PROG (PRG) 10-Q 24 Apr 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 19, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-39628
Entity Registrant Name	PROG HOLDINGS, INC.
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	85-2484385
Entity Address, Address Line One	256 W. Data Drive
Entity Address, City or Town	Draper,
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84020-2315
City Area Code	385
Local Phone Number	351-1369
Title of 12(b) Security	Common Stock, $0.50 Par Value
Trading Symbol	PRG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		43,174,574
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001808834
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
ASSETS:
Cash and Cash Equivalents	$ 252,826	$ 155,416
Accounts Receivable (net of allowances of $64,272 in 2024 and $64,180 in 2023)	62,043	67,879
Lease Merchandise (net of accumulated depreciation and allowances of $420,395 in 2024 and $423,466 in 2023)	557,419	633,427
Loans Receivable (net of allowances and unamortized fees of $47,684 in 2024 and $50,022 in 2023)	117,928	126,823
Property and Equipment, Net	21,862	24,104
Operating Lease Right-of-Use Assets	4,474	9,271
Goodwill	296,061	296,061
Other Intangibles, Net	86,014	91,664
Income Tax Receivable	11,592	32,918
Deferred Income Tax Assets	2,473	2,981
Prepaid Expenses and Other Assets	48,974	50,711
Total Assets	1,461,666	1,491,255
LIABILITIES & SHAREHOLDERS’ EQUITY:
Accounts Payable and Accrued Expenses	139,843	151,259
Deferred Income Tax Liabilities	95,674	104,838
Customer Deposits and Advance Payments	33,518	35,713
Operating Lease Liabilities	14,952	15,849
Debt	592,589	592,265
Total Liabilities	876,576	899,924
Commitments and Contingencies (Note 4)
SHAREHOLDERS' EQUITY:
Common Stock, Par Value $0.50 Per Share: Authorized: 225,000,000 Shares at March 31, 2024 and December 31, 2023; Shares Issued: 82,078,654 at March 31, 2024 and December 31, 2023	41,039	41,039
Additional Paid-in Capital	346,650	352,421
Retained Earnings	1,309,702	1,293,073
Shareholders' Equity, before treasury shares at cost	1,697,391	1,686,533
Less: Treasury Shares at Cost
Common Stock: 38,904,934 Shares at March 31, 2024 and 38,404,527 at December 31, 2023	(1,112,301)	(1,095,202)
Total Shareholders’ Equity	585,090	591,331
Total Liabilities & Shareholders’ Equity	$ 1,461,666	$ 1,491,255

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 64,272	$ 64,180
Lease merchandise, accumulated depreciation and allowances	420,395	423,466
Loans receivable, allowances and unamortized fees	$ 47,684	$ 50,022
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	225,000,000	225,000,000
Common stock, shares issued (in shares)	82,078,654	82,078,654
Treasury stock shares (in shares)	38,904,934	38,404,527

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
REVENUES:
Revenues	$ 641,870	$ 655,140
COSTS AND EXPENSES:
Depreciation of Lease Merchandise	431,571	435,439
Provision for Lease Merchandise Write-offs	43,141	38,364
Operating Expenses	127,341	105,259
Costs and expenses	602,053	579,062
OPERATING PROFIT	39,817	76,078
Interest Expense, Net	(8,250)	(8,491)
EARNINGS BEFORE INCOME TAX EXPENSE	31,567	67,587
INCOME TAX EXPENSE	9,601	19,554
NET EARNINGS	$ 21,966	$ 48,033
EARNINGS PER SHARE
Basic (in dollars per share)	$ 0.50	$ 1
Assuming dilution (in dollars per share)	0.49	1
CASH DIVIDENDS DECLARED PER SHARE:
Common Stock (in dollars per share)	$ 0.12	$ 0
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic (in shares)	43,695	47,854
Assuming dilution (in shares)	44,528	48,139
Lease Revenues and Fees
REVENUES:
Revenues	$ 620,550	$ 637,082
Interest and Fees on Loans Receivable
REVENUES:
Revenues	$ 21,320	$ 18,058

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING ACTIVITIES:
Net Earnings	$ 21,966	$ 48,033
Adjustments to Reconcile Net Earnings to Cash Provided by Operating Activities:
Depreciation of Lease Merchandise	431,571	435,439
Other Depreciation and Amortization	8,018	7,979
Provisions for Accounts Receivable and Loan Losses	85,405	78,665
Stock-Based Compensation	6,642	5,415
Deferred Income Taxes	(8,656)	(10,360)
Impairment of Assets	6,018	0
Non-Cash Lease Expense	(615)	(739)
Other Changes, Net	115	(814)
Changes in Operating Assets and Liabilities:
Additions to Lease Merchandise	(400,479)	(399,289)
Book Value of Lease Merchandise Sold or Disposed	44,916	40,225
Accounts Receivable	(68,520)	(61,249)
Prepaid Expenses and Other Assets	1,829	(5,087)
Income Tax Receivable and Payable	21,076	26,295
Accounts Payable and Accrued Expenses	(11,358)	(4,501)
Customer Deposits and Advance Payments	(2,195)	(2,593)
Cash Provided by Operating Activities	135,733	157,419
INVESTING ACTIVITIES:
Investments in Loans Receivable	(76,963)	(43,045)
Proceeds from Loans Receivable	75,448	44,128
Outflows on Purchases of Property and Equipment	(2,096)	(1,678)
Proceeds from Property and Equipment	14	5
Cash Used in Investing Activities	(3,597)	(590)
FINANCING ACTIVITIES:
Dividends Paid	(5,221)	0
Acquisition of Treasury Stock	(24,437)	(36,472)
Issuance of Stock Under Stock Option and Employee Purchase Plans	123	0
Shares Withheld for Tax Payments	(5,191)	(2,393)
Cash Used in Financing Activities	(34,726)	(38,865)
Increase in Cash and Cash Equivalents	97,410	117,964
Cash and Cash Equivalents at Beginning of Period	155,416	131,880
Cash and Cash Equivalents at End of Period	252,826	249,844
Net Cash Paid (Received) During the Period:
Interest	224	268
Income Taxes	$ (3,836)	$ 2,532

