), net in the Consolidated Statements of Operations. Valuation adjustments are also taken if loans delinquent less than 90 days are expected to charge off in the future and are recorded to other gains (losses) in the Consolidated Statements of Operations. Recoveries of principal and interest and fees on previously written off loan receivables held for sale are recognized on a collected basis as other gains (losses) and interest income, respectively.
Accounts Receivable	Accounts Receivable Accounts receivable are recorded at their original invoice amounts, which are reduced by any allowance for uncollectible amounts. We establish an allowance for uncollectible amounts when management determines that collectability is uncertain. Accounts receivable are written off once delinquency exceeds 90 days. Recoveries of previously written off accounts receivable are recognized on a collected basis as a reduction to the provision for bad debt expense, which is included within general and administrative expense in the Consolidated Statements of Operations.
Property, Equipment, Software, Depreciation and Amortization	Property, Equipment, Software, Depreciation and Amortization Property, equipment and software includes furniture, leasehold improvements, computer hardware and software and is stated at cost less accumulated depreciation or amortization and any previously recorded impairment. We capitalize qualified costs incurred to develop internal-use software, which primarily include internal and external labor expenses. We also capitalize costs for replacements and major enhancements when it is probable that the expenditures will result in additional functionality or will extend the useful life of existing functionality. Costs for minor replacements, enhancements, maintenance and repairs of internal-use software are expensed as incurred. Depreciation and amortization are recorded on a straight-line basis over the estimated useful lives of the assets, as follows: Asset Category Estimated Useful Lives Computer hardware and software 3 years Furniture 5 years Leasehold improvements Shorter of life of asset or remaining lease term Upon a sale or retirement, the asset cost and related accumulated depreciation or amortization are removed from the Consolidated Balance Sheets and any related gain or loss is included within general and administrative expense in the Consolidated Statements of Operations. We evaluate the carrying amounts of property, equipment and software for impairment on a quarterly basis or whenever events or changes in circumstances indicate that the carrying values may not be recoverable. Impairment losses are included within general and administrative expense in the Consolidated Statements of Operations.
Servicing Assets and Liabilities	Servicing Assets and Liabilities The Company assumes a right, obligation, or neither a right nor obligation to service consumer loans each time a loan is originated by a Bank Partner. Additionally, the Company services Charged-Off Receivables for which we do not charge a servicing fee. The Company identified Bank Partner loans as one class of servicing rights and Charged-Off Receivables as a separate class of servicing rights. In accordance with Accounting Standards Codification ("ASC") 860, Transfers and Servicing , when we determine that the compensation we receive to service loans is more or less than adequate, we assess the fair value of a servicing asset or liability, respectively, using a discounted cash flow model.
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities We have financial assets and liabilities subject to fair value measurement or disclosure on either a recurring or nonrecurring basis. Such measurements or disclosures relate to our cash and cash equivalents, loan receivables held for sale, derivative instruments, servicing assets and liabilities, and term loan. ASC 820, Fair Value Measurement , defines fair value 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. In valuing this asset or liability, we utilize market data or reasonable assumptions that market participants would use, including assumptions about risk and the risks inherent in the inputs to the valuation technique. The guidance provides a three-level valuation hierarchy for disclosure of fair value measurements based on the transparency of inputs to the valuation of an asset or a liability as of the measurement date. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are defined as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3: Unobservable inputs for the asset or liability. An asset’s or a liability’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. We apply the market approach, which uses observable prices and other relevant information that is generated by market transactions involving identical or comparable assets or liabilities, to value our cash and cash
Derivative Instruments	Derivative Instruments We are exposed to interest rate risk on our variable-rate term loan, which we manage by entering into an interest rate swap that is determined to be a derivative in accordance with ASC 815, Derivatives and Hedging . Derivatives are recorded on the balance sheet at fair value and are marked-to-market on a quarterly basis. The accounting for the change in fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate the derivative as a hedge and apply hedge accounting, and whether the hedging relationship continues to satisfy the criteria required to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in cash flows of a recognized asset or liability that is attributable to a particular risk are considered cash flow hedges. The primary purpose of cash flow hedge accounting is to link the income statement recognition of a hedging instrument and a hedged item whose changes in cash flows are expected to offset each other. The change in the fair value of the derivative instrument designated as a cash flow hedge is initially reported as a component of other comprehensive income (loss) and subsequently reclassified into earnings in the same period when the hedged item affects earnings. The reclassification into earnings is reported in the same income statement line item in which the hedged item is reported.
Revenue Recognition	Revenue Recognition In accordance with ASC 606, Revenue from Contracts with Customers , in each of our revenue arrangements outlined below, revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Transaction revenue Transaction fees We earn a specified transaction fee in connection with purchases made by borrowers that are financed by our Bank Partners. The transaction fee is a one-time fee payable by the merchant that includes a merchant fee component and an interchange fee component. In our merchant arrangements, our single performance obligation is to facilitate financing to the merchant’s qualified customers who comply with our Bank Partners’ mandatory underwriting criteria and credit policies. As it relates to our merchant arrangements, we act in the capacity of an agent, as our platform facilitates the arrangement between the merchant and customer (for contracted services) and the arrangement between the Bank Partner and customer (for loan financing) and we do not control either the merchant services or the financing prior to them being transferred to the customer. The merchant fee is calculated by multiplying a set fee percentage (as outlined in a schedule provided to the merchants) by the dollar amount of a loan at the point of origination. As merchant fees are billed to, and collected directly from, the merchant at least monthly, the transaction volume is known and there is no unresolved variable consideration as of the end of a reporting period. We recognize revenue at the point of sale by applying the expected value method, wherein we assign 100% probability to the transaction price as calculated using actual transaction volume. While merchant fee reversals are contractually possible, and would constrain our estimate of variable consideration, they have been historically immaterial. Therefore, we have not recognized a refund liability for these reversals. Our expected value is further adjusted during the month for rebates or price concessions (collectively, "price concessions"), as discussed below. Gross contractual merchant fees may be reduced by volume-based or non-volume-based price concessions to certain merchants and channel partners (which we refer to as "Sponsors"), which are offered to generate transaction volume on the GreenSky platform. As an agent, we recognize merchant fees net of consideration paid to merchants or Sponsors in the form of price concessions, which represents our expected consideration. The price concessions give rise to additional variable consideration at contract inception, which we estimate at the individual merchant level using the expected value method. For merchants and Sponsors receiving monthly or quarterly price concessions, which constitutes the vast majority of our arrangements, it is not probable that a significant reversal in the cumulative amount of revenue recognized would occur, as the uncertainty is resolved by the end of a reporting period. Therefore, the transaction price is not significantly constrained and we assign 100% probability to the transaction price as calculated using actual transaction volume net of actual merchant and Sponsor price concessions. In the limited instances in which we issue annual price concessions, which are based on an annual volume target, we determine the expected value based on quarterly progress and expected future progress (using historical experience) toward achieving the annual volume target. Volume-based price concessions to merchants and Sponsors that were netted against the gross transaction price were $14,805, $9,965, and $6,930 for the years ended December 31, 2019, 2018 and 2017, respectively. Interchange fees are calculated by multiplying a set fee percentage (as stipulated by the credit card payment network) by the transaction volume processed through such network. Transaction volume and related fees payable to the Company are reported to us on a daily basis. Therefore, there is no unresolved variable consideration within a reporting period. Using the expected value method, we assign 100% probability to the transaction price as calculated using actual transaction volume. We satisfy our performance obligation to facilitate financing to our merchants’ qualified customers continuously throughout our contractual terms with our Bank Partners. Our merchants receive and consume the benefits of such performance simultaneously as we perform, which is reflected through the consummation of a purchase by the end customer who obtained financing through the GreenSky platform. Therefore, this performance obligation is satisfied over time and no significant financing component is present, as payment occurs within twelve months of the transfer of control of the related service. Our performance obligation is completely satisfied once a customer’s application has been approved, a credit decision has been reached and a loan has been funded and processed, indicating that a sale has been completed by a merchant on our platform. We measure our progress toward complete satisfaction of this performance obligation using the output method and applying the "right-to-invoice" practical expedient, with transaction volume representing the direct measure that faithfully depicts a completed sale by a merchant on our platform. The value of our service transferred to the merchants is represented by the merchant fee rate, as agreed upon at contract inception, and the interchange fee rate, as stipulated by the credit card payment network. Therefore, we recognize revenue on at least a monthly basis for merchant fees and on a daily basis for interchange fees. We apply the practical expedient related to incremental costs of obtaining a contract. Although certain of our commission costs qualify for capitalization under ASC 340-40, Contracts with customers , their amortization period is less than one year. Therefore, utilizing the practical expedient, we expense these costs as incurred. Servicing and other Servicing fees Servicing fees are contractual fees specified in our servicing agreements with our Bank Partners that are earned from providing professional services to manage loan portfolios on behalf of our Bank Partners, which represents the single performance obligation in this contractual arrangement. The servicing fee is calculated on a monthly basis by multiplying a set fee percentage (as outlined in the contracts with our Bank Partners) by the average outstanding Bank Partner loan portfolio balance. As the average outstanding loan portfolio balance is not known at contract inception, this arrangement contains variable consideration. However, as servicing fees are settled monthly with our Bank Partners, the average outstanding loan portfolio balance is known at each month end. Therefore, the variable consideration within a reporting period is not significantly constrained. Using the expected value method, we assign 100% probability to the transaction price as calculated using the actual average outstanding loan portfolio balance. We satisfy our performance obligation to service the Bank Partners’ loans on a recurring, monthly basis for as long as a loan balance is outstanding. The benefits of our servicing are simultaneously received and consumed by the Bank Partners. Therefore, this performance obligation is satisfied over time and no significant financing component is present, as payment occurs within twelve months of the transfer of control of the related service. We measure our progress toward complete satisfaction of this performance obligation using the output method and applying the "right-to-invoice" practical expedient, with loans outstanding representing the direct measure that faithfully depicts the loans for which control of servicing has transferred to the Bank Partners. The value of our service transferred to the Bank Partners is represented by the servicing fee rate, as agreed upon at contract inception. Therefore, we recognize revenue on a monthly basis upon settling with the Bank Partner.
Share-based Compensation	Share-Based CompensationThe Company issues share-based awards to certain employees and non-employees, which are measured at fair value at the date of grant. The fair value determined at the date of grant is expensed, based on our estimate of awards that will eventually vest, on a straight-line basis over the vesting period. We estimate expected forfeitures based on historical forfeiture behavior. Share-based compensation expense is included within compensation and benefits expense in the Consolidated Statements of Operations.
Income Taxes	Income Taxes Income taxes are provided for in accordance with ASC 740, Income Taxes . Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and the reported amounts in the Consolidated Financial Statements, using the statutory tax rates in effect for the year in which the
Related Party Transactions	Related Party Transactions In the normal course of business, we enter into certain transactions with entities or individuals that are deemed to be affiliated companies or persons under the related party definition in ASC 850, Related Party Disclosures
Recently Adopted Accounting Standards and Accounting Standards Issued But Not Yet Adopted	Recently Adopted Accounting Standards Leases In February 2016, the FASB issued ASU 2016-02, which required the recognition of right-of-use ("ROU") assets and lease liabilities for operating leases with terms greater than 12 months on our Consolidated Balance Sheets. Presentation of leases within our Consolidated Statements of Operations and Consolidated Statements of Cash Flows was generally consistent with the prior lease accounting guidance codified in ASC 840, Leases . In July 2018, the FASB issued ASU 2018-11, which provided an additional (and optional) transition method to adopt ASU 2016-02 by applying its provisions at the adoption date and recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption, rather than applying the provisions at the beginning of the earliest period presented in the financial statements. We adopted the standard as of January 1, 2019 with the transition method outlined in ASU 2018-11, recognizing a cumulative-effect adjustment to retained earnings as of that date. Comparative periods continue to be presented and disclosed in accordance with legacy guidance in ASC 840. We applied the practical expedients permitted under the transition guidance outlined in ASU 2018-11, which permitted us to not reassess the following: (i) whether any expired or existing contracts are or contain a lease, (ii) the lease classification for any expired or existing leases, and (iii) initial direct costs for any existing leases. As a result of adopting this standard, we recorded a ROU asset of $11.3 million, a lease liability of $14.1 million and an immaterial cumulative-effect adjustment to equity as of January 1, 2019. Our adoption of this standard did not have any impact on our Consolidated Statements of Operations. See Note 14 for additional lease disclosures. Improvements to non-employee share-based payment accounting In June 2018, the FASB issued ASU 2018-07 to simplify certain aspects of the accounting for non-employee share-based payment transactions. Under the new standard, all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor's own operations by issuing share-based payment awards are within the scope of ASC 718. Consistent with the accounting requirement for employee share-based payment awards, non-employee share-based payment awards within the scope of ASC 718 are measured at grant date fair value of the equity instruments, and the requirement to reassess classification of non-employee share-based payment awards upon vesting is eliminated. Our adoption of this standard on January 1, 2019 did not have any impact on our Consolidated Financial Statements. Accounting Standards Issued, But Not Yet Adopted Measurement of credit losses on financial instruments In June 2016, the FASB issued ASU 2016-13, which requires upfront recognition of lifetime expected credit losses on certain financial instruments (or groups of financial instruments) using a current expected credit loss ("CECL") model. The standard is intended to better align the recognition of credit losses on financial instruments with management’s expectations of the net amount of principal balance expected to be collected on such financial instruments. In May 2019, the FASB issued ASU 2019-05, which allowed for a one-time irrevocable fair value option election on the date of adoption for certain financial instruments that would otherwise be in the scope of CECL. We do not intend to elect the fair value option for any of our in-scope financial instruments. Under CECL, management must determine expected credit losses for certain financial instruments held at the reporting date based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts, the latter of which broadens current guidance. The standard also requires enhanced financial statement presentation and disclosures to help investors and other financial statement users to better understand the key assumptions and judgments used in estimating credit losses. The standard is effective for us on January 1, 2020. Our primary financial instruments in the scope of CECL include trade receivables and off-balance sheet credit exposures under our financial guarantee arrangements with our Bank Partners. We continue to refine and validate our estimation models and methodology and to develop our related internal processes, policies and controls as we complete our implementation. Upon adoption, we will make a one-time cumulative-effect adjustment to retained earnings as of the effective date. We do not anticipate the impact of the new standard on our measurement of credit losses for trade receivables to be material to our Consolidated Financial Statements. However, we anticipate a material increase to our measurement of the contingent obligation under our financial guarantee arrangements, as the standard does not allow for the measurement to assume future program loan originations to consumers. Historically, our actual cash payments required under the financial guarantee arrangements have been immaterial for our ongoing Bank Partners and we anticipate this to continue to be the case. However, as the CECL model does not allow the inclusion of future loan originations by our Bank Partners, consistent with the modeling of loan losses for any consumer loan portfolio assumed to go into "run-off," we expect to recognize a financial guarantee liability for a significant portion of our $150.4 million escrow (established to provide additional Bank Partner loan loss protection on our $9.2 billion loan servicing portfolio) that is included in our restricted cash balance as of December 31, 2019. Subsequent to our implementation of the standard, additional financial guarantee liabilities will be recorded as new Bank Partner loans are facilitated, along with a corresponding non-cash charge to the Consolidated Statements of Operations. The actual impact of the standard upon adoption will largely depend on the outstanding loan attributes of our loan servicing portfolio and expectations of forecasted information, including certain macroeconomic conditions, at the effective date. Customer's accounting for implementation costs incurred in a cloud computing arrangement that is a service contract In August 2018, the FASB issued ASU 2018-15, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, costs for implementation activities in the application development stage are capitalized depending on the nature of the costs, while costs incurred during the preliminary project and post-implementation stages are expensed as the activities are performed. This standard also requires entities to amortize the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement and to apply the existing impairment guidance in ASC 350-40 to the capitalized implementation costs as if the costs were long-lived assets. The standard clarifies that such capitalized implementation costs are also subject to the guidance on abandonment in ASC 360, Property, Plant, and Equipment . In addition, this standard requires alignment in presentation between: (i) the expense related to the capitalized implementation costs and the fees associated with the hosting element (service) of the arrangement on the statement of operations, (ii) the capitalized implementation costs and any prepayment for the fees of the associated hosting arrangement on the balance sheet, and (iii) the payments for capitalized implementation costs and the payments made for fees associated with the hosting element in the statement of cash flows. The standard is effective for us on January 1, 2020, and we intend to adopt this standard on a prospective basis at the effective date. As such, the impact of our adoption of this standard on our Consolidated Financial Statements will largely depend

Organization, Summary of Sign_3

Organization, Summary of Significant Accounting Policies and New Accounting Standards (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of cash and cash equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total included within the Consolidated Statements of Cash Flows as of the dates indicated. December 31, 2019 2018 2017 Cash and cash equivalents $ 195,760 $ 303,390 $ 224,614 Restricted cash 250,081 155,109 129,224 Cash and cash equivalents and restricted cash in Consolidated Statements of Cash Flows $ 445,841 $ 458,499 $ 353,838
Schedule of restricted cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total included within the Consolidated Statements of Cash Flows as of the dates indicated. December 31, 2019 2018 2017 Cash and cash equivalents $ 195,760 $ 303,390 $ 224,614 Restricted cash 250,081 155,109 129,224 Cash and cash equivalents and restricted cash in Consolidated Statements of Cash Flows $ 445,841 $ 458,499 $ 353,838
Schedule of estimated useful lives	Depreciation and amortization are recorded on a straight-line basis over the estimated useful lives of the assets, as follows: Asset Category Estimated Useful Lives Computer hardware and software 3 years Furniture 5 years Leasehold improvements Shorter of life of asset or remaining lease term Property, equipment and software were as follows as of the dates indicated. December 31, 2019 2018 Furniture $ 2,907 $ 2,813 Leasehold improvements 4,902 4,171 Computer hardware 2,494 2,923 Software 20,126 8,344 Total property, equipment and software, at cost 30,429 18,251 Less: accumulated depreciation (5,701) (5,462) Less: accumulated amortization (6,419) (2,557) Total property, equipment and software, net $ 18,309 $ 10,232
Revenue disaggregated by type of service	Revenue disaggregated by type of service was as follows for the periods presented: Year Ended December 31, 2019 2018 2017 Merchant fees $ 361,755 $ 297,776 $ 234,548 Interchange fees 44,150 51,128 44,410 Transaction fees 405,905 348,904 278,958 Servicing fees (1) 123,697 65,597 46,575 Other (2) 44 172 354 Servicing and other 123,741 65,769 46,929 Total revenue $ 529,646 $ 414,673 $ 325,887 (1) For the year ended December 31, 2019, includes a $30,459 change in fair value of our servicing asset primarily associated with increases to the contractually specified fixed servicing fees for certain Bank Partners. Refer to Note 3 for additional information. (2) Other revenue includes miscellaneous revenue items that are individually immaterial. Other revenue is presented separately herein in order to clearly present merchant, interchange and servicing fees, which are more integral to our primary operations and better enable financial statement users to calculate metrics such as servicing and merchant fee yields.

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule Earnings per Share, Basic and Diluted	The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock for the periods indicated. Year Ended December 31, 2019 2018 Numerator: Income before income tax expense (benefit) $ 88,848 $ 133,514 Less: Net income attributable to GS Holdings prior to Reorganization Transactions — 38,213 Less: Net income attributable to noncontrolling interests after Reorganization Transactions 63,993 65,511 Less: Income tax expense (benefit) (7,125) 5,534 Net income attributable to GreenSky, Inc. – basic $ 31,980 $ 24,256 Add: Reallocation of net income attributable to noncontrolling interests from the assumed exchange of Holdco Units for Class A common stock 63,993 65,511 Less: Income tax expense (benefit) on reallocation of net income attributable to noncontrolling interests (1) 8,189 12,784 Net income attributable to GreenSky, Inc. – diluted $ 87,784 $ 76,983 Denominator: Weighted average shares of Class A common stock outstanding – basic 61,091,514 57,008,324 Add: Dilutive effects, as shown separately below Holdco Units exchangeable for Class A common stock 116,223,055 127,939,939 Class A common stock options 1,876,876 2,984,196 Holdco warrants exchangeable for Class A common stock 82,008 808,961 Unvested Class A common stock (2) 174,592 163,521 Weighted average shares of Class A common stock outstanding – diluted 179,448,045 188,904,941 Earnings per share of Class A common stock outstanding – basic $ 0.52 $ 0.43 Earnings per share of Class A common stock outstanding – diluted $ 0.49 $ 0.41 Excluded from diluted earnings per share, as their inclusion would have been anti-dilutive (3) Unvested Holdco Units 510,878 — Class A common stock options 3,289,299 1,533,029 Unvested Class A common stock 2,040,965 134,170 (1) We assumed effective tax rates of 1.2% and 19.2% for the years ended December 31, 2019 and 2018, respectively, which represent the effective tax rates on the consolidated GreenSky, Inc. entity inclusive of the income taxes on the portion of GS Holdings' earnings that are attributable to noncontrolling interests. The rate for the year ended December 31, 2019 is reflective of the tax benefits from remeasurement of net deferred tax assets, warrant exercises and stock-based compensation deductions. (2) Includes both unvested Class A common stock issued as part of the Reorganization Transactions and unvested Class A common stock awards issued subsequent to the Reorganization Transactions. (3) These amounts represent the number of instruments outstanding at the end of the period. Application of the treasury stock method would reduce these amounts if they had a dilutive effect and were included in the computation of diluted earnings per share.

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Carrying amounts and estimated fair values of assets and liabilities measured at fair value on a recurring or nonrecurring basis	The following table summarizes, by level within the fair value hierarchy, the carrying amounts and estimated fair values of our assets and liabilities measured at fair value on a recurring or nonrecurring basis or disclosed, but not carried, at fair value in the Consolidated Balance Sheets as of the dates presented. There were no transfers into, out of, or between levels within the fair value hierarchy during any of the periods presented. Refer to Note 4, Note 7, Note 8, and Note 9 for additional information on these assets and liabilities. Level December 31, 2019 December 31, 2018 Carrying Fair Carrying Fair Assets: Cash and cash equivalents (1) 1 $ 195,760 $ 195,760 $ 303,390 $ 303,390 Loan receivables held for sale, net (2) 2 51,926 55,958 2,876 3,552 Servicing assets (3) 3 30,459 30,459 — — Liabilities: Finance charge reversal liability (3) 3 $ 206,035 $ 206,035 $ 138,589 $ 138,589 Term loan (1) 2 384,497 392,201 386,822 386,234 Interest rate swap (3) 2 2,763 2,763 — — Servicing liabilities (3) 3 3,796 3,796 3,016 3,016 (1) Disclosed, but not carried, at fair value. (2) Measured at fair value on a nonrecurring basis. (3) Measured and carried at fair value on a recurring basis.
Reconciliation of the beginning and ending fair value measurements of FCR Liability	The following table reconciles the beginning and ending fair value measurements of our FCR liability during the periods indicated. Year Ended December 31, 2019 2018 2017 Beginning balance $ 138,589 $ 94,148 $ 68,064 Receipts (1) 159,527 129,153 109,818 Settlements (2) (262,449) (181,590) (127,029) Fair value changes recognized in cost of revenue (3) 170,368 96,878 43,295 Ending balance $ 206,035 $ 138,589 $ 94,148 (1) Includes: (i) incentive payments from Bank Partners, which is the surplus of finance charges billed to borrowers over an agreed-upon portfolio yield, a fixed servicing fee and realized net credit losses, (ii) cash received from recoveries on previously charged-off Bank Partner loans, and (iii) the proceeds received from transferring our rights to Charged-Off Receivables attributable to previously charged-off Bank Partner loans. We consider all monthly incentive payments from Bank Partners during the period to be related to billed finance charges on deferred interest products until monthly incentive payments exceed total billed finance charges on deferred products, which did not occur during any of the periods presented. (2) Represents the reversal of previously billed finance charges associated with deferred payment loan principal balances that were repaid within the promotional period. (3) A fair value adjustment is made based on the expected reversal percentage of billed finance charges (expected settlements), which is estimated at each reporting date. The fair value adjustment is recognized in cost of revenue in the Consolidated Statements of Operations.
Significant unobservable inputs used to value Level 3 FCR liability	Discount rate : The discount rate reflects the time value of money adjusted for a risk premium. The following table presents quantitative information about the significant unobservable inputs used to value the Level 3 FCR liability as of the dates presented. December 31, 2019 December 31, 2018 Range Weighted Average Range Weighted Average Reversal rate 60.0 – 96.8% 87.5 % 70.0 – 97.3% 88.2 % Discount rate 5.2 % 5.2 % 6.1 % 6.1 %
Charged-Off Receivable transfers	The following table presents details of Charged-Off Receivables transfers during the periods indicated. Aggregate Unpaid Balance Proceeds Bank Partner Loan Total (1) Bank Partner Loan Total Year Ended December 31, 2019 $ 223,024 $ 2,518 $ 225,542 $ 29,190 $ 312 $ 29,502 Year Ended December 31, 2018 201,517 3,263 204,780 26,692 431 27,123 Year Ended December 31, 2017 197,114 4,165 201,279 18,968 406 19,374
Schedule of servicing assets at fair value	The following table reconciles the beginning and ending fair value measurements of our servicing assets associated with Bank Partner loans during the period presented. We did not have any servicing assets for the years ended December 31, 2018 and 2017. Year Ended Beginning balance $ — Additions, net (1) 5,975 Fair value changes recognized in servicing and other revenue (2) 24,484 Ending balance $ 30,459 (1) Includes additions through assumptions of servicing obligations each time a loan is originated on our platform by a Bank Partner, as well as through transfers of loans between Bank Partners or of loan receivables between GreenSky and Bank Partners. Additions are recognized in servicing and other revenue in the Consolidated Statements of Operations. (2) Primarily reflective of increases to the contractually specified fixed servicing fees for certain Bank Partners, which may also contribute to lower incentive payments received in future periods.
Schedule of servicing liabilities at fair value	The following table reconciles the beginning and ending fair value measurements of our servicing liabilities associated with transferring our rights to Charged-Off Receivables during the periods presented. Year Ended December 31, 2019 2018 2017 Beginning balance $ 3,016 $ 2,071 $ — Initial obligation from transfer of Charged-Off Receivables (1) 2,705 2,461 2,379 Fair value changes recognized in other gains (losses), net (2) (1,925) (1,516) (308) Ending balance $ 3,796 $ 3,016 $ 2,071 (1) Recognized in other gains (losses), net in the Consolidated Statements of Operations. (2) Represents the reduction of our servicing liabilities due to the passage of time and collection of loan payments.
Schedule of fair value assumption, servicing assets or liabilities	The following table presents quantitative information about the significant unobservable inputs used to value the Level 3 servicing assets and liabilities as of the dates presented. Input December 31, 2019 December 31, 2018 Range Weighted Average Range Weighted Average Cost of servicing (basis points) (1) 57.5 – 108.0 106.2 62.5 62.5 Discount rate 18.0 % 18.0 % 18.0 % 18.0 % Weighted average remaining life (years) 2.3 – 5.9 2.4 N/A N/A Recovery period (years) 2.6 – 4.9 4.1 3.6 – 4.9 4.3 (1) The cost of servicing assumption as of December 31, 2018 relates only to Charged-Off Receivables, as the fair value measurement of servicing rights associated with Bank Partner loans was immaterial.