BASIS AND SUMMARY OF SIGNIFICAN

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business PROG Holdings, Inc. ("we," "our," "us," the "Company," or "PROG Holdings") is a financial technology holding company that provides transparent and competitive payment options to consumers. PROG Holdings has two reportable segments: (i) Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider; and (ii) Vive Financial ("Vive"), an omnichannel provider of second-look revolving credit products. Our Progressive Leasing segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce website partners in the United States and Puerto Rico (collectively, "POS partners"). It does so by purchasing merchandise from the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-own transaction. Progressive Leasing has no stores of its own, but rather offers lease-purchase solutions to the customers of traditional and e-commerce retailers. Our Vive segment primarily serves customers that may not qualify for traditional prime lending offers who desire to purchase goods and services from participating merchants. Vive offers customized programs, with services that include revolving loans through private label and Vive-branded credit cards. Vive's current network of POS partner locations and e-commerce websites includes furniture, mattresses, home exercise equipment, and home improvement retailers, as well as medical and dental service providers. PROG Holdings’ ecosystem of financial technology offerings also includes Four Technologies, Inc. ("Four"), a Buy Now, Pay Later ("BNPL") company that allows shoppers to pay for merchandise through four interest-free installments. Shoppers use Four to purchase furniture, clothing, electronics, health and beauty products, footwear, jewelry, and other consumer goods from retailers across the United States. Four is not a reportable segment for the three-month period ended March 31, 2024 as its financial results are not material to the Company's condensed consolidated financial results. Basis of Presentation The preparation of the Company's condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Management does not believe these estimates or assumptions will change significantly in the future absent unidentified and unforeseen events, such as the possible direct or indirect impacts associated with elevated inflation, increasing unemployment rates, the resumption of student loan repayments, and/or the possibility of a recession in the United States. The accompanying unaudited condensed consolidated financial statements do not include all information required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included in the accompanying unaudited condensed consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Annual Report") filed with the United States Securities and Exchange Commission on February 21, 2024. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of operating results for the full year. Principles of Consolidation The condensed consolidated financial statements include the accounts of PROG Holdings, Inc. and its subsidiaries, each of which is wholly-owned. Intercompany balances and transactions between consolidated entities have been eliminated. Accounting Policies and Estimates See Note 1 to the consolidated financial statements in the 2023 Annual Report for an expanded discussion of accounting policies and estimates. Earnings Per Share Earnings per share is computed by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. The computation of earnings per share assuming dilution includes the dilutive effect of stock options, restricted stock units ("RSUs"), restricted stock awards ("RSAs"), performance share units ("PSUs") and awards issuable under the Company's employee stock purchase plan ("ESPP") (collectively, "share-based awards") as determined under the treasury stock method. The following table shows the calculation of dilutive share-based awards: Three Months Ended March 31, (Shares In Thousands) 2024 2023 Weighted Average Shares Outstanding 43,695 47,854 Dilutive Effect of Share-Based Awards 833 285 Weighted Average Shares Outstanding Assuming Dilution 44,528 48,139 Approximately 797,000 and 1,209,000 weighted-average share-based awards were excluded from the computation of earnings per share assuming dilution during the three months ended March 31, 2024 and 2023, respectively, as the awards would have been anti-dilutive for the periods presented. Revenue Recognition Lease Revenues and Fees Progressive Leasing provides merchandise, consisting primarily of furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, automobile electronics and accessories, and a variety of other products, to its customers for lease under terms agreed to by the customer. Progressive Leasing offers customers of traditional and e-commerce retailers a lease-purchase solution through leases with payment terms that can generally be renewed up to 12 months. Progressive Leasing does not require deposits upon inception of customer agreements. The customer has the right to acquire ownership either through early buyout options or through payment of all required lease payments. The agreements are cancellable at any time by either party without penalty. All of Progressive Leasing's customer agreements are considered operating leases. The Company maintains ownership of the lease merchandise until all payment obligations are satisfied under the lease ownership agreements. Initial lease payments made by the customer upon lease execution are recognized as deferred revenue and are amortized as lease revenue over the estimated lease term on a straight-line basis. Initial lease payments and other payments collected in advance of being due or earned are recognized as deferred revenue within customer deposits and advance payments in the accompanying condensed consolidated balance sheets. All other customer lease billings are earned prior to the lease payment due date and are recorded net of related sales taxes as earned. Payment due date terms include weekly, bi-weekly, semi-monthly and monthly frequencies. Revenue recorded prior to the payment due date results in unbilled receivables recognized in accounts receivable, net of allowances, in the accompanying condensed consolidated balance sheets. Lease revenues are recorded net of a provision for uncollectible renewal payments. Initial direct costs related to lease purchase agreements are capitalized as incurred and amortized as operating expense over the estimated lease term. The capitalized costs have been classified within prepaid expenses and other assets in the accompanying condensed consolidated balance sheets. Interest and Fees on Loans Receivable Interest and fees on loans receivable is primarily generated from our Vive segment. Vive extends or declines credit to an applicant through its bank partners based upon the applicant's credit rating and other factors. Qualifying applicants are approved for a specified maximum revolving credit card line to finance their initial purchase and to use in subsequent purchases at the merchant or other participating merchants for an initial 24-month period, which Vive may renew if the cardholder remains in good standing. Vive acquires the loan receivable from its third-party bank partners at a discount from the face value of the loan. The discount is comprised of a merchant fee discount and a promotional fee discount, if applicable. The merchant fee discount represents a pre-negotiated, nonrefundable discount that generally ranges from 3% to 25% of the loan face value. The discount is designed to cover the risk of loss related to the portfolio of cardholder charges and Vive's direct origination costs. The merchant fee discount and origination costs are presented net in the condensed consolidated balance sheets in loans receivable. Cardholders generally have an initial 24-month period that the card is active. The merchant fee discount, net of the origination costs, is amortized on a net basis and is recorded as interest and fees on loans receivable in the condensed consolidated statements of earnings on a straight-line basis over the initial 24-month period. If the loan receivable is paid off or charged off during the 24-month period, the remaining net merchant fee discount is recognized as interest and fees on loans receivable at that time. The discount from the face value of the loan on the acquisition of the loan receivable from the merchant through the third-party bank partners may also include a promotional fee discount, which generally ranges from 1% to 8%. The promotional fee discount is intended to compensate the holder of the loan receivable (i.e., Vive) for deferred or reduced interest rates that are offered to the cardholder for a specified period on the outstanding loan balance (generally for six six The customer is typically required to make monthly minimum payments of at least 3.5% of the outstanding loan balance, which includes outstanding interest. Fixed and variable interest rates, typically 27% to 35.99%, are compounded daily for cards that do not qualify for deferred or reduced interest promotional periods. Interest income, which is recognized based upon the amount of the loans outstanding, is recognized as interest and fees on loans receivable when earned if collectibility is reasonably assured. For credit cards that provide deferred interest, if the balance is not paid off during the promotional period or if the cardholder defaults, interest is billed to the customers at standard rates and the cumulative amount owed is charged to the cardholder account in the month that the promotional period expires. The Company recognizes interest revenue during the promotional period based on its historical experience related to cardholders that fail to pay off balances during the promotional period if collectibility is reasonably assured. Annual fees are charged to cardholders at the commencement of the loan and on each subsequent anniversary date. Annual fees are deferred and recognized into revenue on a straight-line basis over a one-year period. Under the provisions of the credit card agreements, Vive also may assess fees for missed or late payments, which are recognized as revenue in the billing period in which they are assessed if collectibility is reasonably assured. Annual fees and other fees are recognized as interest and fees on loans receivable in the condensed consolidated statements of earnings. Accounts Receivable Accounts receivable consist primarily of receivables due from customers of Progressive Leasing and amounted to $62.0 million and $67.9 million, net of allowances, as of March 31, 2024 and December 31, 2023, respectively. The Company maintains an accounts receivable allowance, which primarily relates to its Progressive Leasing operations and, to a lesser extent, receivables from Vive's POS partners. The Company’s policy is to record an allowance for uncollectible renewal payments based on historical collection experience. Other qualitative factors, such as current and forecasted business trends, are considered in estimating the allowance. Given the significant uncertainty regarding the impacts of inflation, elevated interest rates, the resumption of student loan repayments, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of March 31, 2024. Therefore, actual future accounts receivable write-offs may differ materially from the allowance. The provision for uncollectible renewal payments is recorded as a reduction of lease revenues and fees within the condensed consolidated statements of earnings. For customer lease agreements that are past due, the Company's policy is to write off lease receivables after 120 days. Vive's allowance for uncollectible merchant accounts receivable, which primarily relates to cardholder returns and refunds, and is an immaterial amount related to Vive's bad debt expense, is recorded within operating expenses in the condensed consolidated statements of earnings. See below for a discussion of Vive's loans receivable and related allowance for loan losses. The following table shows the components of the accounts receivable allowance: Three Months Ended March 31, (In Thousands) 2024 2023 Beginning Balance $ 64,180 $ 69,264 Net Book Value of Accounts Written Off (85,287) (86,064) Recoveries 11,023 12,019 Accounts Receivable Provision 74,356 69,951 Ending Balance $ 64,272 $ 65,170 Lease Merchandise Progressive Leasing's merchandise consists primarily of furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, automobile electronics and accessories, and a variety of other products, and is recorded at the lower of depreciated cost or net realizable value. Progressive Leasing depreciates lease merchandise to a 0% salvage value generally over 12 months. Depreciation is accelerated upon early buyout. All of Progressive Leasing's merchandise, net of accumulated depreciation and allowances, represents on-lease merchandise. The Company records a provision for write-offs using the allowance method. The allowance method for lease merchandise write-offs estimates the merchandise losses incurred but not yet identified by management as of the end of the accounting period based on historical write-off experience. Other qualitative factors, such as current and forecasted customer payment trends, are considered in estimating the allowance. Given the significant uncertainty regarding the impacts of inflation, elevated interest rates, the resumption of student loan repayments, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of March 31, 2024. Actual lease merchandise write-offs may differ materially from the allowance as of March 31, 2024. For customer lease agreements that are past due, the Company's policy is to write off lease merchandise after 120 days. The following table shows the components of the allowance for lease merchandise write-offs, which is included within lease merchandise, net in the condensed consolidated balance sheets: Three Months Ended March 31, (In Thousands) 2024 2023 Beginning Balance $ 44,180 $ 47,118 Net Book Value of Merchandise Written off (40,737) (39,432) Recoveries 1,666 1,895 Provision for Write-offs 43,141 38,364 Ending Balance $ 48,250 $ 47,945 Vendor Incentives and Rebates Provided to POS Partners Progressive Leasing has agreements with some of its POS partners that require additional consideration to be paid to the POS partner, including payments for exclusivity, rebates based on lease volume originations generated through the POS partners, and payments to the POS partners for marketing or other development initiatives to promote additional lease originations through these POS partners. Payments made to POS partners as consideration for them providing exclusivity to Progressive Leasing for lease-to-own transactions with customers of the POS partner are expensed on a straight-line basis over the exclusivity term. Rebates are accrued over the period the POS partner is earning the rebate, which is typically based on quarterly or annual lease origination volumes. Payments made to POS partners for marketing or development initiatives are expensed on a straight-line basis over the period the POS partner is earning the funds or the specified marketing term. Progressive Leasing expensed $8.8 million and $6.8 million for such additional consideration to POS partners during the three months ended March 31, 2024 and 2023, respectively. Expenses related to additional consideration provided to POS partners are classified within operating expenses in the condensed consolidated statements of earnings. Loans Receivable, Net Gross loans receivable primarily represents the principal balances of credit card charges at Vive's participating merchants that remain due from cardholders, plus unpaid interest and fees due from cardholders. The allowance and unamortized fees represent uncollectible amounts; merchant fee discounts, net of capitalized origination costs; promotional fee discounts; and deferred annual card fees. Loans receivable, net, also includes $10.3 million and $13.9 million of outstanding receivables from customers of Four as of March 31, 2024 and December 31, 2023, respectively. Economic conditions and loan performance trends are closely monitored to manage and evaluate exposure to credit risk. Trends in delinquency rates are an indicator of credit risk within the loans receivable portfolio, including the migration of loans between delinquency categories over time. Charge-off rates represent another indicator of the potential for future credit