Loan Receivables Held for Sale

Loan Receivables Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Activity in the balance of loan receivables held for sale	The following table summarizes the activity in the balance of loan receivables held for sale, net at lower of cost or fair value during the periods indicated. Year Ended December 31, 2019 2018 2017 Beginning balance $ 2,876 $ 73,606 $ 41,268 Additions 157,928 93,240 134,659 Proceeds from sales and borrower payments (1) (104,858) (161,009) (93,044) Loss on sale — — (500) Increase in valuation allowance (1,289) (92) (584) Transfers (2) 251 22 (5,017) Write offs and other (3) (2,982) (2,891) (3,176) Ending balance $ 51,926 $ 2,876 $ 73,606 (1) Includes accrued interest and fees, recoveries of previously charged-off loan receivables held for sale, as well as proceeds from transferring our rights to Charged-Off Receivables attributable to loan receivables held for sale. We retain servicing arrangements on sold loan receivables with the same terms and conditions as loans that are originated by our Bank Partners. Income from loan receivables held for sale activities is recorded within interest income and other gains (losses), net in the Consolidated Statements of Operations. We sold loan receivables held for sale to certain Bank Partners on the following dates during the years ended December 31: 2019 2018 2017 Date Amount Date Amount Date Amount March 27 $ 63,673 May 21 $ 9,552 June 29 $ 17,900 November 1 13,752 June 27 50,614 December 21 54,171 December 27 14,521 September 27 48,176 December 20 30,684 Total $ 91,946 $ 139,026 $ 72,071 (2) We temporarily hold certain loan receivables, which are originated by a Bank Partner, while non-originating Bank Partner eligibility is being determined. Once we determine that a loan receivable meets the investment requirements of an eligible Bank Partner, we transfer the loan receivable to the Bank Partner at cost plus any accrued interest. The reported amount also includes loan receivables that have been placed on non-accrual and non-payment status while we investigate consumer inquiries. (3) We received recovery payments of $50, $57 and $238 during the years ended December 31, 2019, 2018 and 2017, respectively. Recoveries of principal and finance charges and fees on previously written off loan receivables held for sale are recognized on a collected basis as other gains and interest income, respectively, in the Consolidated Statements of Operations. Separately, during the years ended December 31, 2019, 2018, and 2017, write offs and other were reduced by $312, $431, and $406, respectively, related to cash proceeds received from transferring our rights to Charged-Off Receivables attributable to loan receivables held for sale. The cash proceeds received were recorded within other gains (losses), net in the Consolidated Statements of Operations. Accounts receivable consisted of the following as of the dates indicated. Accounts Allowance Accounts December 31, 2019 Transaction related $ 12,863 $ (238) $ 12,625 Servicing related 6,868 — 6,868 Total $ 19,731 $ (238) $ 19,493 December 31, 2018 Transaction related $ 14,704 $ (168) $ 14,536 Servicing related 864 — 864 Total $ 15,568 $ (168) $ 15,400
Activities associated with loan receivable sales and servicing activities	The following table presents activities associated with our loan receivable sales and servicing activities during the periods indicated. Year Ended December 31, 2019 2018 2017 Gain (loss) on sold loan receivables held for sale $ — $ — $ (500) Cash Flows Sales of loans $ 91,946 $ 139,026 $ 72,071 Servicing fees 3,901 2,321 2,821
Principal balances of sold loan receivables	The following tables present information about sold loan receivables held for sale that are not recorded in our Consolidated Balance Sheets, but with which we have a continuing involvement through our servicing arrangements with our Bank Partners. The sold loan receivables held for sale are pooled with other loans originated by the Bank Partners for purposes of determining escrow balances and incentive payments. The escrow balances represent our only direct exposure to potential losses associated with these sold loan receivables. December 31, 2019 2018 Total principal balance $ 326,556 $ 357,060 Delinquent loans (unpaid principal balance) 18,033 23,385 Year Ended December 31, 2019 2018 2017 Net charge-offs (unpaid principal balance) $ 16,333 $ 11,355 $ 8,574

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Activity in the balance of loan receivables held for sale	The following table summarizes the activity in the balance of loan receivables held for sale, net at lower of cost or fair value during the periods indicated. Year Ended December 31, 2019 2018 2017 Beginning balance $ 2,876 $ 73,606 $ 41,268 Additions 157,928 93,240 134,659 Proceeds from sales and borrower payments (1) (104,858) (161,009) (93,044) Loss on sale — — (500) Increase in valuation allowance (1,289) (92) (584) Transfers (2) 251 22 (5,017) Write offs and other (3) (2,982) (2,891) (3,176) Ending balance $ 51,926 $ 2,876 $ 73,606 (1) Includes accrued interest and fees, recoveries of previously charged-off loan receivables held for sale, as well as proceeds from transferring our rights to Charged-Off Receivables attributable to loan receivables held for sale. We retain servicing arrangements on sold loan receivables with the same terms and conditions as loans that are originated by our Bank Partners. Income from loan receivables held for sale activities is recorded within interest income and other gains (losses), net in the Consolidated Statements of Operations. We sold loan receivables held for sale to certain Bank Partners on the following dates during the years ended December 31: 2019 2018 2017 Date Amount Date Amount Date Amount March 27 $ 63,673 May 21 $ 9,552 June 29 $ 17,900 November 1 13,752 June 27 50,614 December 21 54,171 December 27 14,521 September 27 48,176 December 20 30,684 Total $ 91,946 $ 139,026 $ 72,071 (2) We temporarily hold certain loan receivables, which are originated by a Bank Partner, while non-originating Bank Partner eligibility is being determined. Once we determine that a loan receivable meets the investment requirements of an eligible Bank Partner, we transfer the loan receivable to the Bank Partner at cost plus any accrued interest. The reported amount also includes loan receivables that have been placed on non-accrual and non-payment status while we investigate consumer inquiries. (3) We received recovery payments of $50, $57 and $238 during the years ended December 31, 2019, 2018 and 2017, respectively. Recoveries of principal and finance charges and fees on previously written off loan receivables held for sale are recognized on a collected basis as other gains and interest income, respectively, in the Consolidated Statements of Operations. Separately, during the years ended December 31, 2019, 2018, and 2017, write offs and other were reduced by $312, $431, and $406, respectively, related to cash proceeds received from transferring our rights to Charged-Off Receivables attributable to loan receivables held for sale. The cash proceeds received were recorded within other gains (losses), net in the Consolidated Statements of Operations. Accounts receivable consisted of the following as of the dates indicated. Accounts Allowance Accounts December 31, 2019 Transaction related $ 12,863 $ (238) $ 12,625 Servicing related 6,868 — 6,868 Total $ 19,731 $ (238) $ 19,493 December 31, 2018 Transaction related $ 14,704 $ (168) $ 14,536 Servicing related 864 — 864 Total $ 15,568 $ (168) $ 15,400

Property, Equipment and Softw_2

Property, Equipment and Software (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, equipment and software	Depreciation and amortization are recorded on a straight-line basis over the estimated useful lives of the assets, as follows: Asset Category Estimated Useful Lives Computer hardware and software 3 years Furniture 5 years Leasehold improvements Shorter of life of asset or remaining lease term Property, equipment and software were as follows as of the dates indicated. December 31, 2019 2018 Furniture $ 2,907 $ 2,813 Leasehold improvements 4,902 4,171 Computer hardware 2,494 2,923 Software 20,126 8,344 Total property, equipment and software, at cost 30,429 18,251 Less: accumulated depreciation (5,701) (5,462) Less: accumulated amortization (6,419) (2,557) Total property, equipment and software, net $ 18,309 $ 10,232
Schedule of Depreciation, Depletion, Impairment, Abandonment and Amortization	The following table shows depreciation and amortization expense, as well as recorded impairment losses related to abandoned capitalized software projects that are recorded within general and administrative expense in the Consolidated Statements of Operations. We determined that these software projects would not generate future cash flows through use or disposal to a third party and, as such, the fair value as of the respective reporting dates was $0. Year Ended December 31, 2019 2018 2017 Depreciation expense $ 2,540 $ 2,320 $ 2,149 Amortization expense 4,764 2,158 1,834 Impairment losses — 19 78
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated future amortization of software is as follows as of the date indicated. December 31, 2019 2020 $ 6,196 2021 5,051 2022 2,460 Total $ 13,707

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Key details of the term loans	Key details of the term loan are as follows: December 31, 2019 2018 Term loan, face value (1) $ 393,000 $ 397,000 Unamortized debt discount (2) (3,115) (3,728) Unamortized debt issuance costs (2) (5,388) (6,450) Term loan $ 384,497 $ 386,822 (1) The principal balance of the term loan is scheduled to be repaid on a quarterly basis at an amortization rate of 0.25% per quarter through December 31, 2024, with the balance due at maturity. For each of the next five years, principal repayments on the term loan are expected to be $4,000. (2) For the years ended December 31, 2019 and 2018, debt discount of $613 and $593, respectively, and debt issuance costs of $1,062 and $1,091, respectively, were amortized into interest expense in the Consolidated Statements of Operations. Giving effect to the amortization of debt discount and debt issuance costs on the term loan, the effective interest rates were 5.95% and 5.99% during the years ended December 31, 2019 and 2018, respectively.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of notional amounts of outstanding derivative positions	As of December 31, 2019, we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk. Notional Amount Fixed Interest Rate Termination Date Interest rate swap $ 350,000 1.80 % June 30, 2023
Schedule of derivative instruments in statement of financial position, fair value	The following table presents the fair values and Consolidated Balance Sheets locations of our derivative instruments as of the dates indicated. December 31, Balance Sheet Location 2019 2018 Designated as cash flow hedges Interest rate swap Other liabilities $ 2,763 $ — Not designated as hedges FCR liability Finance charge reversal liability $ 206,035 $ 138,589
Derivative instruments, gain (loss)	The following table presents the impacts of our derivative instruments on our Consolidated Statements of Operations for the periods indicated. Year Ended December 31, 2019 2018 2017 Designated as cash flow hedges Interest rate swap – gain (loss) reclassified into interest expense $ 441 $ — $ — Interest rate swap – gain (loss) reclassified into income tax expense 38 — — Not designated as hedges FCR liability – change in fair value recorded in cost of revenue $ 170,368 $ 96,878 $ 43,295
Schedule of accumulated other comprehensive income (loss)	The following table summarizes the changes in the components of accumulated other comprehensive income (loss) associated with our cash flow hedge, which exclude amounts pertaining to noncontrolling interests. There was no accumulated other comprehensive income (loss) activity during the year ended December 31, 2018. Cash Flow Hedge December 31, 2019 Accumulated other comprehensive income (loss), beginning balance $ — Other comprehensive income (loss) before reclassifications and tax (841) Tax (expense) benefit 279 Other comprehensive income (loss) before reclassifications, net of tax (562) Reclassifications out of accumulated other comprehensive income (loss), net of tax expense of $38 (194) Net (increase) decrease in other comprehensive loss (756) Accumulated other comprehensive income (loss), ending balance $ (756)

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Other Liabilities	The following table details the components of other liabilities in the Consolidated Balance Sheets as of the dates indicated. December 31, 2019 2018 Transaction processing liabilities $ 24,465 $ 4,958 Servicing liabilities (1) 3,796 3,016 Distributions payable (2) 5,978 10,066 Interest rate swap (3) 2,763 — Tax related liabilities (4) 873 4,412 Deferred lease liabilities (5) — 2,489 Accruals and other liabilities (6) 9,442 10,110 Other liabilities $ 47,317 $ 35,051 (1) We elected the fair value method to account for our servicing liabilities. Refer to Note 3 for additional information. (2) Related party distributions payable are not included in this balance, but rather are included within related party liabilities. (3) Refer to Note 3 and Note 8 for additional information on our interest rate swap, which was in a liability position as of December 31, 2019. (4) Tax related liabilities primarily include certain taxes payable related to the Reorganization Transactions. (5) Deferred lease liabilities were calculated in accordance with legacy lease guidance in ASC 840, Leases, for the amount presented as of December 31, 2018. Under the new lease guidance codified in ASC 842, Leases , which we adopted on January 1, 2019, we presented operating lease liabilities separately on the Consolidated Balance Sheets as of December 31, 2019. See Note 1 and Note 14 for additional information on our lease accounting. (6) Accruals and other liabilities as of December 31, 2018 was adjusted to exclude the financial guarantee liability to conform to the current period presentation in the Consolidated Balance Sheets. Refer to Note 1 for additional discussion of our basis of presentation.