losses. The risk in the loans receivable portfolio is correlated with broad economic trends, such as current and projected unemployment rates, stock market volatility, and changes in medium and long-term risk-free rates, which are considered in determining the allowance for loan losses and can have a material effect on credit performance. Expected lifetime losses on loans receivable are recognized upon loan acquisition, which requires the Company to make its best estimate of probable lifetime losses at the time of acquisition. Vive's credit card loans do not have contractually stated maturity dates, which requires the Company to estimate an average life of loan by analyzing historical payment trends to determine an expected remaining life of the loan balance. The Company segments its loans receivable portfolio into homogenous pools by Fair Isaac and Company ("FICO") score and by delinquency status and evaluates loans receivable collectively for impairment when similar risk characteristics exist. The Company calculates Vive's allowance for loan losses based on internal historical loss information and incorporates observable and forecasted macroeconomic data over a six-month reasonable and supportable forecast period. Incorporating macroeconomic data could have a material impact on the measurement of the allowance to the extent that forecasted data changes significantly, such as higher forecasted inflation and unemployment rates. Subsequent to the six-month reasonable and supportable forecast period described above, the Company reverts to using historical loss information on a straight-line basis over a three-month period. The Company may also consider other qualitative factors in estimating the allowance, as necessary. For the purposes of determining the allowance as of March 31, 2024, management considered qualitative factors such as the tightening of Vive's loan decisioning in mid-2022 and macroeconomic conditions associated with the impacts of increased inflation, unemployment rates, and/or the possibility of a recession in the United States. The allowance for loan losses is maintained at a level considered appropriate to cover expected future losses of principal, interest and fees on active loans in the loans receivable portfolio. The appropriateness of the allowance is evaluated at each period end. To the extent that actual results differ from estimates of uncollectible loans receivable, the Company's results of operations and liquidity may be materially affected. Vive's delinquent loans receivable includes those that are 30 days or more past due based on their contractual billing dates. Vive's loans receivable are placed on nonaccrual status when they are greater than 90 days past due or upon notification of cardholder bankruptcy, death or fraud. The Company discontinues accruing interest and fees and amortizing merchant fee discounts and promotional fee discounts for Vive's loans receivable in nonaccrual status. Loans receivable are removed from nonaccrual status when cardholder payments resume, the loan becomes 90 days or less past due and collection of the remaining amounts outstanding is deemed probable. Payments received on nonaccrual loans are allocated according to the same payment hierarchy methodology applied to loans that are accruing interest. Loans receivable are charged off no later than the end of the following month after the billing cycle in which the loans receivable become 120 days past due. Vive extends or declines credit to an applicant through its bank partners based upon the applicant's credit rating and other factors. Four extends or declines credit on an individual transaction basis using its proprietary decisioning platform, without using customer credit ratings. Four's credit risk exposure is limited by smaller transaction values and short loan duration. Below is a summary of the credit quality of the Company's loan portfolio as of March 31, 2024 and December 31, 2023 by FICO score as determined at the time of loan origination: FICO Score Category March 31, 2024 December 31, 2023 600 or Less 6.6 % 6.5 % Between 600 and 700 72.6 % 73.5 % 700 or Greater 11.4 % 11.2 % No Score Identified 9.4 % 8.8 % Prepaid Expenses and Other Assets Prepaid expenses and other assets consist of the following: (In Thousands) March 31, 2024 December 31, 2023 Prepaid Expenses $ 16,923 $ 17,768 Prepaid Lease Merchandise 7,965 9,944 Prepaid Software Expenses 11,174 8,624 Unamortized Initial Direct Costs on Lease Agreement Originations 5,544 7,192 Other Assets 7,368 7,183 Prepaid Expenses and Other Assets $ 48,974 $ 50,711 The Company incurs costs to implement cloud computing arrangements ("CCA") that are hosted by third-party vendors. Implementation costs associated with CCA are capitalized when incurred during the application development phase and are recorded within prepaid software expenses above. Amortization is calculated on a straight-line basis over the contractual term of the arrangement and is included within computer software expense as a component of operating expenses in the condensed consolidated statements of earnings. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consist of the following: (In Thousands) March 31, 2024 December 31, 2023 Accounts Payable $ 17,054 $ 20,237 Accrued Salaries and Benefits 18,020 27,256 Accrued Sales and Personal Property Taxes 13,325 11,684 Income Taxes Payable 903 1,153 Uncertain Tax Positions 1 56,011 54,995 Accrued Vendor Rebates 3,968 11,446 Other Accrued Expenses and Liabilities 30,562 24,488 Accounts Payable and Accrued Expenses $ 139,843 $ 151,259 1 The uncertain tax positions as of March 31, 2024 and December 31, 2023 are primarily related to the Company’s tax treatment of the $175.0 million settlement payment made in 2020 to the FTC as discussed in Note 9 to the consolidated financial statements in the 2023 Annual Report. Debt On November 24, 2020, the Company entered into a credit agreement with a consortium of lenders providing for a $350.0 million senior revolving credit facility (the "Revolving Facility"), under which revolving borrowings became available at the completion of the separation and distribution transaction through which the Company's historical Aaron's Business segment was spun-off into a separate company, and under which all borrowings and commitments will mature or terminate on November 24, 2025. The Company expects that the Revolving Facility will be used to provide for working capital and capital expenditures, to finance future permitted acquisitions, and for other general corporate purposes. If the Company's total net debt to EBITDA ratio as defined by the Revolving Facility exceeds 1.25, the Revolving Facility becomes fully secured for the remaining duration of the Revolving Facility term. As of June 30, 2022, the Company exceeded the 1.25 total net debt to EBITDA ratio and the Revolving Facility became fully secured. The Company had no outstanding borrowings and $350.0 million total available credit under the Revolving Facility as of March 31, 2024 and December 31, 2023. On November 26, 2021, the Company entered into an indenture in connection with an offering of $600 million aggregate principal amount of its 6.00% senior unsecured notes due 2029 (the "Senior Notes"). The Senior Notes were issued at 100% of their par value. The Senior Notes are general unsecured obligations of the Company and are guaranteed by certain of the Company’s existing and future domestic subsidiaries. The net proceeds from the Senior Notes were used to fund the purchase price, and related fees and expenses, of the Company’s tender offer to purchase $425 million of the Company’s common stock as discussed in Note 12 to the consolidated financial statements in the 2023 Annual Report. Any remaining proceeds were intended for future share repurchases or, to the extent the Company determines not to repurchase additional shares, for general corporate purposes. At March 31, 2024, the Company was in compliance with all covenants related to its outstanding debt. See Note 8 to the consolidated financial statements in the 2023 Annual Report for further information regarding the Company's indebtedness. Goodwill Goodwill represents the excess of the purchase price paid over the fair value of the identifiable net tangible and intangible assets acquired in connection with business acquisitions. Progressive Leasing and Four are the only reporting units with goodwill as of March 31, 2024. Impairment occurs when the reporting unit's carrying value exceeds its fair value. The Company’s goodwill is not amortized but is subject to an impairment test at the reporting unit level annually as of October 1 and more frequently if events or circumstances indicate that an impairment may have occurred. Factors which could necessitate an interim impairment assessment include a sustained decline in the Company’s stock price, prolonged negative industry or economic trends and significant underperformance relative to historical results, projected future operating results, or the Company failing to successfully execute on one or more elements of Progressive Leasing and/or Four's strategic plans. The Company completed qualitative assessments for its annual goodwill impairment test for both Progressive Leasing and Four as of October 1, 2023. The qualitative assessments did not present any indicators of impairment and the Company concluded that no impairment had occurred. The Company determined that there were no events or circumstances that occurred during the three months ended March 31, 2024 that would more likely than not reduce the fair value of Progressive Leasing or Four below their carrying amounts. Shareholders' Equity Changes in shareholders' equity for the three months ended March 31, 2024 and 2023 are as follows: Treasury Stock Common Stock Additional Retained Earnings Total Shareholders’ Equity (In Thousands) Shares Amount Shares Amount Balance, December 31, 2023 (38,405) $ (1,095,202) 82,079 $ 41,039 $ 352,421 $ 1,293,073 $ 591,331 Cash Dividends, $0.12 per share — — — — — (5,337) (5,337) Stock-Based Compensation — — — — 6,689 — 6,689 Reissued Shares 281 7,391 — — (12,460) — (5,069) Repurchased Shares (781) (24,490) — — — — (24,490) Net Earnings — — — — — 21,966 21,966 Balance, March 31, 2024 (38,905) $ (1,112,301) 82,079 $ 41,039 $ 346,650 $ 1,309,702 $ 585,090 Treasury Stock Common Stock Additional Retained Earnings Total Shareholders’ Equity (In Thousands) Shares Amount Shares Amount Balance, December 31, 2022 (34,044) $ (963,627) 82,079 $ 41,039 $ 338,814 $ 1,154,235 $ 570,461 Stock-Based Compensation — — — — 5,460 — 5,460 Reissued Shares 166 4,778 — — (7,171) — (2,393) Repurchased Shares (1,459) (36,769) — — — — (36,769) Net Earnings — — — — — 48,033 48,033 Balance, March 31, 2023 (35,337) $ (995,618) 82,079 $ 41,039 $ 337,103 $ 1,202,268 $ 584,792 Stock-Based Compensation During the three months ended March 31, 2024, the Company issued 547,706 restricted stock units and 270,336 performance share units to certain employees, which vest over one one Stock-based Compensation . Cybersecurity Incident During the third quarter of 2023, Progressive Leasing experienced a cybersecurity incident affecting certain data and IT systems of Progressive Leasing. Promptly after detecting the incident, the Company engaged third-party cybersecurity experts and took immediate steps to respond to, remediate and investigate the incident. Law enforcement was also notified. Based on the Company's investigation, the Company determined that the data involved in the incident contained a substantial amount of personally identifiable information, including social security numbers, of Progressive Leasing's customers and other individuals. With the assistance of our cybersecurity experts, the Company located the Progressive Leasing customers and other individuals whose information was impacted and notified them, consistent with state and federal requirements. The Company also took a number of additional measures to demonstrate its continued support and commitment to data privacy and protection. During the three months ended March 31, 2024, the Company incurred $0.1 million for costs related to the cybersecurity incident, resulting in aggregate expenses of $2.9 million since the incident occurred. These costs related primarily to third-party legal and consulting services and credit monitoring services for Progressive Leasing's customers and employees that were impacted. Those costs are included within professional services expense as a component of operating expenses in the condensed consolidated statements of earnings. At March 31, 2024, the Company had $0.4 million accrued for costs related to the cybersecurity incident, which are included in accounts payable and accrued expenses in the condensed consolidated balance sheets. Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: Level 1—Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3—Valuations based on unobservable inputs reflecting the Company's own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. The Company measures a liability related to its non-qualified deferred compensation plan, which represents benefits accrued for plan participants and is valued at the quoted market prices of the participants' investment election, at fair value on a recurring basis. The Company maintains certain financial assets and liabilities that are not measured at fair value but for which fair value is disclosed. The fair values of the Company's other current financial assets and liabilities, including cash and cash equivalents, accounts receivable and accounts payable, approximate their carrying values due to their short-term nature. Recent Accounting Pronouncements There have been no recent accounting pronouncements issued which are expected to have a material effect on the Company's financial statements. Management continues to monitor and review recently issued accounting guidance upon issuance.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes financial liabilities measured at fair value on a recurring basis: (In Thousands) March 31, 2024 December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Deferred Compensation Liability $ — $ 2,520 $ — $ — $ 2,487 $ — The Company maintains the PROG Holdings, Inc. Deferred Compensation Plan, which is an unfunded, nonqualified deferred compensation plan for a select group of management, highly compensated employees and non-employee directors. The liability is recorded in accounts payable and accrued expenses in the condensed consolidated balance sheets. The liability represents benefits accrued for plan participants and is valued at the quoted market prices of the participants’ investment elections, which consist of equity and debt "mirror" funds. As such, the Company has classified the deferred compensation liability as a Level 2 liability. Financial Assets and Liabilities Not Measured at Fair Value for Which Fair Value is Disclosed Vive's loans receivable are measured at amortized cost, net of an allowance for loan losses and unamortized fees in the condensed consolidated balance sheets. In estimating fair value for Vive's loans receivable, the Company utilized a discounted cash flow methodology. The Company used various unobservable inputs reflecting its own assumptions, such as contractual future principal and interest cash flows, future loss rates, and discount rates (which consider current interest rates and are adjusted for credit risk, among other factors). Four's loans receivable, net of an allowance for loan losses and unamortized fees, are included within loans receivable, net in the condensed consolidated balance sheets and approximated fair value based on a discounted cash flow methodology. On November 26, 2021, the Company entered into an indenture in connection with its offering of $600 million aggregate principal amount of its Senior Notes due in 2029. The Senior Notes are carried at amortized cost in the condensed consolidated balance sheets and are measured at fair value for disclosure purposes. The fair value of the Senior Notes was estimated based on quoted market prices in less active markets and has been classified as Level 2 in the fair value hierarchy. The following table summarizes the fair value of the Company's debt and the loans receivable held by Vive and Four: (In Thousands) March 31, 2024 December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Senior Notes $ — $ 559,380 $ — $ — $ 559,500 $ — Loans Receivable, Net $ — $ — $ 142,690 $ — $ — $ 148,466