Stockholders Equity (Deficit) (

Stockholders Equity (Deficit) (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Schedule of dividends declared	The following table summarizes activity associated with our non-tax distributions and payments, as well as our tax distributions during the periods indicated. Year Ended December 31, Remaining Reserved Payment (1) (in millions) 2019 2018 2017 Non-tax distributions previously declared and paid upon vesting Credit Agreement Distributions (2) Distributions $ 2.8 $ 50.7 $ — $ 4.0 Related party payments 0.6 1.1 — — Special Operating Distributions (3) Distributions 1.4 25.5 — 2.0 Related party payments 0.2 1.0 — — Tax distributions 18.5 63.7 71.3 N/A Total $ 23.5 $ 142.0 $ 71.3 $ 6.0 (1) As of December 31, 2019, all remaining portions of the non-tax distributions were recorded within other liabilities in the Consolidated Balance Sheets. (2) See Note 7 for discussion of distributions using the proceeds from our borrowings.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Share-based compensation options activity	Option activity was as follows during the periods indicated: Year Ended December 31, 2019 2018 2017 Number of Weighted Number of Number of Outstanding at beginning of period 8,053,292 $ 5.25 9,821,890 10,006,890 Granted prior to Reorganization Transactions and IPO (1) N/A N/A 340,000 500,000 Exercised prior to Reorganization Transactions and IPO (2)(3) N/A N/A (270,000) (202,000) Forfeited prior to Reorganization Transactions and IPO N/A N/A (260,000) (483,000) Effect of Reorganization Transactions and IPO N/A N/A (186,772) N/A Granted after Reorganization Transactions and IPO (1) 1,610,407 11.41 1,114,029 N/A Exercised after Reorganization Transactions and IPO (2)(3) (5,192,471) 1.76 (2,171,284) N/A Forfeited after Reorganization Transactions and IPO (258,819) 13.32 (321,506) N/A Expired after Reorganization Transactions and IPO (4) (30,500) 17.25 (13,065) N/A Outstanding at end of period (5) 4,181,909 $ 11.36 8,053,292 9,821,890 Exercisable at end of period (5)(6) 1,262,998 $ 7.24 5,364,233 7,015,000 (1) Weighted average grant date fair value of Options granted during the years ended December 31, 2019, 2018 and 2017 was $3.38, $6.06 and $3.52, respectively. (2) The total intrinsic value of Options exercised, which is defined as the amount by which the market value of the stock on the date of exercise exceeds the exercise price, during the years ended December 31, 2019, 2018 and 2017 was $27.7 million, $15.4 million and $0.4 million, respectively. (3) Employees paid $0.3 million to the Company during the year ended December 31, 2019 to exercise Options, which resulted in the issuance of 37,497 shares of Class A common stock. Additionally, during the year ended December 31, 2019, 5,154,964 Options were exercised by means of a cashless net exercise procedure, which resulted in the issuance of 2,236,095 shares of Class A common stock. The Company paid withholding taxes of $12.4 million during the year ended December 31, 2019 related to cashless Option exercises. Employees paid $0.4 million to the Company during the year ended December 31, 2018 to exercise GS Holdings options, which resulted in the issuance of 30,516 Holdco Units. Additionally, during the year ended December 31, 2018, 2,372,936 GS Holdings options were exercised by means of a cashless net exercise procedure, which resulted in the issuance of 38,637 Holdco Units prior to the Reorganization Transactions and IPO and the issuance of 1,027,377 shares of Class A common stock subsequent to the Reorganization Transactions and IPO. The Company paid withholding taxes of $5.4 million during the year ended December 31, 2018 related to cashless Option exercises, inclusive of exercises both prior and subsequent to the Reorganization Transactions and IPO. The Company recognized a tax benefit of $2.9 million and $0.9 million during the years ended December 31, 2019 and 2018, respectively, related to Options exercised. (4) Expired Options represent vested underwater Options that were not exercised by terminated employees within 30 days from the employment termination date, as stipulated in the Option award agreements. (5) The aggregate intrinsic value and weighted average remaining contractual terms of Options outstanding and Options exercisable were as follows as of the date indicated: December 31, 2019 Aggregate intrinsic value (in millions) Options outstanding $ 4.8 Options exercisable $ 3.7 Weighted average remaining term (in years) Options outstanding 7.6 Options exercisable 5.6
Schedule of intrinsic value and weighted average remaining contractual terms	The aggregate intrinsic value and weighted average remaining contractual terms of Options outstanding and Options exercisable were as follows as of the date indicated: December 31, 2019 Aggregate intrinsic value (in millions) Options outstanding $ 4.8 Options exercisable $ 3.7 Weighted average remaining term (in years) Options outstanding 7.6 Options exercisable 5.6
Schedule of inputs and assumptions used for valuation of options	The following inputs and assumptions were used to value the Options as of the grant dates: Year Ended December 31, 2019 2018 2017 Risk-free interest rate 1.50 – 2.50% 2.77 – 3.06% 2.03 – 2.23% Expected volatility (1) 22.45 – 24.40% 23.10 – 25.70% 23.90 – 44.40% Expected dividend yield (2) —% —% —% Expected term (in months) (3) 75 75 – 78 78 Fair value of Options $1.77 – $3.78 $2.95 – $7.14 $2.69 – $4.99 (1) We estimated volatility based on historical volatility rates of a peer group of public payment processing companies over a period that approximates the expected term. (2) We assumed a dividend yield of zero as we have no plans to declare dividends for the foreseeable future. (3) We determined the expected term as the midpoint between the scheduled vesting and expiration dates of the awards. We used the simplified method primarily due to having insufficient historical Option exercise experience upon which to reasonably estimate an expected term. The following inputs and assumptions were used to value the profits interests (limited to profits interests without an associated Capped Option) as of the grant dates. Year Ended December 31, 2018 2017 Risk-free interest rate 2.60 – 2.63% 1.80 – 2.18% Expected volatility (1) 25.70% 23.90 – 24.80% Expected dividend yield (2) —% —% Expected term (in months) (3) 54 – 60 60 Fair value of profits interests $3.92 – $5.91 $2.28 – $4.01 (1) We estimated volatility based on historical volatility rates of a peer group of public payment processing companies over a period that approximates the expected term. (2) We assumed a dividend yield of zero as we have no plans to declare dividends for the foreseeable future.
Schedule of other share-based activity	Profits interests activity was as follows during the years indicated: Year Ended December 31, 2018 2017 Number of Number of Outstanding at beginning of period 14,061,530 12,616,890 Granted prior to Reorganization Transactions and IPO (1) 2,920,000 2,374,640 Forfeited prior to Reorganization Transactions and IPO (800,000) (930,000) Redeemed prior to Reorganization Transactions and IPO — — Effect of Reorganization Transactions and IPO (16,181,530) N/A Outstanding at end of period (2) — 14,061,530 (1) Weighted average grant date fair value of profits interests granted during the years ended December 31, 2018 and 2017 was $4.47 and $3.49, respectively. (2) The total fair value based on grant date fair value of profits interests that vested was $0.4 million and $2.4 million during the years ended December 31, 2018 and 2017, respectively.
Schedule of nonvested unit activity	Unvested Holdco Units activity was as follows during the years indicated: Year Ended December 31, 2019 Year Ended December 31, 2018 Number of Holdco Units Weighted Average Grant Date Fair Value Number of Holdco Units Unvested at beginning of period 2,514,856 $ 23.00 — Effect of Reorganization Transactions and IPO N/A N/A 3,172,843 Forfeited (301,735) 23.00 (156,739) Vested (1) (1,100,514) 23.00 (501,248) Unvested at end of period 1,112,607 $ 23.00 2,514,856 (1) The total fair value, based on grant date fair value, of previously unvested Holdco Units that vested during the years ended December 31, 2019 and 2018 was $25.3 million and $11.5 million, respectively. Unvested Class A common stock activity was as follows during the years indicated: Year Ended Year Ended Class A common stock Weighted Average Grant Date Fair Value Class A common stock Unvested at beginning of period 454,561 $ 19.08 — Effect of Reorganization Transactions and IPO N/A N/A 255,904 Granted (1) 2,887,905 10.90 234,829 Forfeited (2) (210,845) 13.94 (11,750) Vested (3) (132,278) 19.84 (24,422) Unvested at end of period 2,999,343 $ 11.53 454,561 (1) Weighted average grant date fair value of restricted stock awards granted during the year ended December 31, 2018 was $15.37. (2) Forfeited shares of unvested Class A common stock associated with restricted stock awards are held in our treasury stock account. Refer to Note 11 for additional information on our treasury stock. (3) The total fair value, based on grant date fair value, of previously unvested Class A common stock that vested during the years ended December 31, 2019 and 2018 was $2.6 million and $0.6 million, respectively.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Components of income tax expense consisted of the following for the years indicated: Year Ended December 31, 2019 2018 Current income tax expense (benefit): Federal $ 5 $ 4 State 10 5 Deferred income tax expense (benefit): Federal 4,206 4,860 State (11,346) 665 Income tax expense (benefit) $ (7,125) $ 5,534
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the United States statutory income tax rate to the Company's effective income tax rate is as follows for the years indicated: Year Ended December 31, 2019 2018 2017 Statutory federal tax rate 21.0 % 21.0 % 35.0 % Income attributable to noncontrolling interests and nontaxable income (15.2) (16.3) (35.0) State income taxes, net of federal benefit 0.6 0.4 — State rate change impact on deferred taxes (13.0) — — Remeasurement of liability under tax receivable agreement 2.3 — — Excess tax benefits related to share-based compensation (3.3) — — Other (0.4) (1.0) — Effective income tax rate (8.0) % 4.1 % — %
Schedule of Deferred Tax Assets and Liabilities	Details of the Company’s deferred tax assets and liabilities are as follows: Year Ended December 31, 2019 2018 Deferred tax assets: Investment in partnership $ 358,024 $ 299,466 Net operating loss carryforwards and tax credits 5,160 5,634 Other 1,657 1,879 Total 364,841 306,979 Valuation allowance — — Total deferred tax assets 364,841 306,979 Total deferred tax liabilities — — Deferred tax assets, net $ 364,841 $ 306,979
Summary of Income Tax Contingencies	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years indicated. The Company did not have uncertain tax benefits during the year ended December 31, 2017 because, prior to the Reorganization Transactions, the Company was not subject to corporate tax. Year Ended December 31, 2019 2018 Beginning balance $ 3,377 $ — Increase related to Reorganization Transactions — 1,085 Increase related to current year tax positions 53 2,292 Decrease related to current year tax positions (3,376) — Ending balance $ 54 $ 3,377

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Supplemental cash flow and noncash information	Supplemental cash flow and noncash information related to our operating leases were as follows for the year indicated. Year Ended Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows from operating leases $ 4,241 Noncash operating lease ROU assets obtained in exchange for operating lease liabilities Resulting from our adoption of ASU 2016-02 $ 11,279 Resulting from new or modified leases 2,975
Supplemental balance sheet information	Supplemental balance sheet information related to our operating leases was as follows as of the date indicated. December 31, 2019 Operating lease ROU assets $ 11,268 Operating lease liabilities $ 13,884 Weighted average remaining lease term (in years) 3.3 Weighted average discount rate 5.7 %
Schedule of maturities of operating lease liabilities	For the periods presented, maturities of operating lease liabilities as of the date indicated and a reconciliation of the total undiscounted cash flows to the operating lease liabilities in the Consolidated Balance Sheets, were as follows in accordance with ASC 842: December 31, 2019 2020 $ 4,491 2021 4,892 2022 3,704 2023 1,501 2024 810 Thereafter — Total lease payments $ 15,398 Less: imputed interest (1,514) Operating lease liabilities $ 13,884

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Consolidated Statements of Operations effects associated with our related party financing arrangements were as follows during the years indicated: Year Ended December 31, 2018 2017 Servicing and other $ 54 $ 146 Related party expenses (1) — 428 (1) Expenses incurred related to related party bank partner credit losses.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	Below are tabular disclosures that provide insight into how GS Holdings affects GreenSky, Inc.’s financial position, performance and cash flows. Prior to the IPO and Reorganization Transactions, GreenSky, Inc. did not have any variable interest in GS Holdings. The following table presents the balances related to GS Holdings that are included in the Consolidated Balance Sheets as of the dates indicated, inclusive of GreenSky, Inc.'s interest in the variable interest entity. December 31, 2019 2018 Assets Cash and cash equivalents $ 177,730 $ 294,364 Restricted cash 250,081 155,109 Loan receivables held for sale, net 51,926 2,876 Accounts receivable, net 19,493 15,400 Related party receivables 156 142 Property, equipment and software, net 18,309 10,232 Operating lease right-of-use assets 11,268 — Other assets 38,224 7,448 Total assets $ 567,187 $ 485,571 Liabilities and Members Equity (Deficit) Liabilities Accounts payable $ 11,912 $ 5,357 Accrued compensation and benefits 10,734 8,484 Other accrued expenses 3,244 1,015 Finance charge reversal liability 206,035 138,589 Term loan 384,497 386,822 Related party liabilities — 825 Operating lease liabilities 13,884 — Financial guarantee liability 16,698 626 Other liabilities 46,444 30,638 Total liabilities $ 693,448 $ 572,356 Members Equity (Deficit) Equity (deficit) attributable to Continuing LLC Members (80,758) (60,349) Equity (deficit) attributable to GreenSky, Inc. (45,503) (26,436) Total members equity (deficit) (126,261) (86,785) Total liabilities and members equity (deficit) $ 567,187 $ 485,571 The following table reflects the impact of consolidation of GS Holdings into the Consolidated Statements of Operations for the years indicated. Year Ended December 31, 2019 2018 Total revenue $ 529,646 $ 414,673 Total costs and expenses 408,693 261,883 Operating profit 120,953 152,790 Total other income (expense), net (22,297) (19,276) Net income $ 98,656 $ 133,514 The following table reflects the cash flow impact of GS Holdings on the Consolidated Statements of Cash Flows for the years indicated. Year Ended December 31, 2019 2018 Net cash provided by operating activities $ 153,327 $ 256,426 Net cash used in investing activities (15,381) (6,581) Net cash used in financing activities (159,608) (154,210) Net increase (decrease) in cash and cash equivalents and restricted cash (21,662) 95,635 Cash and cash equivalents and restricted cash at beginning of period 449,473 353,838 Cash and cash equivalents and restricted cash at end of period $ 427,811 $ 449,473