LOANS RECEIVABLE

LOANS RECEIVABLE	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
LOANS RECEIVABLE	LOANS RECEIVABLE The following is a summary of the Company’s loans receivable, net: (In Thousands) March 31, 2024 December 31, 2023 Loans Receivable, Gross $ 165,612 $ 176,845 Unamortized Fees (8,687) (9,402) Loans Receivable, Amortized Cost 156,925 167,443 Allowance for Loan Losses (38,997) (40,620) Loans Receivable, Net of Allowances and Unamortized Fees 1 $ 117,928 $ 126,823 1 Loans Receivable, Net of Allowances and Unamortized Fees, attributable to Four was $10.3 million and $13.9 million as of March 31, 2024 and December 31, 2023, respectively. The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year: As of March 31, 2024 (In Thousands) 2024 2023 2022 and Prior Revolving Loans Total FICO Score Category: 600 or Less $ — $ — $ — $ 10,530 $ 10,530 Between 600 and 700 — — — 114,187 114,187 700 or Greater — — — 17,280 17,280 No Score Identified 13,759 1,169 — — 14,928 Total Amortized Cost $ 13,759 $ 1,169 $ — $ 141,997 $ 156,925 Gross Charge-offs by Origination Year for the Three Months Ended March 31, 2024 $ 689 $ 1,935 $ — $ 11,799 $ 14,423 Included in the table below is an aging of the loans receivable, gross balance: (Dollar Amounts in Thousands) Aging Category March 31, 2024 December 31, 2023 30-59 Days Past Due 5.6 % 7.3 % 60-89 Days Past Due 3.4 % 3.8 % 90 or More Days Past Due 5.5 % 5.4 % Past Due Loans Receivable 14.5 % 16.5 % Current Loans Receivable 85.5 % 83.5 % Balance of Credit Card Loans on Nonaccrual Status $ 4,359 $ 4,482 Balance of Loans Receivable Greater than 90 Days Past Due and Still Accruing Interest and Fees $ — $ — The table below presents the components of the allowance for loan losses: Three Months Ended March 31, (In Thousands) 2024 2023 Beginning Balance $ 40,620 $ 42,428 Provision for Loan Losses 11,049 8,714 Charge-offs (14,423) (12,737) Recoveries 1,751 1,376 Ending Balance $ 38,997 $ 39,781

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal and Regulatory Proceedings From time to time, the Company is party to various legal and regulatory proceedings arising in the ordinary course of business. Some of the proceedings to which the Company is currently a party are described below. The Company believes it has meritorious defenses to all of the claims described below, and intends to vigorously defend against the claims. However, these proceedings are still developing and due to the inherent uncertainty in litigation, regulatory and similar adversarial proceedings, there can be no guarantee that the Company will ultimately be successful in these proceedings, or in others to which it is currently a party. Substantial losses from these proceedings or the costs of defending them could have a material adverse impact upon the Company’s business, financial position and results of operations. The Company establishes an accrued liability for legal and regulatory proceedings when it determines that a loss is both probable and the amount of the loss can be reasonably estimated. The Company continually monitors its litigation and regulatory exposure and reviews the adequacy of its legal and regulatory reserves on a quarterly basis. The amount of any loss ultimately incurred in relation to matters for which an accrual has been established may be higher or lower than the amounts accrued for such matters. At March 31, 2024 and December 31, 2023, the Company had accrued $0.2 million and $1.2 million, respectively, for pending legal and regulatory matters for which it believes losses are probable and the amount of the loss can be reasonably estimated. The Company records its best estimate of the loss to legal and regulatory liabilities in accounts payable and accrued expenses in the condensed consolidated balance sheets. The Company estimates the aggregate range of reasonably possible loss in excess of accrued liabilities for such probable loss contingencies is immaterial. Those matters for which a probable loss cannot be reasonably estimated are not included within the estimated ranges. At March 31, 2024, the Company estimated that the aggregate range of loss for all material pending legal and regulatory proceedings for which a loss is reasonably possible, but less likely than probable (i.e., excluding the contingencies described in the preceding paragraph), is immaterial. Those matters for which a reasonable estimate is not possible are not included within estimated ranges and, therefore, the estimated ranges do not represent the Company's maximum loss exposure. The Company’s estimates for legal and regulatory accruals, aggregate probable loss amounts and reasonably possible loss amounts are all subject to the uncertainties and variables described above. Regulatory Inquiries In January 2021, the Company, along with other lease-to-own companies, received a subpoena from the California Department of Financial Protection and Innovation (the "DFPI") requesting the production of documents regarding the Company’s compliance with state consumer protection laws, including new legislation that went into effect on January 1, 2021. Although the Company believes it is in compliance with all applicable consumer financial laws and regulations in California, this inquiry may lead to an enforcement action and/or a consent order, and substantial costs, including legal fees, fines, penalties, and remediation expenses. While the Company intends to preserve defenses surrounding the jurisdiction of DFPI in this matter, it has fully cooperated, and anticipates continuing to cooperate, with the DFPI in responding to its inquiry. Litigation Matters On August 25, 2022, the Pennsylvania Attorney General filed a complaint against Progressive Leasing in the Philadelphia County Court of Common Pleas alleging, among other things, that Progressive Leasing was operating in the Commonwealth of Pennsylvania in violation of the Pennsylvania Rental Purchase Agreement Act by failing to disclose certain terms and conditions of rent-to-own ("RTO") transactions on "hang tags" physically attached to RTO merchandise. Although Progressive Leasing believed the Pennsylvania Attorney General's claims were without merit, it entered into a settlement agreement with the Attorney General in January 2024, pursuant to which the Attorney General agreed to release its claims against Progressive Leasing. The Court approved the settlement on January 26, 2024 resulting in a $1.0 million settlement, which was paid by the Company during the first quarter of 2024. During the third quarter of 2023, Progressive Leasing experienced a cybersecurity incident affecting certain data and IT systems of Progressive Leasing. Promptly after detecting the incident, the Company engaged third-party cybersecurity experts and took immediate steps to respond to, remediate and investigate the incident. Law enforcement was also notified. Based on the Company's investigation, the Company determined that the data involved in the incident contained a substantial amount of personally identifiable information, including social security numbers, of Progressive Leasing's customers and other individuals. With the assistance of our cybersecurity experts, the Company located the Progressive Leasing customers and other individuals whose information was impacted and notified them, consistent with state and federal requirements. The Company also took a number of additional measures to demonstrate its continued support and commitment to data privacy and protection. The investigation is nearly complete and the Company believes it has a full view of the compromised data. As a result of the cybersecurity incident, Progressive Leasing has become subject to multiple lawsuits which allege, among other things, the incurrence of various types of damages arising out of the incident. As of the date of this Form 10-Q, all of these lawsuits have been consolidated into a single action in the United States District Court for the District of Utah (the "District Court") and the plaintiffs filed a consolidated complaint on April 19, 2024. Progressive Leasing intends to vigorously defend itself against the lawsuit; however, at this time, the Company is unable to determine or predict the outcome of this lawsuit or reasonably provide an estimate or range of the possible losses, if any. The Company also maintains cybersecurity insurance coverage, subject to a $1.0 million retention, to limit the exposure to losses such as those related to the cybersecurity incident and lawsuits stemming therefrom; however, there can be no assurance that such insurance coverage will be adequate to cover all of the losses, costs and expenses related thereto or that the insurers will agree to cover such losses, costs and expenses. Other Contingencies Management regularly assesses the Company’s insurance deductibles, monitors the Company's litigation and regulatory exposure with the Company's attorneys and evaluates its loss experience. The Company also enters into various contracts in the normal course of business that may subject it to risk of financial loss if counterparties fail to perform their contractual obligations. Off-Balance Sheet Risk The Company, through its Vive segment, had unconditionally cancellable unfunded lending commitments totaling $527.4 million and $523.9 million as of March 31, 2024 and December 31, 2023, respectively, that do not give rise to revenues and cash flows. These unfunded commitments arise in the ordinary course of business from credit card agreements with individual cardholders that give them the ability to borrow, against unused amounts, up to the maximum credit limit assigned to their account. While these unfunded amounts represent the total available unused lines of credit, the Company does not anticipate that all cardholders will utilize their entire available line at any given point in time. Commitments to extend unsecured credit are agreements to lend to a cardholder so long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.

RESTRUCTURING EXPENSES

RESTRUCTURING EXPENSES	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING EXPENSES	RESTRUCTURING EXPENSES During 2022, the Company initiated restructuring activities intended to reduce expenses, consolidate certain segment corporate headquarters, and align the cost structure of the business with the Company's near-term revenue outlook. The Company continued such activities during the period and recorded restructuring expenses of $18.0 million during the three months ended March 31, 2024, resulting in aggregate expenses of $39.5 million since the inception of the restructuring activities in 2022. These costs were primarily comprised of early contract termination costs related to certain independent sales agreements, employee severance within Progressive Leasing, and operating lease right-of-use asset impairment charges related to the relocation of the Vive corporate headquarters to the Company's corporate office building and a reduction of management and information technology space. The Company will continue to monitor the impacts of changes in macroeconomic conditions on its businesses and may take additional steps to further adjust the Company's cost structure based on unfavorable changes in these conditions, which may result in further restructuring charges in future periods. The following tables summarize restructuring charges recorded within operating expenses in the condensed consolidated statements of earnings for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 (In Thousands) Progressive Leasing Vive Other Total Severance $ 4,106 $ — $ — $ 4,106 Right-of-Use Asset Impairment 1 4,515 — — 4,515 Property and Equipment Impairment 1,503 — — 1,503 Early Contract Termination Costs 7,750 — — 7,750 Other Restructuring Activities 140 — — 140 Total Restructuring Expenses $ 18,014 $ — $ — $ 18,014 1 To determine the amount of impairment for vacated office space, the fair value of the ROU asset is calculated based on the present value of the estimated net cash flows related to asset. Three Months Ended March 31, 2023 (In Thousands) Progressive Leasing Vive Other Total Severance $ 793 $ — $ — $ 793 Other Restructuring Activities (36) — — (36) Total Restructuring Expenses $ 757 $ — $ — $ 757 The following table summarizes the accrual and payment activity related to the restructuring program for the three months ended March 31, 2024 and 2023: (In Thousands) Severance Early Contract Termination Costs Other Restructuring Activities Total Balance at December 31, 2023 $ 2,675 $ 2,500 $ — $ 5,175 Charges 4,106 7,750 140 11,996 Cash Payments (4,608) (10,250) (110) (14,968) Balance at March 31, 2024 $ 2,173 $ — $ 30 $ 2,203 (In Thousands) Severance Other Restructuring Activities Total Balance at December 31, 2022 $ 3,061 $ 42 $ 3,103 Charges 793 (36) 757 Cash Payments (601) (4) (605) Balance at March 31, 2023 $ 3,253 $ 2 $ 3,255