Quarterly Consolidated Result_2

Quarterly Consolidated Results of Operations Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	Year Ended December 31, 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Total Total revenue $ 103,700 $ 138,695 $ 153,415 $ 133,836 $ 529,646 Cost of revenue (exclusive of depreciation and amortization) 58,037 56,228 64,957 69,358 248,580 Total costs and expenses 92,212 92,189 101,017 123,275 408,693 Operating profit 11,488 46,506 52,398 10,561 120,953 Total other income (expense), net (4,682) (11,779) (6,790) (8,854) (32,105) Income before income tax expense (benefit) 6,806 34,727 45,608 1,707 88,848 Net income 7,401 39,193 44,075 5,304 95,973 Less: Net income attributable to noncontrolling interests 4,502 26,877 29,349 3,265 63,993 Net income attributable to GreenSky, Inc. 2,899 12,316 14,726 2,039 31,980 Earnings per share of Class A common stock: Basic $ 0.05 $ 0.20 $ 0.24 $ 0.03 $ 0.52 Diluted (1) $ 0.05 $ 0.19 $ 0.23 $ 0.03 $ 0.49 Year Ended December 31, 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Total Total revenue $ 85,326 $ 105,704 $ 113,912 $ 109,731 $ 414,673 Cost of revenue (exclusive of depreciation and amortization) 36,130 33,765 35,374 55,170 160,439 Total costs and expenses 61,749 58,896 59,655 81,583 261,883 Operating profit 23,577 46,808 54,257 28,148 152,790 Total other income (expense), net (4,973) (4,398) (5,170) (4,735) (19,276) Income before income tax expense (benefit) 18,604 42,410 49,087 23,413 133,514 Net income 18,604 40,816 45,712 22,848 127,980 Less: Net income attributable to noncontrolling interests 18,604 35,266 33,711 16,143 103,724 Net income attributable to GreenSky, Inc. N/A 5,550 12,001 6,705 24,256 Earnings per share of Class A common stock: Basic N/A $ 0.10 $ 0.21 $ 0.12 $ 0.43 Diluted (1) N/A $ 0.09 $ 0.20 $ 0.11 $ 0.41

Organization, Summary of Sign_4

Organization, Summary of Significant Accounting Policies and New Accounting Standards - Narrative (Details) $ / shares in Units, $ in Thousands	May 24, 2018USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)	Jan. 01, 2019USD ($)	May 23, 2018$ / shares	Aug. 24, 2017
Subsidiary, Sale of Stock [Line Items]
Financial guarantee liability		$ 16,698	$ 626
Financial guarantee expenses		$ 20,699	1,607	$ 2,781
Participating interest in loans receivable held for sale		100.00%
Volume-based rebates for merchants and sponsors		$ 14,805	9,965	6,930
Bad debt expense		950	$ 1,294	$ 817
Operating lease right-of-use assets		11,268
Operating lease liabilities		13,884
Loan servicing portfolio		9,200,000
Financial Guarantee
Subsidiary, Sale of Stock [Line Items]
Financial guarantee liability		16,700
Possible losses as guarantor, maximum		$ 150,400
Accounting Standards Update 2016-02
Subsidiary, Sale of Stock [Line Items]
Operating lease right-of-use assets					$ 11,300
Operating lease liabilities					$ 14,100
Exchange of Holdco Units for Class A common stock pursuant to the Exchange Agreement
Subsidiary, Sale of Stock [Line Items]
Exchange ratio	1
Class B common stock
Subsidiary, Sale of Stock [Line Items]
Common stock par value (in dollars per share) | $ / shares		$ 0.001	$ 0.001			$ 0.001
Class A common stock
Subsidiary, Sale of Stock [Line Items]
Common stock par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Class A common stock | IPO
Subsidiary, Sale of Stock [Line Items]
Number of shares sold | shares	43,700,000
Price per share (in dollars per share) | $ / shares	$ 23
Net proceeds, after deducting underwriting discounts and commissions	$ 954,800
Class A common stock | GS Holdings | Sale Of Stock To Parent Company
Subsidiary, Sale of Stock [Line Items]
Number of shares purchased by company (in shares) | shares	2,426,198
Newly-issued common units | GS Holdings | Sale Of Stock To Parent Company
Subsidiary, Sale of Stock [Line Items]
Number of shares purchased by company (in shares) | shares	41,273,802
GreenSky, LLC | GS Holdings
Subsidiary, Sale of Stock [Line Items]
Economic interest (as a percent)							100.00%
GS Holdings
Subsidiary, Sale of Stock [Line Items]
Economic interest (as a percent)		36.90%	30.00%

Organization, Summary of Sign_5

Organization, Summary of Significant Accounting Policies and New Accounting Standards - Cash and restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 195,760	$ 303,390	$ 224,614
Restricted cash	250,081	155,109	129,224
Cash and cash equivalents and restricted cash in Consolidated Statements of Cash Flows	$ 445,841	$ 458,499	$ 353,838	$ 228,114

Organization, Summary of Sign_6

Organization, Summary of Significant Accounting Policies and New Accounting Standards - Estimated useful life (Details)	12 Months Ended
	Dec. 31, 2019
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years

Organization, Summary of Sign_7

Organization, Summary of Significant Accounting Policies and New Accounting Standards - Revenue disaggregated by type of service (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Total revenue	$ 133,836	$ 153,415	$ 138,695	$ 103,700	$ 109,731	$ 113,912	$ 105,704	$ 85,326	$ 529,646	$ 414,673	$ 325,887
Changes in fair value of servicing assets									24,484
Transaction fees
Disaggregation of Revenue [Line Items]
Total revenue									405,905	348,904	278,958
Merchant fees
Disaggregation of Revenue [Line Items]
Total revenue									361,755	297,776	234,548
Interchange fees
Disaggregation of Revenue [Line Items]
Total revenue									44,150	51,128	44,410
Servicing and other
Disaggregation of Revenue [Line Items]
Total revenue									123,741	65,769	46,929
Servicing fees
Disaggregation of Revenue [Line Items]
Total revenue									123,697	65,597	46,575
Changes in fair value of servicing assets									30,459
Other
Disaggregation of Revenue [Line Items]
Total revenue									$ 44	$ 172	$ 354

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Numerator:
Income before income tax expense (benefit)	$ 1,707	$ 45,608	$ 34,727	$ 6,806	$ 23,413	$ 49,087	$ 42,410	$ 18,604	$ 88,848		$ 133,514	$ 138,668
Less: Net income attributable to GS Holdings prior to Reorganization Transactions									0		38,213
Less: Net income attributable to noncontrolling interests after Reorganization Transactions									63,993		65,511
Income tax expense (benefit)									(7,125)		5,534	$ 0
Net income attributable to GreenSky, Inc. – basic									31,980		24,256
Less: Income tax expense (benefit) on reallocation of net income attributable to noncontrolling interests(1)									8,189		12,784
Net income attributable to GreenSky, Inc. – diluted									$ 87,784		$ 76,983
Denominator:
Weighted average shares of Class A common stock outstanding - basic (in shares)									61,091,514		57,008,324
Add: Dilutive effects, as shown separately below
Holdco warrants exchangeable for Class A common stock (in shares)									82,008		808,961
Weighted average shares of Class A common stock outstanding - diluted (in shares)									179,448,045		188,904,941
Earnings per share of Class A common stock outstanding - basic (in dollars per share)	$ 0.03	$ 0.24	$ 0.20	$ 0.05	$ 0.12	$ 0.21	$ 0.10		$ 0.52	[1]	$ 0.43
Earnings per share of Class A common stock outstanding - diluted (in dollars per share)	$ 0.03	$ 0.23	$ 0.19	$ 0.05	$ 0.11	$ 0.20	$ 0.09		$ 0.49	[1]	$ 0.41
Effective income tax rate (as a percent)									(8.00%)		4.10%	0.00%
Noncontrolling Interest
Add: Dilutive effects, as shown separately below
Effective income tax rate (as a percent)									1.20%		19.20%
HoldCo Units
Add: Dilutive effects, as shown separately below
Holdco Units that are exchangeable for Class A common stock (in shares)									116,223,055		127,939,939
Class A common stock
Add: Dilutive effects, as shown separately below
Dilutive effect of share based compensation awards (in shares)									1,876,876		2,984,196
Antidilutive securities excluded from computation of earnings per share (in shares)									3,289,299		1,533,029
Unvested Class A stock awards
Add: Dilutive effects, as shown separately below
Dilutive effect of share based compensation awards (in shares)									174,592		163,521
Antidilutive securities excluded from computation of earnings per share (in shares)									2,040,965		134,170
Unvested HoldCo Units
Add: Dilutive effects, as shown separately below
Antidilutive securities excluded from computation of earnings per share (in shares)									510,878		0
[1]	For the year ended December 31, 2018, basic and diluted earnings per share of Class A common stock are applicable only for the period from May 24, 2018 through December 31, 2018, which is the period following the initial public offering ("IPO") and related Reorganization Transactions (as defined in Note 1 to the Notes to Consolidated Financial Statements). See Note 2, Earnings per Share, to the Notes to Consolidated Financial Statements for the number of shares used in the computation of earnings per share of Class A common stock and the basis for the computation of earnings per share.

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Carrying amounts and estimated fair values of assets and liabilities measured at fair value on a recurring or nonrecurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets:
Cash and cash equivalents	$ 195,760	$ 303,390	$ 224,614
Liabilities:
Finance charge reversal liability	206,035	138,589
Interest rate swap	2,763	0
Carrying Value | Measured at fair value on a recurring basis | Level 2
Liabilities:
Interest rate swap	2,763	0
Carrying Value | Measured at fair value on a recurring basis | Level 3
Assets:
Servicing assets	30,459	0
Liabilities:
Finance charge reversal liability	206,035	138,589
Servicing liability	3,796	3,016
Carrying Value | Measured at fair value on a nonrecurring basis | Level 1
Assets:
Cash and cash equivalents	195,760	303,390
Carrying Value | Measured at fair value on a nonrecurring basis | Level 2
Assets:
Loan receivables held for sale, net	51,926	2,876
Liabilities:
Term loan	384,497	386,822
Fair Value | Measured at fair value on a recurring basis | Level 2
Liabilities:
Interest rate swap	2,763	0
Fair Value | Measured at fair value on a recurring basis | Level 3
Assets:
Servicing assets	30,459	0
Liabilities:
Finance charge reversal liability	206,035	138,589
Servicing liability	3,796	3,016
Fair Value | Measured at fair value on a nonrecurring basis | Level 1
Assets:
Cash and cash equivalents	195,760	303,390
Fair Value | Measured at fair value on a nonrecurring basis | Level 2
Assets:
Loan receivables held for sale, net	55,958	3,552
Liabilities:
Term loan	$ 392,201	$ 386,234

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing fees	$ 93,238,000	$ 65,597,000	$ 46,575,000
Collection efforts period	5 years
Cash flow hedging | Interest rate swap
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Notional Amount	$ 350,000,000			$ 350,000,000
Term of agreement	4 years

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Reconciliation of the beginning and ending fair value measurements of FCR Liability (Details) - Finance charge reversals - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning balance	$ 138,589	$ 94,148	$ 68,064
Receipts	159,527	129,153	109,818
Settlements	(262,449)	(181,590)	(127,029)
Fair value changes recognized in cost of revenue	170,368	96,878	43,295
Ending balance	$ 206,035	$ 138,589	$ 94,148

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities - Significant unobservable inputs used to value Level 3 FCR liability (Details)	Dec. 31, 2019	Dec. 31, 2018
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Inputs used to value the Level 3 FCR liability	0.052	0.061
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Inputs used to value the Level 3 FCR liability	600	0.700
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Inputs used to value the Level 3 FCR liability	968	0.973
Weighted Average | Reversal rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Inputs used to value the Level 3 FCR liability	0.875	0.882
Weighted Average | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Inputs used to value the Level 3 FCR liability	0.052	0.061

Fair Value of Assets and Liab_7

Fair Value of Assets and Liabilities - Charged-Off Receivable transfers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Transfer of Financial Assets Accounted for as Sales [Line Items]
Aggregate Unpaid Balance	$ 225,542	$ 204,780	$ 201,279
Proceeds	29,502	27,123	19,374
Amount recovered on transferred Charged-Off Receivables	22,245	14,940	2,966
Bank Partner loans
Transfer of Financial Assets Accounted for as Sales [Line Items]
Aggregate Unpaid Balance	223,024	201,517	197,114
Proceeds	29,190	26,692	18,968
Loan receivables held for sale
Transfer of Financial Assets Accounted for as Sales [Line Items]
Aggregate Unpaid Balance	2,518	3,263	4,165
Proceeds	$ 312	$ 431	$ 406

Fair Value of Assets and Liab_8

Fair Value of Assets and Liabilities - Servicing assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Servicing Asset at Fair Value, Amount [Roll Forward]
Beginning balance	$ 0
Additions, net	5,975
Fair value changes recognized in servicing and other revenue(	24,484
Ending balance	$ 30,459

Fair Value of Assets and Liab_9

Fair Value of Assets and Liabilities - Servicing liabilities and unobservable inputs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Servicing Liability at Fair Value, Amount
Beginning balance	$ 3,016	$ 2,071	$ 0
Initial obligation from transfer of Charged-Off Receivables	2,705	2,461	2,379
Other changes in fair value	(1,925)	(1,516)	(308)
Ending balance	$ 3,796	$ 3,016	$ 2,071
Servicing Liabilities at Fair Value [Line Items]
Cost of servicing (basis points)		0.625%
Discount rate	18.00%	18.00%
Weighted Average
Servicing Liabilities at Fair Value [Line Items]
Cost of servicing (basis points)	1.062%	0.625%
Discount rate	18.00%	18.00%
Weighted average remaining life (years)	2 years 4 months 24 days
Recovery period (years)	4 years 1 month 6 days	4 years 3 months 18 days
Minimum
Servicing Liabilities at Fair Value [Line Items]
Cost of servicing (basis points)	0.575%
Weighted average remaining life (years)	2 years 3 months 18 days
Recovery period (years)	2 years 7 months 6 days	3 years 7 months 6 days
Maximum
Servicing Liabilities at Fair Value [Line Items]
Cost of servicing (basis points)	1.08%
Weighted average remaining life (years)	5 years 10 months 24 days
Recovery period (years)	4 years 10 months 24 days	4 years 10 months 24 days