SEGMENTS

SEGMENTS	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENTS	SEGMENTS As of March 31, 2024, the Company has two reportable segments: Progressive Leasing and Vive. Progressive Leasing partners with traditional and e-commerce retailers, primarily in the consumer residential electronics, furniture and appliance, jewelry, mobile phones and accessories, mattresses, and automobile electronics and accessories industries to offer a lease-purchase solution primarily for customers who may not have access to traditional credit-based financing options. It does so by offering leases with monthly, semi-monthly, bi-weekly and weekly payment frequencies. Vive offers a variety of second-look financing programs originated through third-party federally insured banks to customers of participating merchants and, together with Progressive Leasing, allows the Company to provide POS partners with near-prime and below-prime customers one source for financing and leasing transactions. Four is an innovative BNPL company that allows shoppers to pay for merchandise through four interest-free installments. Four is not a reportable segment for the three month periods ended March 31, 2024 and 2023 as its financial results are not material to the Company's condensed consolidated financial results. The revenues, loss before income taxes, and assets within Other below are primarily comprised of the operating activities of Four. Disaggregated Revenue The following table presents revenue by source and by segment for the three months ended March 31, 2024: Three Months Ended March 31, 2024 (In Thousands) Progressive Leasing Vive Other Total Lease Revenues and Fees 1 $ 620,550 $ — $ — $ 620,550 Interest and Fees on Loans Receivable 2 — 16,051 5,269 21,320 Total $ 620,550 $ 16,051 $ 5,269 $ 641,870 1 Revenue within the scope of ASC 842, Leases . 2 Revenue within the scope of ASC 310, Receivables . Also included within Interest and Fees on Loans Receivable is $1.4 million of subscription fee and interchange revenue within the scope of ASC 606, Revenue from Contracts with Customers . The following table presents revenue by source and by segment for the three months ended March 31, 2023: Three Months Ended March 31, 2023 (In Thousands) Progressive Leasing Vive Other Total Lease Revenues and Fees 1 $ 637,082 $ — $ — $ 637,082 Interest and Fees on Loans Receivable 2 — 17,153 905 18,058 Total $ 637,082 $ 17,153 $ 905 $ 655,140 1 Revenue within the scope of ASC 842, Leases . 2 Revenue within the scope of ASC 310, Receivables . Measurement of Segment Profit or Loss and Segment Assets The Company evaluates performance and allocates resources based on revenues and earnings (loss) before income tax expense. The Company determines earnings (loss) before income tax expense for all reportable segments in accordance with U.S. GAAP. The Company incurred various corporate overhead expenses for certain executive management, finance, treasury, tax, audit, legal, risk management, and other overhead functions during the three months ended March 31, 2024 and 2023. Corporate overhead expenses incurred are primarily reflected as expenses of the Progressive Leasing segment and an immaterial amount was allocated to the Vive segment and Other. The allocation of corporate overhead costs to Progressive Leasing, Vive and Other is consistent with how the chief operating decision maker analyzed performance and allocated resources among the segments of the Company during the three months ended March 31, 2024 and 2023. The following is a summary of earnings before income tax expense by segment: Three Months Ended March 31, (In Thousands) 2024 2023 Earnings Before Income Tax Expense: Progressive Leasing $ 35,453 $ 71,051 Vive 918 2,163 Other (4,804) (5,627) Total Earnings Before Income Tax Expense $ 31,567 $ 67,587 During the three months ended March 31, 2024, the results of Progressive Leasing earnings before income tax expense were impacted by $18.0 million associated with the restructuring activities. These expenses were primarily comprised of early contract termination costs, operating lease right-of-use asset and other fixed asset impairment charges related to a reduction of office space, and employee severance costs. The results of the Company's operating segments were not impacted by any significant unusual items during the three months ended March 31, 2023. The following is a summary of total assets by segment: (In Thousands) March 31, 2024 December 31, 2023 Assets: Progressive Leasing $ 1,276,123 $ 1,286,587 Vive 136,521 141,028 Other 49,022 63,640 Total Assets $ 1,461,666 $ 1,491,255 The following table presents additional segment profit or loss information for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (In Thousands) 2024 2023 Depreciation and Amortization: Progressive Leasing $ 7,231 $ 7,326 Vive 166 168 Other 621 485 Total Depreciation and Amortization 1 $ 8,018 $ 7,979 Depreciation of Lease Merchandise: Progressive Leasing $ 431,571 $ 435,439 Vive — — Other — — Total Depreciation of Lease Merchandise $ 431,571 $ 435,439 Interest Expense, Net: Interest Expense: Progressive Leasing $ 9,993 $ 9,407 Vive — 291 Other — — Intercompany Elimination (317) — Interest Income: Progressive Leasing $ (1,426) $ (1,207) Vive — — Other (317) — Intercompany Elimination 317 — Total Interest Expense, Net $ 8,250 $ 8,491 Capital Expenditures 2 : Progressive Leasing $ 1,405 $ 1,006 Vive 68 103 Other 623 569 Total Capital Expenditures $ 2,096 $ 1,678 1 Excludes depreciation of lease merchandise, which is not included in the chief operating decision maker's measure of depreciation and amortization. 2 Capital expenditures primarily consists of internal-use software, as well as computer hardware and furniture and equipment.