Loan Receivables Held for Sal_2

Loan Receivables Held for Sale - Activity in the balance of loan receivables held for sale (Details) - USD ($) $ in Thousands	Dec. 27, 2019	Nov. 01, 2019	Mar. 27, 2019	Dec. 20, 2018	Sep. 27, 2018	Jun. 27, 2018	May 21, 2018	Dec. 21, 2017	Jun. 29, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow
Beginning balance										$ 2,876	$ 73,606	$ 41,268
Additions										157,928	93,240	134,659
Proceeds from sales and customer payments										(104,858)	(161,009)	(93,044)
Gain (loss) on sold loan receivables held for sale										0	0	(500)
Increase in valuation allowance										(1,289)	(92)	(584)
Transfers										251	22	(5,017)
Write offs and other										(2,982)	(2,891)	(3,176)
Ending balance										51,926	2,876	73,606
Sales of loans	$ 14,521	$ 13,752	$ 63,673	$ 30,684	$ 48,176	$ 50,614	$ 9,552	$ 54,171	$ 17,900	91,946	139,026	72,071
Recovery payments received										50	57	238
Proceeds										29,502	27,123	19,374
Loan receivables held for sale
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow
Proceeds										$ 312	$ 431	$ 406

Loan Receivables Held for Sal_3

Loan Receivables Held for Sale - Activities associated with loan receivable sales and servicing activities (Details) - USD ($) $ in Thousands	Dec. 27, 2019	Nov. 01, 2019	Mar. 27, 2019	Dec. 20, 2018	Sep. 27, 2018	Jun. 27, 2018	May 21, 2018	Dec. 21, 2017	Jun. 29, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Gain (loss) on sold loan receivables held for sale										$ 0	$ 0	$ (500)
Cash Flows
Sales of loans	$ 14,521	$ 13,752	$ 63,673	$ 30,684	$ 48,176	$ 50,614	$ 9,552	$ 54,171	$ 17,900	91,946	139,026	72,071
Servicing fees										$ 3,901	$ 2,321	$ 2,821

Loan Receivables Held for Sal_4

Loan Receivables Held for Sale - Principal balances of sold loan receivables (Details) - Bank Partners - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total principal balance	$ 326,556	$ 357,060
Delinquent loans (unpaid principal balance)	18,033	23,385
Net charge-offs (unpaid principal balance)	$ 16,333	$ 11,355	$ 8,574

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross	$ 19,731	$ 15,568
Allowance for Losses	(238)	(168)
Accounts receivable, net	19,493	15,400
Transaction related
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross	12,863	14,704
Allowance for Losses	(238)	(168)
Accounts receivable, net	12,625	14,536
Servicing related
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross	6,868	864
Allowance for Losses	0	0
Accounts receivable, net	$ 6,868	$ 864

Property, Equipment and Softw_3

Property, Equipment and Software (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Software	$ 20,126	$ 8,344
Total property, equipment and software, at cost	30,429	18,251
Less: accumulated depreciation	(5,701)	(5,462)
Less: accumulated amortization	(6,419)	(2,557)
Total property, equipment and software, net	18,309	10,232
Furniture
Property, Plant and Equipment [Line Items]
Total property, equipment and software, at cost	2,907	2,813
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, equipment and software, at cost	4,902	4,171
Computer hardware
Property, Plant and Equipment [Line Items]
Total property, equipment and software, at cost	$ 2,494	$ 2,923

Property, Equipment and Softw_4

Property, Equipment and Software - Schedule of depreciation, depletion and amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Capitalized software, fair value	$ 0
Depreciation expense	2,540	$ 2,320	$ 2,149
Amortization expense	4,764	2,158	1,834
Impairment losses	$ 0	$ 19	$ 78

Property, Equipment and Softw_5

Property, Equipment and Software - Schedule of future amortization expense (Details) $ in Thousands	Dec. 31, 2019USD ($)
Property, Plant and Equipment [Abstract]
2020	$ 6,196
2021	5,051
2022	2,460
Total	$ 13,707

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($)	May 23, 2018	Mar. 31, 2018	Aug. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2019
Interest rate swap | Cash flow hedging
Debt Instrument [Line Items]
Notional Amount				$ 350,000,000			$ 350,000,000
Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 450,000,000
Modified term loan
Debt Instrument [Line Items]
First lien net leverage ratio for any measurement date at which the principal amounts of outstanding revolving loans and letters of credit exceed 25% of the aggregate principal amount of the revolving loan facility		3.50
Maximum first lien net leverage ratio to make distributions		3
Term loan
Debt Instrument [Line Items]
Subsequent payments to certain equity holders and a related party	$ 48,800,000
Term loan | Original term loan
Debt Instrument [Line Items]
Debt instrument, face amount			350,000,000
Proceeds from the term loan			338,600,000
Cash reserved for repayment to equity holders and related party			7,900,000
Cash and debt reserved for repayment to equity holders and related part			$ 346,500,000
Repayments of debt		$ 349,100,000
Term loan | Modified term loan
Debt Instrument [Line Items]
Debt instrument, face amount		400,000,000
Proceeds from the term loan		399,000,000
Unamortized discount		1,000,000
Payments of financing costs		$ 1,200,000
Term loan | Modified term loan | LIBOR
Debt Instrument [Line Items]
Margin (as a percent)		3.25%
Revolving credit facility | Modified revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 100,000,000
Threshold first lien net leverage ratio		1.50
Borrowings under the revolving loan facility				0
Revolving credit facility | Modified revolving credit facility | LIBOR
Debt Instrument [Line Items]
Margin (as a percent)		3.00%
Reduced interest margin (percent)		3.25%
Revolving credit facility | Modified revolving credit facility | Base rate loans
Debt Instrument [Line Items]
Margin (as a percent)		2.00%
Reduced interest margin (percent)		2.25%
Revolving credit facility | Original revolving credit facility
Debt Instrument [Line Items]
Threshold first lien net leverage ratio			1.50
Reduced interest margin (percent)			0.375%
Per annum commitment fee (percent)			0.50%
Commitment fees within interest expense				348,000	$ 411,000	$ 175,000
Letter of credit | Modified revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 10,000,000
Letter of credit | Original revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 10,000,000

Borrowings - Schedule of term l

Borrowings - Schedule of term loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Term loan, face value	$ 393,000	$ 397,000
Unamortized debt discount	(3,115)	(3,728)
Unamortized debt issuance costs	(5,388)	(6,450)
Term loan	384,497	386,822
Principal repayments expected to be made in year two	4,000
Principal repayments expected to be made in year three	4,000
Principal repayments expected to be made in year four	4,000
Principal repayments expected to be made in year five	4,000
Amortization of debt issuance costs	1,675	1,684	$ 687
Term loan
Debt Instrument [Line Items]
Amortization of debt discount	613	593
Amortization of debt issuance costs	$ 1,062	$ 1,091
Effective interest rate percentage	5.95%	5.99%
Term loan | Original term loan
Debt Instrument [Line Items]
Quarterly amortization rate	0.25%
Term loan | Modified term loan
Debt Instrument [Line Items]
Principal repayments expected to be made in the next year	$ 4,000

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ (700,000)
Cash flow hedging | Interest rate swap
Derivative [Line Items]
Notional Amount	$ 350,000,000	$ 350,000,000
Term of agreement	4 years

Derivative Instruments - Schedu

Derivative Instruments - Schedule of notional amounts of outstanding derivative positions (Details) - Interest rate swap - Cash flow hedging - USD ($)	Dec. 31, 2019	Jun. 30, 2019
Derivative [Line Items]
Notional Amount	$ 350,000,000	$ 350,000,000
Fixed Interest Rate	1.80%

Derivative Instruments - Deriva

Derivative Instruments - Derivative Instruments on our Consolidated Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap	$ 2,763	$ 0
Interest rate swap | Designated as cash flow hedges | Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap – gain (loss) reclassified into interest expense	441	0	$ 0
Interest rate swap | Designated as cash flow hedges | Income tax expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap – gain (loss) reclassified into income tax expense	38	0	0
Interest rate swap | Other liabilities | Designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap	2,763	0
FCR liability | Not designated as hedges | Cost of revenue
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Change in fair value recorded in cost of revenue	170,368	96,878	$ 43,295
FCR liability | Finance charge reversal liability | Not designated as hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap	$ 206,035	$ 138,589

Derivative Instruments - Change

Derivative Instruments - Changes in Other Comprehensive Income (Loss) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassifications out of accumulated other comprehensive income (loss), tax expense	$ 38
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	0
Accumulated other comprehensive income (loss), ending balance	(756)
Cash Flow Hedge
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications and tax	(841)
Tax (expense) benefit	279
Other comprehensive income (loss) before reclassifications and tax	(562)
Reclassifications out of accumulated other comprehensive income (loss), net of tax	(194)
Net (increase) decrease in other comprehensive loss	$ (756)

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Transaction processing liabilities	$ 24,465	$ 4,958
Servicing liabilities	3,796	3,016	$ 2,071	$ 0
Distributions payable	5,978	10,066
Interest rate swap	2,763	0
Tax related liabilities	873	4,412
Deferred leasing liabilities	0	2,489
Accruals and other liabilities	9,442	10,110
Other liabilities	$ 47,317	$ 35,051

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - shares	5 Months Ended	12 Months Ended
	May 23, 2018	Dec. 31, 2019	Dec. 31, 2018
Noncontrolling Interest [Line Items]
Weighted average ownership interest (as a percent)		34.60%	31.20%
GS Holdings
Noncontrolling Interest [Line Items]
Weighted average ownership interest (as a percent)		34.60%	31.20%
Economic interest (as a percent)		36.90%	30.00%
Exchange of Holdco Units for Class A common stock pursuant to the Exchange Agreement
Noncontrolling Interest [Line Items]
Units converted (in shares)		15,900,000	300,000
Class A common stock
Noncontrolling Interest [Line Items]
Common stock, outstanding (in shares)		66,424,838	54,504,902
Class A common stock | Exchange of Holdco Units for Class A common stock pursuant to the Exchange Agreement
Noncontrolling Interest [Line Items]
Effect of Reorganization Transactions (in shares)		15,700,000	300,000
Class B common stock
Noncontrolling Interest [Line Items]
Issuances (in shares)	129,000,000
Common stock, outstanding (in shares)		113,517,198	128,549,555

Stockholders Equity (Deficit)_2

Stockholders Equity (Deficit) (Details)	May 23, 2018	Apr. 30, 2019	Jan. 31, 2019shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017shares
Class of Stock [Line Items]
Stock split, conversion ratio	10	10
Stock repurchase program, authorized amount (in shares) | $					$ 150,000,000
Treasury stock (in shares)				13,664,901
Treasury stock, shares acquired (in shares)				13,425,688
Shares associated with tax withholdings (in shares)				16,618
Treasury stock, acquired | $				$ 146,100,000
Treasury stock reissued during the period (in shares)				0	0
Warrants exercised (in shares)			1,180,163
Class A common stock
Class of Stock [Line Items]
Treasury stock, acquired | $				$ 102,241,000
Treasury stock, forfeited (in shares)				222,595
Class A Warrant
Class of Stock [Line Items]
Warrants exercised (in shares)						100,000

Stockholders Equity (Deficit) -

Stockholders Equity (Deficit) - Schedule of dividends declared (Details) - USD ($) $ in Thousands	May 01, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Dividends Payable [Line Items]
Payment of tax distributions		$ 18,500	$ 63,700	$ 71,300
Remaining Reserved Payment		5,978	10,086	13,189
Credit Agreement Distribution
Dividends Payable [Line Items]
Payments of distributions		2,800	50,700	0
Remaining Reserved Payment		4,000
Credit Agreement Distribution | Related party
Dividends Payable [Line Items]
Payments of distributions		600	1,100	0
Remaining Reserved Payment		0
Special operating distribution
Dividends Payable [Line Items]
Payments of distributions		1,400	25,500	0
Remaining Reserved Payment		2,000
Distributions	$ 26,200
Special operating distribution | Related party
Dividends Payable [Line Items]
Payments of distributions		200	1,000	0
Remaining Reserved Payment		0
Tax and Non-Tax Distributions Gross
Dividends Payable [Line Items]
Payments of distributions		23,500	$ 142,000	71,300
Remaining Reserved Payment		$ 6,000
Special Cash Distribution
Dividends Payable [Line Items]
Distributions				$ 160,000

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	May 24, 2018employee$ / sharesshares	May 23, 2018	Apr. 30, 2019	Dec. 31, 2019USD ($)employee$ / sharesshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)	Apr. 30, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock split, conversion ratio		10	10
Allocated share-based compensation expense | $				$ 13,800	$ 6,000	$ 4,000
Award requisite service period (in years)				2 years 3 months 18 days
Compensation not yet recognized, stock options, nonvested awards | $				$ 9,800
Profits Interests converted into vested and unvested Class A stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares converted as part of the Reorganization Transaction (in shares)	940,000
Price per share (in dollars per share) | $ / shares	$ 23
Profits Interests converted into vested and unvested HoldCo Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares converted as part of the Reorganization Transaction (in shares)	15,241,530
Exchange of Holdco Units for Class A common stock pursuant to the Exchange Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Holdco units exchanged for Class A common stock (in shares)				655,334	277,059
Holdco units eligible for exchange (in shares)				3,610,507
Exchange ratio	1
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee				145
Employees | Profits Interests converted into vested and unvested Class A stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee				41
Employees | Profits Interests converted into vested and unvested HoldCo Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee				65
Employees | Exchange of Holdco Units for Class A common stock pursuant to the Exchange Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee				36
Employees | Restricted Stock Awards Converted Into Vested And Unvested Class A Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee	29
Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee				4
Non-Employee | Profits Interests converted into vested and unvested Class A stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee				2
Non-Employee | Profits Interests converted into vested and unvested HoldCo Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee				3
Non-Employee | Exchange of Holdco Units for Class A common stock pursuant to the Exchange Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees affected | employee				3
Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				3 years
Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				5 years
Award requisite service period (in years)				5 years
Expiration period (in years)				10 years
Stock Option | 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)							24,000,000
Number of shares available for grant (in shares)				18,600,000
Profit Interests
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in years)				5 years
Profit Interest, capped price (in dollars per share) | $ / shares				$ 7.60
Profit Interests | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				4 years 6 months
Profit Interests | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				5 years
Vested HoldCo Units | Profits Interests converted into vested and unvested HoldCo Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of new shares converted from Profit Interests (in shares)	2,941,139
Unvested HoldCo Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in years)					2 years
Compensation not yet recognized, nonvested awards | $				$ 6,700
Unvested HoldCo Units | Profits Interests converted into vested and unvested HoldCo Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of new shares converted from Profit Interests (in shares)	3,172,843
Vested Class A stock awards | Profits Interests converted into vested and unvested Class A stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of new shares converted from Profit Interests (in shares)	127,327
Unvested Class A stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in years)				3 years 1 month 6 days
Compensation not yet recognized, nonvested awards | $				$ 26,900
Unvested Class A stock awards | Profits Interests converted into vested and unvested Class A stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of new shares converted from Profit Interests (in shares)	255,904
Unvested Class A stock awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)					3 years
Unvested Class A stock awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)					4 years