BASIS AND SUMMARY OF SIGNIFIC_2

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Description of Business	Description of Business PROG Holdings, Inc. ("we," "our," "us," the "Company," or "PROG Holdings") is a financial technology holding company that provides transparent and competitive payment options to consumers. PROG Holdings has two reportable segments: (i) Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider; and (ii) Vive Financial ("Vive"), an omnichannel provider of second-look revolving credit products. Our Progressive Leasing segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce website partners in the United States and Puerto Rico (collectively, "POS partners"). It does so by purchasing merchandise from the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-own transaction. Progressive Leasing has no stores of its own, but rather offers lease-purchase solutions to the customers of traditional and e-commerce retailers. Our Vive segment primarily serves customers that may not qualify for traditional prime lending offers who desire to purchase goods and services from participating merchants. Vive offers customized programs, with services that include revolving loans through private label and Vive-branded credit cards. Vive's current network of POS partner locations and e-commerce websites includes furniture, mattresses, home exercise equipment, and home improvement retailers, as well as medical and dental service providers. PROG Holdings’ ecosystem of financial technology offerings also includes Four Technologies, Inc. ("Four"), a Buy Now, Pay Later ("BNPL") company that allows shoppers to pay for merchandise through four interest-free installments. Shoppers use Four to purchase furniture, clothing, electronics, health and beauty products, footwear, jewelry, and other consumer goods from retailers across the United States. Four is not a reportable segment for the three-month period ended March 31, 2024 as its financial results are not material to the Company's condensed consolidated financial results.
Basis of Presentation	Basis of Presentation The preparation of the Company's condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Management does not believe these estimates or assumptions will change significantly in the future absent unidentified and unforeseen events, such as the possible direct or indirect impacts associated with elevated inflation, increasing unemployment rates, the resumption of student loan repayments, and/or the possibility of a recession in the United States. The accompanying unaudited condensed consolidated financial statements do not include all information required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included in the accompanying unaudited condensed consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Annual Report") filed with the United States Securities and Exchange Commission on February 21, 2024. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of operating results for the full year.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of PROG Holdings, Inc. and its subsidiaries, each of which is wholly-owned. Intercompany balances and transactions between consolidated entities have been eliminated.
Earnings Per Share	Earnings Per Share
Revenue Recognition	Revenue Recognition Lease Revenues and Fees Progressive Leasing provides merchandise, consisting primarily of furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, automobile electronics and accessories, and a variety of other products, to its customers for lease under terms agreed to by the customer. Progressive Leasing offers customers of traditional and e-commerce retailers a lease-purchase solution through leases with payment terms that can generally be renewed up to 12 months. Progressive Leasing does not require deposits upon inception of customer agreements. The customer has the right to acquire ownership either through early buyout options or through payment of all required lease payments. The agreements are cancellable at any time by either party without penalty. All of Progressive Leasing's customer agreements are considered operating leases. The Company maintains ownership of the lease merchandise until all payment obligations are satisfied under the lease ownership agreements. Initial lease payments made by the customer upon lease execution are recognized as deferred revenue and are amortized as lease revenue over the estimated lease term on a straight-line basis. Initial lease payments and other payments collected in advance of being due or earned are recognized as deferred revenue within customer deposits and advance payments in the accompanying condensed consolidated balance sheets. All other customer lease billings are earned prior to the lease payment due date and are recorded net of related sales taxes as earned. Payment due date terms include weekly, bi-weekly, semi-monthly and monthly frequencies. Revenue recorded prior to the payment due date results in unbilled receivables recognized in accounts receivable, net of allowances, in the accompanying condensed consolidated balance sheets. Lease revenues are recorded net of a provision for uncollectible renewal payments. Initial direct costs related to lease purchase agreements are capitalized as incurred and amortized as operating expense over the estimated lease term. The capitalized costs have been classified within prepaid expenses and other assets in the accompanying condensed consolidated balance sheets.
Interest and Fees on Loans Receivable	Interest and Fees on Loans Receivable Interest and fees on loans receivable is primarily generated from our Vive segment. Vive extends or declines credit to an applicant through its bank partners based upon the applicant's credit rating and other factors. Qualifying applicants are approved for a specified maximum revolving credit card line to finance their initial purchase and to use in subsequent purchases at the merchant or other participating merchants for an initial 24-month period, which Vive may renew if the cardholder remains in good standing. Vive acquires the loan receivable from its third-party bank partners at a discount from the face value of the loan. The discount is comprised of a merchant fee discount and a promotional fee discount, if applicable. The merchant fee discount represents a pre-negotiated, nonrefundable discount that generally ranges from 3% to 25% of the loan face value. The discount is designed to cover the risk of loss related to the portfolio of cardholder charges and Vive's direct origination costs. The merchant fee discount and origination costs are presented net in the condensed consolidated balance sheets in loans receivable. Cardholders generally have an initial 24-month period that the card is active. The merchant fee discount, net of the origination costs, is amortized on a net basis and is recorded as interest and fees on loans receivable in the condensed consolidated statements of earnings on a straight-line basis over the initial 24-month period. If the loan receivable is paid off or charged off during the 24-month period, the remaining net merchant fee discount is recognized as interest and fees on loans receivable at that time. The discount from the face value of the loan on the acquisition of the loan receivable from the merchant through the third-party bank partners may also include a promotional fee discount, which generally ranges from 1% to 8%. The promotional fee discount is intended to compensate the holder of the loan receivable (i.e., Vive) for deferred or reduced interest rates that are offered to the cardholder for a specified period on the outstanding loan balance (generally for six six The customer is typically required to make monthly minimum payments of at least 3.5% of the outstanding loan balance, which includes outstanding interest. Fixed and variable interest rates, typically 27% to 35.99%, are compounded daily for cards that do not qualify for deferred or reduced interest promotional periods. Interest income, which is recognized based upon the amount of the loans outstanding, is recognized as interest and fees on loans receivable when earned if collectibility is reasonably assured. For credit cards that provide deferred interest, if the balance is not paid off during the promotional period or if the cardholder defaults, interest is billed to the customers at standard rates and the cumulative amount owed is charged to the cardholder account in the month that the promotional period expires. The Company recognizes interest revenue during the promotional period based on its historical experience related to cardholders that fail to pay off balances during the promotional period if collectibility is reasonably assured. Annual fees are charged to cardholders at the commencement of the loan and on each subsequent anniversary date. Annual fees are deferred and recognized into revenue on a straight-line basis over a one-year period. Under the provisions of the credit card agreements, Vive also may assess fees for missed or late payments, which are recognized as revenue in the billing period in which they are assessed if collectibility is reasonably assured. Annual fees and other fees are recognized as interest and fees on loans receivable in the condensed consolidated statements of earnings.
Accounts Receivable	Accounts Receivable Accounts receivable consist primarily of receivables due from customers of Progressive Leasing and amounted to $62.0 million and $67.9 million, net of allowances, as of March 31, 2024 and December 31, 2023, respectively. The Company maintains an accounts receivable allowance, which primarily relates to its Progressive Leasing operations and, to a lesser extent, receivables from Vive's POS partners. The Company’s policy is to record an allowance for uncollectible renewal payments based on historical collection experience. Other qualitative factors, such as current and forecasted business trends, are considered in estimating the allowance. Given the significant uncertainty regarding the impacts of inflation, elevated interest rates, the resumption of student loan repayments, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of March 31, 2024. Therefore, actual future accounts receivable write-offs may differ materially from the allowance. The provision for uncollectible renewal payments is recorded as a reduction of lease revenues and fees within the condensed consolidated statements of earnings. For customer lease agreements that are past due, the Company's policy is to write off lease receivables after 120 days. Vive's allowance for uncollectible merchant accounts receivable, which primarily relates to cardholder returns and refunds, and is an immaterial amount related to Vive's bad debt expense, is recorded within operating expenses in the condensed consolidated statements of earnings. See below for a discussion of Vive's loans receivable and related allowance for loan losses.
Lease Merchandise	Lease Merchandise Progressive Leasing's merchandise consists primarily of furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, automobile electronics and accessories, and a variety of other products, and is recorded at the lower of depreciated cost or net realizable value. Progressive Leasing depreciates lease merchandise to a 0% salvage value generally over 12 months. Depreciation is accelerated upon early buyout. All of Progressive Leasing's merchandise, net of accumulated depreciation and allowances, represents on-lease merchandise. The Company records a provision for write-offs using the allowance method. The allowance method for lease merchandise write-offs estimates the merchandise losses incurred but not yet identified by management as of the end of the accounting period based on historical write-off experience. Other qualitative factors, such as current and forecasted customer payment trends, are considered in estimating the allowance. Given the significant uncertainty regarding the impacts of inflation, elevated interest rates, the resumption of student loan repayments, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of March 31, 2024. Actual lease merchandise write-offs may differ materially from the allowance as of March 31, 2024. For customer lease agreements that are past due, the Company's policy is to write off lease merchandise after 120 days.
Loans Receivable, Net	Loans Receivable, Net Gross loans receivable primarily represents the principal balances of credit card charges at Vive's participating merchants that remain due from cardholders, plus unpaid interest and fees due from cardholders. The allowance and unamortized fees represent uncollectible amounts; merchant fee discounts, net of capitalized origination costs; promotional fee discounts; and deferred annual card fees. Loans receivable, net, also includes $10.3 million and $13.9 million of outstanding receivables from customers of Four as of March 31, 2024 and December 31, 2023, respectively. Economic conditions and loan performance trends are closely monitored to manage and evaluate exposure to credit risk. Trends in delinquency rates are an indicator of credit risk within the loans receivable portfolio, including the migration of loans between delinquency categories over time. Charge-off rates represent another indicator of the potential for future credit losses. The risk in the loans receivable portfolio is correlated with broad economic trends, such as current and projected unemployment rates, stock market volatility, and changes in medium and long-term risk-free rates, which are considered in determining the allowance for loan losses and can have a material effect on credit performance. Expected lifetime losses on loans receivable are recognized upon loan acquisition, which requires the Company to make its best estimate of probable lifetime losses at the time of acquisition. Vive's credit card loans do not have contractually stated maturity dates, which requires the Company to estimate an average life of loan by analyzing historical payment trends to determine an expected remaining life of the loan balance. The Company segments its loans receivable portfolio into homogenous pools by Fair Isaac and Company ("FICO") score and by delinquency status and evaluates loans receivable collectively for impairment when similar risk characteristics exist. The Company calculates Vive's allowance for loan losses based on internal historical loss information and incorporates observable and forecasted macroeconomic data over a six-month reasonable and supportable forecast period. Incorporating macroeconomic data could have a material impact on the measurement of the allowance to the extent that forecasted data changes significantly, such as higher forecasted inflation and unemployment rates. Subsequent to the six-month reasonable and supportable forecast period described above, the Company reverts to using historical loss information on a straight-line basis over a three-month period. The Company may also consider other qualitative factors in estimating the allowance, as necessary. For the purposes of determining the allowance as of March 31, 2024, management considered qualitative factors such as the tightening of Vive's loan decisioning in mid-2022 and macroeconomic conditions associated with the impacts of increased inflation, unemployment rates, and/or the possibility of a recession in the United States. The allowance for loan losses is maintained at a level considered appropriate to cover expected future losses of principal, interest and fees on active loans in the loans receivable portfolio. The appropriateness of the allowance is evaluated at each period end. To the extent that actual results differ from estimates of uncollectible loans receivable, the Company's results of operations and liquidity may be materially affected. Vive's delinquent loans receivable includes those that are 30 days or more past due based on their contractual billing dates. Vive's loans receivable are placed on nonaccrual status when they are greater than 90 days past due or upon notification of cardholder bankruptcy, death or fraud. The Company discontinues accruing interest and fees and amortizing merchant fee discounts and promotional fee discounts for Vive's loans receivable in nonaccrual status. Loans receivable are removed from nonaccrual status when cardholder payments resume, the loan becomes 90 days or less past due and collection of the remaining amounts outstanding is deemed probable. Payments received on nonaccrual loans are allocated according to the same payment hierarchy methodology applied to loans that are accruing interest. Loans receivable are charged off no later than the end of the following month after the billing cycle in which the loans receivable become 120 days past due.
Goodwill	Goodwill Goodwill represents the excess of the purchase price paid over the fair value of the identifiable net tangible and intangible assets acquired in connection with business acquisitions. Progressive Leasing and Four are the only reporting units with goodwill as of March 31, 2024. Impairment occurs when the reporting unit's carrying value exceeds its fair value. The Company’s goodwill is not amortized but is subject to an impairment test at the reporting unit level annually as of October 1 and more frequently if events or circumstances indicate that an impairment may have occurred. Factors which could necessitate an interim impairment assessment include a sustained decline in the Company’s stock price, prolonged negative industry or economic trends and significant underperformance relative to historical results, projected future operating results, or the Company failing to successfully execute on one or more elements of Progressive Leasing and/or Four's strategic plans. The Company completed qualitative assessments for its annual goodwill impairment test for both Progressive Leasing and Four as of October 1, 2023. The qualitative assessments did not present any indicators of impairment and the Company concluded that no impairment had occurred. The Company determined that there were no events or circumstances that occurred during the three months ended March 31, 2024 that would more likely than not reduce the fair value of Progressive Leasing or Four below their carrying amounts.
Stock-Based Compensation	Stock-Based Compensation During the three months ended March 31, 2024, the Company issued 547,706 restricted stock units and 270,336 performance share units to certain employees, which vest over one one Stock-based Compensation .
Cybersecurity Incident	Cybersecurity Incident During the third quarter of 2023, Progressive Leasing experienced a cybersecurity incident affecting certain data and IT systems of Progressive Leasing. Promptly after detecting the incident, the Company engaged third-party cybersecurity experts and took immediate steps to respond to, remediate and investigate the incident. Law enforcement was also notified. Based on the Company's investigation, the Company determined that the data involved in the incident contained a substantial amount of personally identifiable information, including social security numbers, of Progressive Leasing's customers and other individuals. With the assistance of our cybersecurity experts, the Company located the Progressive Leasing customers and other individuals whose information was impacted and notified them, consistent with state and federal requirements. The Company also took a number of additional measures to demonstrate its continued support and commitment to data privacy and protection. During the three months ended March 31, 2024, the Company incurred $0.1 million for costs related to the cybersecurity incident, resulting in aggregate expenses of $2.9 million since the incident occurred. These costs related primarily to third-party legal and consulting services and credit monitoring services for Progressive Leasing's customers and employees that were impacted. Those costs are included within professional services expense as a component of operating expenses in the condensed consolidated statements of earnings. At March 31, 2024, the Company had $0.4 million accrued for costs related to the cybersecurity incident, which are included in accounts payable and accrued expenses in the condensed consolidated balance sheets.
Fair Value Measurement	Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: Level 1—Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3—Valuations based on unobservable inputs reflecting the Company's own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. The Company measures a liability related to its non-qualified deferred compensation plan, which represents benefits accrued for plan participants and is valued at the quoted market prices of the participants' investment election, at fair value on a recurring basis. The Company maintains certain financial assets and liabilities that are not measured at fair value but for which fair value is disclosed. The fair values of the Company's other current financial assets and liabilities, including cash and cash equivalents, accounts receivable and accounts payable, approximate their carrying values due to their short-term nature.
Recent Accounting Pronouncements	Recent Accounting Pronouncements There have been no recent accounting pronouncements issued which are expected to have a material effect on the Company's financial statements. Management continues to monitor and review recently issued accounting guidance upon issuance.