Share-Based Compensation - Clas

Share-Based Compensation - Class A Common Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	May 24, 2018	May 23, 2018	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Effect of Reorganization Transactions and IPO (in shares)	(186,772)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Shares exercised by means of cashless net exercise procedure (in shares)				5,154,964	2,372,936
Payments of tax withholding				$ 12,351	$ 4,869	$ 0
Employees
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Proceeds from issuance of shares under share-based compensation plans				$ 300	$ 400
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average grant date fair value, grants in period (in dollars per share)				$ 3.38	$ 6.06	$ 3.52
Exercises in period, intrinsic value				$ 27,700	$ 15,400	$ 400
Issuance of shares by means of cashless net exercise procedure (in shares)				2,236,095	1,027,377
Tax benefit from compensation expense				$ 2,900	$ 900
Stock Option | Employees
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Exercised (in shares)				(37,497)
HoldCo Units
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Issuance of shares by means of cashless net exercise procedure (in shares)					38,637
HoldCo Units | Employees
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Exercised (in shares)					(30,516)
Options exercises pre and post reorganization and IPO
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Payments of tax withholding					$ 5,400
Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)		9,821,890		8,053,292	9,821,890	10,006,890
Granted (in shares)		340,000	1,114,029	1,610,407		500,000
Exercised (in shares)		(270,000)	(2,171,284)	(5,192,471)		(202,000)
Forfeited (in shares)		(260,000)	(321,506)	(258,819)		(483,000)
Expired (in shares)			(13,065)	(30,500)
Outstanding at end of period (in shares)			8,053,292	4,181,909	8,053,292	9,821,890
Exercisable at end of period (in shares)			5,364,233	1,262,998	5,364,233	7,015,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)				$ 5.25
Granted (in dollars per share)				11.41
Exercised (in dollars per share)				1.76
Forfeited (in dollars per share)				13.32
Expired (in dollars per share)				17.25
Outstanding at end of period (in dollars per share)			$ 5.25	11.36	$ 5.25
Exercisable at end of period (in dollars per share)				$ 7.24

Share-Based Compensation - Intr

Share-Based Compensation - Intrinsic Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement [Abstract]
Options, outstanding, intrinsic value	$ 4.8
Options, exercisable, intrinsic value	$ 3.7
Options, outstanding, weighted average remaining contractual term	7 years 7 months 6 days
Options, exercisable, weighted average remaining contractual term	5 years 7 months 6 days
Options vested in period, fair value	$ 2.6	$ 1.2	$ 1.4

Share-Based Compensation - Fair

Share-Based Compensation - Fair Value Assumptions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate, minimum	1.50%	2.77%	2.03%
Risk free interest rate, maximum	2.50%	3.06%	2.23%
Expected volatility, minimum	22.45%	23.10%	23.90%
Expected volatility, maximum	24.40%	25.70%	44.40%
Expected dividend yield	$ 0	$ 0	$ 0
Expected term (in months)	75 months		78 months
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in months)		75 months
Fair value (in dollars per share)	$ 1.77	$ 2.95	$ 2.69
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in months)		78 months
Fair value (in dollars per share)	$ 3.78	$ 7.14	$ 4.99
Profit Interests
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate, minimum		2.60%	1.80%
Risk free interest rate, maximum		2.63%	2.18%
Expected volatility		25.70%
Expected volatility, minimum			23.90%
Expected volatility, maximum			24.80%
Expected dividend yield		$ 0	$ 0
Expected term (in months)			60 months
Profit Interests | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in months)		54 months
Fair value (in dollars per share)		$ 3.92	$ 2.28
Profit Interests | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in months)		60 months
Fair value (in dollars per share)		$ 5.91	$ 4.01

Share-Based Compensation - Prof

Share-Based Compensation - Profits Interests (Details) - Profit Interests - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)	14,061,530	12,616,890
Granted (in shares)	2,920,000	2,374,640
Forfeited (in shares)	(800,000)	(930,000)
Redeemed (in shares)	0	0
Effect of Reorganization Transactions and IPO (in shares)	(16,181,530)
Outstanding at beginning of period (in shares)	0	14,061,530
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Grants in period, weighted average grant date fair value (in dollars per share)	$ 4.47	$ 3.49
Vested in period, fair value	$ 0.4	$ 2.4

Share-Based Compensation - Unve

Share-Based Compensation - Unvested HoldCo Units, Class A Common Stock Awards, and RSAs (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Unvested HoldCo Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of period (in shares)	2,514,856	0
Effect of Reorganization Transactions and IPO (in shares)		3,172,843
Forfeited (in shares)	(301,735)	(156,739)
Vested (in shares)	(1,100,514)	(501,248)
Unvested at June 30, 2018 (in shares)	1,112,607	2,514,856
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Forfeited (in dollars per share)	$ 23
Vested (in dollars per share)	23
Unvested at June 30, 2018 (in dollars per share)	$ 23	$ 23
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Vested in period, fair value	$ 25.3	$ 11.5
Unvested Class A stock awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of period (in shares)	454,561	0
Effect of Reorganization Transactions and IPO (in shares)		255,904
Granted (in shares)	2,887,905	234,829
Forfeited (in shares)	(210,845)	(11,750)
Vested (in shares)	(132,278)	(24,422)
Unvested at June 30, 2018 (in shares)	2,999,343	454,561
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Granted (in dollars per share)	$ 10.90	$ 15.37
Forfeited (in dollars per share)	13.94
Vested (in dollars per share)	19.84
Unvested at June 30, 2018 (in dollars per share)	$ 11.53	$ 19.08
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Vested in period, fair value	$ 2.6	$ 0.6

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income before income tax expense (benefit)	$ 1,707	$ 45,608	$ 34,727	$ 6,806	$ 23,413	$ 49,087	$ 42,410	$ 18,604	$ 88,848	$ 133,514	$ 138,668
Effective income tax rate (as a percent)									(8.00%)	4.10%	0.00%
Statutory federal tax rate									21.00%	21.00%	35.00%
Operating loss carryforwards	4,700								$ 4,700
Operating loss carryforwards, not subject to expiration	3,900								3,900
Operating loss carryforwards, subject to expiration	800								800
Tax Credit Carryforward [Line Items]
Unrecognized Tax Benefits	54				3,377				54	$ 3,377	$ 0
Unrecognized tax benefits that would impact effective tax rate	100								100
Deferred tax assets, reorganization and related	55,200				317,000				55,200	317,000
TRA liability, recognized	46,900				264,800				46,900	264,800
Increase in deferred tax assets due to various state tax law changes	11,500								11,500
State tax benefit various state tax law changes									11,500
TRA liability increase									9,800
Tax receivable agreement liability	311,670				$ 260,901				311,670	260,901
Payments under tax receivable agreement									4,664	$ 0	$ 0
Tax receivable agreement liability, expect Payment in the next twelve months									12,800
Federal
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	200								200
State
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 500								$ 500

Income Taxes - Components of In

Income Taxes - Components of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current income tax expense (benefit):
Federal	$ 5	$ 4
State	10	5
Deferred income tax expense (benefit):
Federal	4,206	4,860
State	(11,346)	665
Income tax expense (benefit)	$ (7,125)	$ 5,534	$ 0

Income Taxes - Reconciliation F

Income Taxes - Reconciliation From The Federal Statutory Income Tax Rate To The Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Statutory federal tax rate	21.00%	21.00%	35.00%
Income attributable to noncontrolling interests and nontaxable income	(15.20%)	(16.30%)	(35.00%)
State income taxes, net of federal benefit	0.60%	0.40%	0.00%
State rate change impact on deferred taxes	(13.00%)	0.00%	0.00%
Remeasurement of liability under tax receivable agreement	2.30%	0.00%	0.00%
Remeasurement of liability under tax receivable agreement	(3.30%)	0.00%	0.00%
Other	(0.40%)	(1.00%)	0.00%
Effective income tax rate	(8.00%)	4.10%	0.00%

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Investment in partnership	$ 358,024	$ 299,466
Net operating loss carryforwards and tax credits	4,700
Other	1,657	1,879
Total	364,841	306,979
Valuation allowance	0	0
Total deferred tax assets	364,841	306,979
Total deferred tax liabilities	0	0
Deferred tax assets, net	364,841	306,979
Deferred Tax Assets, Operating Loss Carryforwards and Tax Credits	$ 5,160	$ 5,634

Income Taxes - Summary of Liabi

Income Taxes - Summary of Liability for Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 3,377	$ 0
Increase related to Reorganization Transactions	0	1,085
Decrease related to current year tax positions	53	2,292
Decrease related to current year tax positions	(3,376)	0
Ending balance	$ 54	$ 3,377

Commitments, Contingencies an_3

Commitments, Contingencies and Guarantees - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Operating lease, expense	$ 3,847
Rent expense		$ 3,183	$ 2,972
Loss Contingencies [Line Items]
Unused commitments to extend credit	4,900	3,000
Restricted cash	250,081	155,109	$ 129,224
Guarantees, fair value	16,698	626
Collectibility of Receivables
Loss Contingencies [Line Items]
Loss contingency accrual	5,800
Financial Guarantee
Loss Contingencies [Line Items]
Possible losses as guarantor, maximum	150,400
Guarantees, fair value	16,700
Bank Partners
Loss Contingencies [Line Items]
Financing receivable, nonaccrual status	13,500
Contractual Restricted Cash Under Arrangement
Loss Contingencies [Line Items]
Restricted cash	$ 75,000	$ 49,800
Minimum
Loss Contingencies [Line Items]
Renewal term (in years)	5 years
Maximum
Loss Contingencies [Line Items]
Renewal term (in years)	15 years

Commitments, Contingencies an_4

Commitments, Contingencies and Guarantees - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 4,491
2021	4,892
2022	3,704
2023	1,501
2024	810
Thereafter	0
Total lease payments	15,398
Less: imputed interest	(1,514)
Operating lease liabilities	$ 13,884

Commitments, Contingencies an_5

Commitments, Contingencies and Guarantees - Lease Costs (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating Lease, Payments		$ 4,241
Noncash operating lease ROU assets obtained in exchange for operating lease liabilities		2,975
Operating lease right-of-use assets		11,268
Operating lease liabilities		$ 13,884
Weighted average remaining lease term (in years)		3 years 3 months 18 days
Weighted average discount rate		5.70%
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Noncash operating lease ROU assets obtained in exchange for operating lease liabilities	$ 11,279
Operating lease right-of-use assets	11,300
Operating lease liabilities	$ 14,100

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)	1 Months Ended		12 Months Ended
	Aug. 31, 2017	Nov. 30, 2016	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Operating lease right-of-use assets			$ 11,268,000
Operating lease liabilities			13,884,000
Related party receivables			156,000	$ 142,000
Related party liabilities			0	825,000
Common Management
Related Party Transaction [Line Items]
Operating lease right-of-use assets			5,200,000
Operating lease liabilities			6,200,000
Rent expense | Common Management
Related Party Transaction [Line Items]
Related party expenses			1,738,000	1,691,000	$ 1,486,000
Recruiting Services | Director
Related Party Transaction [Line Items]
Related party expenses			0	315,000
Charged-Off Receivables | Director
Related Party Transaction [Line Items]
Related party expenses			540,000	206,000
Loans receivable | Non-Executive Employees
Related Party Transaction [Line Items]
Related party receivables			155,000	142,000
Term loan transaction | Affiliated Entity
Related Party Transaction [Line Items]
Related party expenses	$ 2,600,000
Related party liabilities			0	500,000
Share-based compensation | Affiliated Entity
Related Party Transaction [Line Items]
Related party expenses			$ 0	0	285,000
Bank partner agreement | Financing Partner
Related Party Transaction [Line Items]
Related party expenses				$ 0	$ 428,000
Related party transaction amount		$ 20,000,000

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - Bank partner agreement - Financing Partner - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Servicing and other	$ 54	$ 146
Related party expenses	$ 0	$ 428

Segment Reporting (Details)

Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2019segment
Segment Reporting [Abstract]
Number of reportable segments	1

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Weighted average ownership interest (as a percent)	34.60%	31.20%
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
VIE, ownership percentage	100.00%
GS Holdings
Variable Interest Entity [Line Items]
Weighted average ownership interest (as a percent)	34.60%	31.20%

Variable Interest Entities - Ba

Variable Interest Entities - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 195,760	$ 303,390	$ 224,614
Restricted cash	250,081	155,109	129,224
Loan receivables held for sale, net	51,926	2,876	$ 73,606	$ 41,268
Accounts receivable, net	19,493	15,400
Related party receivables	156	142
Property, equipment and software, net	18,309	10,232
Operating lease right-of-use assets	11,268
Other assets	39,214	8,777
Total assets	951,048	802,905
Liabilities
Accounts payable	11,912	5,357
Accrued compensation and benefits	10,734	8,484
Other accrued expenses	3,244	1,015
Finance charge reversal liability	206,035	138,589
Term loan	384,497	386,822
Related party liabilities	0	825
Operating lease liabilities	13,884
Financial guarantee liability	16,698	626
Other liabilities	47,317	35,051
Total liabilities	1,005,991	837,670
Equity (Deficit)
Noncontrolling interest	(80,758)	(60,349)
Total equity (deficit)	(54,943)	(34,765)
Total liabilities and equity (deficit)	951,048	802,905
Variable Interest Entity, Primary Beneficiary
Assets
Cash and cash equivalents	177,730	294,364
Restricted cash	250,081	155,109
Loan receivables held for sale, net	51,926	2,876
Accounts receivable, net	19,493	15,400
Related party receivables	156	142
Property, equipment and software, net	18,309	10,232
Operating lease right-of-use assets	11,268
Other assets	38,224	7,448
Total assets	567,187	485,571
Liabilities
Accounts payable	11,912	5,357
Accrued compensation and benefits	10,734	8,484
Other accrued expenses	3,244	1,015
Finance charge reversal liability	206,035	138,589
Term loan	384,497	386,822
Related party liabilities	0	825
Operating lease liabilities	13,884
Financial guarantee liability	16,698	626
Other liabilities	46,444	30,638
Total liabilities	693,448	572,356
Equity (Deficit)
Noncontrolling interest	(80,758)	(60,349)
Total permanent equity (deficit)	(45,503)	(26,436)
Total equity (deficit)	(126,261)	(86,785)
Total liabilities and equity (deficit)	$ 567,187	$ 485,571

Variable Interest Entities - St

Variable Interest Entities - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Total revenue	$ 133,836	$ 153,415	$ 138,695	$ 103,700	$ 109,731	$ 113,912	$ 105,704	$ 85,326	$ 529,646	$ 414,673	$ 325,887
Total costs and expenses	123,275	101,017	92,189	92,212	81,583	59,655	58,896	61,749	408,693	261,883	180,288
Operating profit	10,561	52,398	46,506	11,488	28,148	54,257	46,808	23,577	120,953	152,790	145,599
Total other income (expense), net	(8,854)	(6,790)	(11,779)	(4,682)	(4,735)	(5,170)	(4,398)	(4,973)	(32,105)	(19,276)	(6,931)
Income before income tax expense (benefit)	$ 1,707	$ 45,608	$ 34,727	$ 6,806	$ 23,413	$ 49,087	$ 42,410	$ 18,604	88,848	133,514	$ 138,668
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Total revenue									529,646	414,673
Total costs and expenses									408,693	261,883
Operating profit									120,953	152,790
Total other income (expense), net									(22,297)	(19,276)
Income before income tax expense (benefit)									$ 98,656	$ 133,514

Variable Interest Entities - _2

Variable Interest Entities - Statement of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net cash provided by operating activities	$ 153,327	$ 256,426	$ 160,394
Net cash used in investing activities	(15,381)	(6,581)	(4,135)
Net cash used in financing activities	(150,604)	(145,184)	(30,535)
Net increase (decrease) in cash and cash equivalents and restricted cash	(12,658)	104,661	125,724
Cash and cash equivalents and restricted cash at beginning of period	458,499	353,838	228,114
Cash and cash equivalents and restricted cash at end of period	445,841	458,499	353,838
Variable Interest Entity, Primary Beneficiary
Cash flows from operating activities
Net cash provided by operating activities	153,327	256,426
Net cash used in investing activities	(15,381)	(6,581)
Net cash used in financing activities	(159,608)	(154,210)
Net increase (decrease) in cash and cash equivalents and restricted cash	(21,662)	95,635
Cash and cash equivalents and restricted cash at beginning of period	449,473	353,838
Cash and cash equivalents and restricted cash at end of period	$ 427,811	$ 449,473	$ 353,838

Quarterly Consolidated Result_3

Quarterly Consolidated Results of Operations Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	May 23, 2018	Dec. 31, 2018	Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 133,836	$ 153,415	$ 138,695	$ 103,700	$ 109,731	$ 113,912	$ 105,704	$ 85,326			$ 529,646		$ 414,673	$ 325,887
Cost of revenue (exclusive of depreciation and amortization)	69,358	64,957	56,228	58,037	55,170	35,374	33,765	36,130			248,580		160,439	89,708
Total costs and expenses	123,275	101,017	92,189	92,212	81,583	59,655	58,896	61,749			408,693		261,883	180,288
Operating profit	10,561	52,398	46,506	11,488	28,148	54,257	46,808	23,577			120,953		152,790	145,599
Total other income (expense), net	(8,854)	(6,790)	(11,779)	(4,682)	(4,735)	(5,170)	(4,398)	(4,973)			(32,105)		(19,276)	(6,931)
Income before income tax expense (benefit)	1,707	45,608	34,727	6,806	23,413	49,087	42,410	18,604			88,848		133,514	138,668
Net income	5,304	44,075	39,193	7,401	22,848	45,712	40,816	18,604	$ 38,213	$ 89,767	95,973		127,980	$ 138,668
Less: Net income attributable to noncontrolling interests	3,265	29,349	26,877	4,502	16,143	33,711	35,266	$ 18,604			63,993		103,724
Net income attributable to GreenSky, Inc.	$ 2,039	$ 14,726	$ 12,316	$ 2,899	$ 6,705	$ 12,001	$ 5,550				$ 31,980		$ 24,256
Earnings per share of Class A common stock:
Basic (in dollars per share)	$ 0.03	$ 0.24	$ 0.20	$ 0.05	$ 0.12	$ 0.21	$ 0.10				$ 0.52	[1]	$ 0.43
Diluted (in dollars per share)	$ 0.03	$ 0.23	$ 0.19	$ 0.05	$ 0.11	$ 0.20	$ 0.09				$ 0.49	[1]	$ 0.41
[1]	For the year ended December 31, 2018, basic and diluted earnings per share of Class A common stock are applicable only for the period from May 24, 2018 through December 31, 2018, which is the period following the initial public offering ("IPO") and related Reorganization Transactions (as defined in Note 1 to the Notes to Consolidated Financial Statements). See Note 2, Earnings per Share, to the Notes to Consolidated Financial Statements for the number of shares used in the computation of earnings per share of Class A common stock and the basis for the computation of earnings per share.

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($) $ in Thousands

Dec. 27, 2019

Nov. 01, 2019

Mar. 27, 2019

Dec. 20, 2018

Sep. 27, 2018

Jun. 27, 2018

May 21, 2018

Dec. 21, 2017

Jun. 29, 2017

Mar. 02, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Subsequent Event [Line Items]

Sales of loans

$ 14,521

$ 13,752

$ 63,673

$ 30,684

$ 48,176

$ 50,614

$ 9,552

$ 54,171

$ 17,900

$ 91,946

$ 139,026

$ 72,071

Subsequent Event

Subsequent Event [Line Items]

Sales of loans

$ 24,100

Subsequent Event | Tax distributions

Subsequent Event [Line Items]

Payments of distributions

45,500

Subsequent Event | Non-tax distributions

Subsequent Event [Line Items]

Payments of distributions

$ 1,700

Schedule II. Valuation and Qu_2

Schedule II. Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for losses on accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 168	$ 276	$ 366
Charged to costs and expenses	950	1,294	817
Charged to other accounts	0	17	16
Deductions	(880)	(1,419)	(923)
Balance at end of period	238	168	276
Valuation allowance on loan receivables held for sale
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	676	584	0
Charged to costs and expenses	3,895	2,671	3,551
Charged to other accounts	0	0	0
Deductions	(2,606)	(2,579)	(2,967)
Balance at end of period	$ 1,965	$ 676	$ 584

Uncategorized Items - gsky-2019

Label	Element	Value
Temporary Equity, Distributions	gsky_TemporaryEquityDistributions	$ 16,358,000
Limited Liability Company (LLC) Members' Equity, Unit-based Payment Arrangement	us-gaap_LimitedLiabilityCompanyLLCMembersEquityUnitBasedCompensation	2,132,000
Adjustment To Additional Paid In Capital, Deferred Tax Adjustment Related To Tax Receivable Agreement	gsky_AdjustmentToAdditionalPaidInCapitalDeferredTaxAdjustmentRelatedToTaxReceivableAgreement	47,129,000
Adjustment To Additional Paid In Capital, Deferred Tax Adjustment Related To Tax Receivable Agreement	gsky_AdjustmentToAdditionalPaidInCapitalDeferredTaxAdjustmentRelatedToTaxReceivableAgreement	1,097,000
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared, Including Temporary Equity	gsky_DistributionMadetoLimitedLiabilityCompanyLLCMemberCashDistributionsDeclaredIncludingTemporaryEquity	111,341,000
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared	us-gaap_DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared	94,983,000
Purchases Of Subsidiary Units In Connection With IPO	gsky_PurchasesOfSubsidiaryUnitsInConnectionWithIPO	901,833,000
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	3,906,000
Temporary Equity, Elimination as Part of Reorganization	us-gaap_TemporaryEquityEliminationAsPartofReorganization	413,990,000
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	496,000
Noncontrolling Interest, Increase From Vesting Of Shares	gsky_NoncontrollingInterestIncreaseFromVestingOfShares	0
Temporary Equity, Stock Issued During Period, Value, New Issues	us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues	339,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	339,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	2,132,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(290,000)
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	511,176,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	27,074,000
Equity-Based Payments To Non-Employees	gsky_EquityBasedPaymentsToNonEmployees	(10,000)
Equity-Based Payments To Non-Employees	gsky_EquityBasedPaymentsToNonEmployees	(6,000)
Retained Earnings [Member]
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared	us-gaap_DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared	57,003,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	24,256,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	38,213,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(87,000)
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	(79,729,000)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	38,000
Noncontrolling Interest [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	65,511,000
Noncontrolling Interest, Increase From Vesting Of Shares	gsky_NoncontrollingInterestIncreaseFromVestingOfShares	(29,525,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(203,000)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	27,036,000
Noncontrolling Interest, Effect Of Reorganization	gsky_NoncontrollingInterestEffectOfReorganization	(69,299,000)
Additional Paid-in Capital [Member]
Limited Liability Company (LLC) Members' Equity, Unit-based Payment Arrangement	us-gaap_LimitedLiabilityCompanyLLCMembersEquityUnitBasedCompensation	2,132,000
Adjustment To Additional Paid In Capital, Deferred Tax Adjustment Related To Tax Receivable Agreement	gsky_AdjustmentToAdditionalPaidInCapitalDeferredTaxAdjustmentRelatedToTaxReceivableAgreement	47,129,000
Adjustment To Additional Paid In Capital, Deferred Tax Adjustment Related To Tax Receivable Agreement	gsky_AdjustmentToAdditionalPaidInCapitalDeferredTaxAdjustmentRelatedToTaxReceivableAgreement	1,097,000
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared	us-gaap_DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared	37,980,000
Purchases Of Subsidiary Units In Connection With IPO	gsky_PurchasesOfSubsidiaryUnitsInConnectionWithIPO	901,833,000
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	3,906,000
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	496,000
Noncontrolling Interest, Increase From Vesting Of Shares	gsky_NoncontrollingInterestIncreaseFromVestingOfShares	29,525,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	339,000
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	590,905,000
Noncontrolling Interest, Effect Of Reorganization	gsky_NoncontrollingInterestEffectOfReorganization	69,299,000
Equity-Based Payments To Non-Employees	gsky_EquityBasedPaymentsToNonEmployees	(10,000)
Equity-Based Payments To Non-Employees	gsky_EquityBasedPaymentsToNonEmployees	(6,000)
Additional Paid In Capital - LLC [Member]
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	(97,344,000)
Common Class B [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	129,000
Common Class B [Member] | Additional Paid-in Capital [Member]
Stock Issued During Period, Value, Conversion of Convertible Securities	us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities	$ (3,000)
Common Class B [Member] | Common Stock [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities	us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities	277,059
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 129,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	128,983,353
Shares Issued, Shares, Share-based Payment Arrangement, Forfeited	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationForfeited	156,739
Common Class A [Member]
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	$ 43,878,000
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	53,012,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	(4,810,000)
Common Class A [Member] | IPO [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	950,990,000
Common Class A [Member] | Other Offering [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	0
Common Class A [Member] | Additional Paid-in Capital [Member]
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	(2,000)
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	52,988,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	(4,820,000)
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	(1,000)
Common Class A [Member] | Additional Paid-in Capital [Member] | IPO [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	950,553,000
Common Class A [Member] | Additional Paid-in Capital [Member] | Other Offering [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ (4,000)
Common Class A [Member] | Common Stock [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities	us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities	277,059
Stock Issued During Period, Value, Conversion of Convertible Securities	us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities	$ 3,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised	125,398
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised	1,035,724
Stock Issued During Period, Shares, Conversion of Units	us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits	15,816,268
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	$ 2,000
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	24,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	1,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	$ 10,000
Stock Repurchased During Period, Shares	us-gaap_StockRepurchasedDuringPeriodShares	4,681,211
Stock Repurchased During Period, Shares	us-gaap_StockRepurchasedDuringPeriodShares	2,426,198
Shares Issued, Shares, Share-based Payment Arrangement, Forfeited	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationForfeited	11,750
Stock Issued During Period, Value, Conversion of Units	us-gaap_StockIssuedDuringPeriodValueConversionOfUnits	$ 158,000
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures	234,829
Common Class A [Member] | Common Stock [Member] | IPO [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 437,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	43,700,000
Common Class A [Member] | Common Stock [Member] | Other Offering [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 4,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	434,783
Common Class A [Member] | Treasury Stock [Member]
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	$ 43,878,000