BASIS AND SUMMARY OF SIGNIFIC_3

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of Calculation of Dilutive Stock Awards	The following table shows the calculation of dilutive share-based awards: Three Months Ended March 31, (Shares In Thousands) 2024 2023 Weighted Average Shares Outstanding 43,695 47,854 Dilutive Effect of Share-Based Awards 833 285 Weighted Average Shares Outstanding Assuming Dilution 44,528 48,139
Schedule of Allowance for Doubtful Accounts	The following table shows the components of the accounts receivable allowance: Three Months Ended March 31, (In Thousands) 2024 2023 Beginning Balance $ 64,180 $ 69,264 Net Book Value of Accounts Written Off (85,287) (86,064) Recoveries 11,023 12,019 Accounts Receivable Provision 74,356 69,951 Ending Balance $ 64,272 $ 65,170
Schedule of Allowance for Lease Merchandise	The following table shows the components of the allowance for lease merchandise write-offs, which is included within lease merchandise, net in the condensed consolidated balance sheets: Three Months Ended March 31, (In Thousands) 2024 2023 Beginning Balance $ 44,180 $ 47,118 Net Book Value of Merchandise Written off (40,737) (39,432) Recoveries 1,666 1,895 Provision for Write-offs 43,141 38,364 Ending Balance $ 48,250 $ 47,945
Schedule of Loan Portfolio Credit Quality Indicators	Below is a summary of the credit quality of the Company's loan portfolio as of March 31, 2024 and December 31, 2023 by FICO score as determined at the time of loan origination: FICO Score Category March 31, 2024 December 31, 2023 600 or Less 6.6 % 6.5 % Between 600 and 700 72.6 % 73.5 % 700 or Greater 11.4 % 11.2 % No Score Identified 9.4 % 8.8 % The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year: As of March 31, 2024 (In Thousands) 2024 2023 2022 and Prior Revolving Loans Total FICO Score Category: 600 or Less $ — $ — $ — $ 10,530 $ 10,530 Between 600 and 700 — — — 114,187 114,187 700 or Greater — — — 17,280 17,280 No Score Identified 13,759 1,169 — — 14,928 Total Amortized Cost $ 13,759 $ 1,169 $ — $ 141,997 $ 156,925 Gross Charge-offs by Origination Year for the Three Months Ended March 31, 2024 $ 689 $ 1,935 $ — $ 11,799 $ 14,423
Schedule of Prepaid Expenses and Other Assets	Prepaid expenses and other assets consist of the following: (In Thousands) March 31, 2024 December 31, 2023 Prepaid Expenses $ 16,923 $ 17,768 Prepaid Lease Merchandise 7,965 9,944 Prepaid Software Expenses 11,174 8,624 Unamortized Initial Direct Costs on Lease Agreement Originations 5,544 7,192 Other Assets 7,368 7,183 Prepaid Expenses and Other Assets $ 48,974 $ 50,711
Schedule of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consist of the following: (In Thousands) March 31, 2024 December 31, 2023 Accounts Payable $ 17,054 $ 20,237 Accrued Salaries and Benefits 18,020 27,256 Accrued Sales and Personal Property Taxes 13,325 11,684 Income Taxes Payable 903 1,153 Uncertain Tax Positions 1 56,011 54,995 Accrued Vendor Rebates 3,968 11,446 Other Accrued Expenses and Liabilities 30,562 24,488 Accounts Payable and Accrued Expenses $ 139,843 $ 151,259 1 The uncertain tax positions as of March 31, 2024 and December 31, 2023 are primarily related to the Company’s tax treatment of the $175.0 million settlement payment made in 2020 to the FTC as discussed in Note 9 to the consolidated financial statements in the 2023 Annual Report.
Schedule of Stockholders Equity	Changes in shareholders' equity for the three months ended March 31, 2024 and 2023 are as follows: Treasury Stock Common Stock Additional Retained Earnings Total Shareholders’ Equity (In Thousands) Shares Amount Shares Amount Balance, December 31, 2023 (38,405) $ (1,095,202) 82,079 $ 41,039 $ 352,421 $ 1,293,073 $ 591,331 Cash Dividends, $0.12 per share — — — — — (5,337) (5,337) Stock-Based Compensation — — — — 6,689 — 6,689 Reissued Shares 281 7,391 — — (12,460) — (5,069) Repurchased Shares (781) (24,490) — — — — (24,490) Net Earnings — — — — — 21,966 21,966 Balance, March 31, 2024 (38,905) $ (1,112,301) 82,079 $ 41,039 $ 346,650 $ 1,309,702 $ 585,090 Treasury Stock Common Stock Additional Retained Earnings Total Shareholders’ Equity (In Thousands) Shares Amount Shares Amount Balance, December 31, 2022 (34,044) $ (963,627) 82,079 $ 41,039 $ 338,814 $ 1,154,235 $ 570,461 Stock-Based Compensation — — — — 5,460 — 5,460 Reissued Shares 166 4,778 — — (7,171) — (2,393) Repurchased Shares (1,459) (36,769) — — — — (36,769) Net Earnings — — — — — 48,033 48,033 Balance, March 31, 2023 (35,337) $ (995,618) 82,079 $ 41,039 $ 337,103 $ 1,202,268 $ 584,792

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes financial liabilities measured at fair value on a recurring basis: (In Thousands) March 31, 2024 December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Deferred Compensation Liability $ — $ 2,520 $ — $ — $ 2,487 $ —
Schedule of Assets Measured at Fair Value on Nonrecurring Basis	The following table summarizes the fair value of the Company's debt and the loans receivable held by Vive and Four: (In Thousands) March 31, 2024 December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Senior Notes $ — $ 559,380 $ — $ — $ 559,500 $ — Loans Receivable, Net $ — $ — $ 142,690 $ — $ — $ 148,466

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of the Components of Loans Receivable, Net	The following is a summary of the Company’s loans receivable, net: (In Thousands) March 31, 2024 December 31, 2023 Loans Receivable, Gross $ 165,612 $ 176,845 Unamortized Fees (8,687) (9,402) Loans Receivable, Amortized Cost 156,925 167,443 Allowance for Loan Losses (38,997) (40,620) Loans Receivable, Net of Allowances and Unamortized Fees 1 $ 117,928 $ 126,823 1 Loans Receivable, Net of Allowances and Unamortized Fees, attributable to Four was $10.3 million and $13.9 million as of March 31, 2024 and December 31, 2023, respectively.
Schedule of Loan Portfolio Credit Quality Indicators	Below is a summary of the credit quality of the Company's loan portfolio as of March 31, 2024 and December 31, 2023 by FICO score as determined at the time of loan origination: FICO Score Category March 31, 2024 December 31, 2023 600 or Less 6.6 % 6.5 % Between 600 and 700 72.6 % 73.5 % 700 or Greater 11.4 % 11.2 % No Score Identified 9.4 % 8.8 % The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year: As of March 31, 2024 (In Thousands) 2024 2023 2022 and Prior Revolving Loans Total FICO Score Category: 600 or Less $ — $ — $ — $ 10,530 $ 10,530 Between 600 and 700 — — — 114,187 114,187 700 or Greater — — — 17,280 17,280 No Score Identified 13,759 1,169 — — 14,928 Total Amortized Cost $ 13,759 $ 1,169 $ — $ 141,997 $ 156,925 Gross Charge-offs by Origination Year for the Three Months Ended March 31, 2024 $ 689 $ 1,935 $ — $ 11,799 $ 14,423
Schedule of Aging of the Loans Receivable Balance	Included in the table below is an aging of the loans receivable, gross balance: (Dollar Amounts in Thousands) Aging Category March 31, 2024 December 31, 2023 30-59 Days Past Due 5.6 % 7.3 % 60-89 Days Past Due 3.4 % 3.8 % 90 or More Days Past Due 5.5 % 5.4 % Past Due Loans Receivable 14.5 % 16.5 % Current Loans Receivable 85.5 % 83.5 % Balance of Credit Card Loans on Nonaccrual Status $ 4,359 $ 4,482 Balance of Loans Receivable Greater than 90 Days Past Due and Still Accruing Interest and Fees $ — $ —
Schedule of Allowance for Loan Losses	The table below presents the components of the allowance for loan losses: Three Months Ended March 31, (In Thousands) 2024 2023 Beginning Balance $ 40,620 $ 42,428 Provision for Loan Losses 11,049 8,714 Charge-offs (14,423) (12,737) Recoveries 1,751 1,376 Ending Balance $ 38,997 $ 39,781

RESTRUCTURING EXPENSES (Tables)

RESTRUCTURING EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following tables summarize restructuring charges recorded within operating expenses in the condensed consolidated statements of earnings for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 (In Thousands) Progressive Leasing Vive Other Total Severance $ 4,106 $ — $ — $ 4,106 Right-of-Use Asset Impairment 1 4,515 — — 4,515 Property and Equipment Impairment 1,503 — — 1,503 Early Contract Termination Costs 7,750 — — 7,750 Other Restructuring Activities 140 — — 140 Total Restructuring Expenses $ 18,014 $ — $ — $ 18,014 1 To determine the amount of impairment for vacated office space, the fair value of the ROU asset is calculated based on the present value of the estimated net cash flows related to asset. Three Months Ended March 31, 2023 (In Thousands) Progressive Leasing Vive Other Total Severance $ 793 $ — $ — $ 793 Other Restructuring Activities (36) — — (36) Total Restructuring Expenses $ 757 $ — $ — $ 757
Schedule of Restructuring Reserve	The following table summarizes the accrual and payment activity related to the restructuring program for the three months ended March 31, 2024 and 2023: (In Thousands) Severance Early Contract Termination Costs Other Restructuring Activities Total Balance at December 31, 2023 $ 2,675 $ 2,500 $ — $ 5,175 Charges 4,106 7,750 140 11,996 Cash Payments (4,608) (10,250) (110) (14,968) Balance at March 31, 2024 $ 2,173 $ — $ 30 $ 2,203 (In Thousands) Severance Other Restructuring Activities Total Balance at December 31, 2022 $ 3,061 $ 42 $ 3,103 Charges 793 (36) 757 Cash Payments (601) (4) (605) Balance at March 31, 2023 $ 3,253 $ 2 $ 3,255

SEGMENTS (Tables)

SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Information on Segments and Reconciliation to Earnings Before Income Taxes from Continuing Operations	The following table presents revenue by source and by segment for the three months ended March 31, 2024: Three Months Ended March 31, 2024 (In Thousands) Progressive Leasing Vive Other Total Lease Revenues and Fees 1 $ 620,550 $ — $ — $ 620,550 Interest and Fees on Loans Receivable 2 — 16,051 5,269 21,320 Total $ 620,550 $ 16,051 $ 5,269 $ 641,870 1 Revenue within the scope of ASC 842, Leases . 2 Revenue within the scope of ASC 310, Receivables . Also included within Interest and Fees on Loans Receivable is $1.4 million of subscription fee and interchange revenue within the scope of ASC 606, Revenue from Contracts with Customers . The following table presents revenue by source and by segment for the three months ended March 31, 2023: Three Months Ended March 31, 2023 (In Thousands) Progressive Leasing Vive Other Total Lease Revenues and Fees 1 $ 637,082 $ — $ — $ 637,082 Interest and Fees on Loans Receivable 2 — 17,153 905 18,058 Total $ 637,082 $ 17,153 $ 905 $ 655,140 1 Revenue within the scope of ASC 842, Leases . 2 Revenue within the scope of ASC 310, Receivables . Three Months Ended March 31, (In Thousands) 2024 2023 Earnings Before Income Tax Expense: Progressive Leasing $ 35,453 $ 71,051 Vive 918 2,163 Other (4,804) (5,627) Total Earnings Before Income Tax Expense $ 31,567 $ 67,587 The following is a summary of total assets by segment: (In Thousands) March 31, 2024 December 31, 2023 Assets: Progressive Leasing $ 1,276,123 $ 1,286,587 Vive 136,521 141,028 Other 49,022 63,640 Total Assets $ 1,461,666 $ 1,491,255 The following table presents additional segment profit or loss information for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (In Thousands) 2024 2023 Depreciation and Amortization: Progressive Leasing $ 7,231 $ 7,326 Vive 166 168 Other 621 485 Total Depreciation and Amortization 1 $ 8,018 $ 7,979 Depreciation of Lease Merchandise: Progressive Leasing $ 431,571 $ 435,439 Vive — — Other — — Total Depreciation of Lease Merchandise $ 431,571 $ 435,439 Interest Expense, Net: Interest Expense: Progressive Leasing $ 9,993 $ 9,407 Vive — 291 Other — — Intercompany Elimination (317) — Interest Income: Progressive Leasing $ (1,426) $ (1,207) Vive — — Other (317) — Intercompany Elimination 317 — Total Interest Expense, Net $ 8,250 $ 8,491 Capital Expenditures 2 : Progressive Leasing $ 1,405 $ 1,006 Vive 68 103 Other 623 569 Total Capital Expenditures $ 2,096 $ 1,678 1 Excludes depreciation of lease merchandise, which is not included in the chief operating decision maker's measure of depreciation and amortization. 2 Capital expenditures primarily consists of internal-use software, as well as computer hardware and furniture and equipment.

BASIS AND SUMMARY OF SIGNIFIC_4

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) shares in Thousands		3 Months Ended
	Oct. 01, 2023 USD ($)	Mar. 31, 2024 USD ($) segment installment shares	Mar. 31, 2023 shares	Dec. 31, 2023 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments | segment		2
Anti-dilutive securities excluded from the computation of earnings per share assuming dilution (in shares) | shares		797,000	1,209,000
Accounts receivable, after allowance for credit loss		$ 62,043,000		$ 67,879,000
Goodwill		$ 296,061,000		296,061,000
Impairment of indefinite-lived intangibles	$ 0
Four Technologies, Inc.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of interest-free Installments | installment		4
Progressive Leasing
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable, after allowance for credit loss		$ 62,000,000		$ 67,900,000
Lease merchandise salvage value percentage		0%
Lease agreement, lease period used as asset useful life		12 months
Agreement One | Progressive Finance Holdings, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease agreement period		12 months

BASIS AND SUMMARY OF SIGNIFIC_5

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Calculation of Dilutive Stock Awards (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounting Policies [Abstract]
Weighted average shares outstanding (in shares)	43,695	47,854
Dilutive effect of share-based awards (in shares)	833	285
Weighted average shares outstanding assuming dilution (in shares)	44,528	48,139

BASIS AND SUMMARY OF SIGNIFIC_6

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Interest and Fees on Loans Receivable (Details)	3 Months Ended
	Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit terms, merchant fee, percentage, promotional interest period one (in months)	6 months
Credit terms, merchant fee, percentage, promotional interest period two (in months)	12 months
Credit terms, merchant fee, percentage, promotional interest period three (in months)	18 months
Credit Card Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit terms, privilege period	24 months
Credit terms, minimum payment required, percentage of outstanding loan balance	3.50%
Credit Card Loans | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant fee (percentage)	3%
Financing receivable promotional fees percent	1%
Credit terms, interest rate, fixed and variable (percentage)	27%
Credit Card Loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant fee (percentage)	25%
Financing receivable promotional fees percent	8%
Credit terms, interest rate, fixed and variable (percentage)	35.99%

BASIS AND SUMMARY OF SIGNIFIC_7

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 64,180	$ 69,264
Net Book Value of Accounts Written Off	(85,287)	(86,064)
Recoveries	11,023	12,019
Accounts Receivable Provision	74,356	69,951
Ending Balance	$ 64,272	$ 65,170

BASIS AND SUMMARY OF SIGNIFIC_8

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Lease Merchandise (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Components of the allowance of leases merchandise write-offs:
Beginning Balance	$ 44,180	$ 47,118
Net Book Value of Merchandise Written off	(40,737)	(39,432)
Recoveries	1,666	1,895
Provision for Write-offs	43,141	38,364
Ending Balance	$ 48,250	$ 47,945
Progressive Leasing
Significant Accounting Policies [Line Items]
Lease merchandise salvage value percentage	0%
Lease agreement, lease period used as asset useful life	12 months

BASIS AND SUMMARY OF SIGNIFIC_9

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Vendor Incentives and Rebates Provided to POS Partners (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
POS Partners
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Marketing expense	$ 8.8	$ 6.8

BASIS AND SUMMARY OF SIGNIFI_10

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loans Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, net	$ 117,928	$ 126,823
Four Technologies, Inc.
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, net	$ 10,300	$ 13,900

BASIS AND SUMMARY OF SIGNIFI_11

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Credit Quality Indicators (Details)	Mar. 31, 2024	Dec. 31, 2023
600 or Less
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of loan portfolio per FICO score	6.60%	6.50%
Between 600 and 700
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of loan portfolio per FICO score	72.60%	73.50%
700 or Greater
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of loan portfolio per FICO score	11.40%	11.20%
No Score Identified
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of loan portfolio per FICO score	9.40%	8.80%

BASIS AND SUMMARY OF SIGNIFI_12

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Prepaid Expenses	$ 16,923	$ 17,768
Prepaid Lease Merchandise	7,965	9,944
Prepaid Software Expenses	11,174	8,624
Unamortized Initial Direct Costs on Lease Agreement Originations	5,544	7,192
Other Assets	7,368	7,183
Prepaid Expenses and Other Assets	$ 48,974	$ 50,711

BASIS AND SUMMARY OF SIGNIFI_13

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Accounts Payable		$ 17,054	$ 20,237
Accrued Salaries and Benefits		18,020	27,256
Accrued Sales and Personal Property Taxes		13,325	11,684
Income Taxes Payable		903	1,153
Uncertain tax positions		56,011	54,995
Accrued Vendor Rebates		3,968	11,446
Other Accrued Expenses and Liabilities		30,562	24,488
Accounts Payable and Accrued Expenses		$ 139,843	$ 151,259
FTC Inquiry
Income Tax Contingency [Line Items]
Payments for legal settlements	$ 175,000

BASIS AND SUMMARY OF SIGNIFI_14

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Debt (Details)	Nov. 26, 2021 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2022	Nov. 24, 2020 USD ($)
Debt Instrument [Line Items]
Available credit facility		$ 350,000,000	$ 350,000,000
Common Stock
Debt Instrument [Line Items]
Tender offer shares repurchased and retired value	$ 425,000,000
Unsecured Debt | Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Aggregate principal amount	$ 600,000,000
Secured Debt | Senior Unsecured Notes 6.000% Due 2029
Debt Instrument [Line Items]
Debt interest rate (percentage)	6%
Secured Debt | Senior Unsecured Notes 6.000% Due 2029 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage (percentage)	100%
Revolving Credit Facility | Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					$ 350,000,000
Total net debt to EBITDA		1.25		1.25
Long-term line of credit		$ 0	$ 0

BASIS AND SUMMARY OF SIGNIFI_15

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance - treasury (in shares)	(38,404,527)
Beginning balance	$ 591,331	$ 570,461
Cash Dividends, $0.12 per share	(5,337)
Stock-Based Compensation	6,689	5,460
Reissued Shares	(5,069)	(2,393)
Repurchased Shares	(24,490)	(36,769)
Net Earnings	$ 21,966	48,033
Ending balance - treasury (in shares)	(38,904,934)
Ending balance	$ 585,090	$ 584,792
Cash dividends per share (in dollars per share)	$ 0.12	$ 0
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance - treasury (in shares)	(38,405,000)	(34,044,000)
Beginning balance	$ (1,095,202)	$ (963,627)
Reissued shares (in shares)	281,000	166,000
Reissued Shares	$ 7,391	$ 4,778
Repurchased shares (in shares)	(781,000)	(1,459,000)
Repurchased Shares	$ (24,490)	$ (36,769)
Ending balance - treasury (in shares)	(38,905,000)	(35,337,000)
Ending balance	$ (1,112,301)	$ (995,618)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 41,039	$ 41,039
Beginning balance - common (in shares)	82,079,000	82,079,000
Ending balance	$ 41,039	$ 41,039
Ending balance - common (in shares)	82,079,000	82,079,000
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 352,421	$ 338,814
Stock-Based Compensation	6,689	5,460
Reissued Shares	(12,460)	(7,171)
Ending balance	346,650	337,103
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,293,073	1,154,235
Cash Dividends, $0.12 per share	(5,337)
Net Earnings	21,966	48,033
Ending balance	$ 1,309,702	$ 1,202,268

BASIS AND SUMMARY OF SIGNIFI_16

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock-based Compensation (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period | shares	547,706
Weighted average fair value price per share (in dollars per share) | $ / shares	$ 29.41
Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	1 year
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period | shares	270,336
Weighted average fair value price per share (in dollars per share) | $ / shares	$ 29.41
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
TSR Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period | shares	125,452
Award vesting period	3 years
Weighted average fair value price per share (in dollars per share) | $ / shares	$ 40.23
TSR Performance Share Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	1 year
TSR Performance Share Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	3 years

BASIS AND SUMMARY OF SIGNIFI_17

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cybersecurity Incident (Details) - USD ($) $ in Millions	3 Months Ended	7 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Unusual or Infrequent Item, or Both [Line Items]
Loss contingency accrual	$ 0.2	$ 0.2	$ 1.2
Cybersecurity Incident
Unusual or Infrequent Item, or Both [Line Items]
Amounts incurred for actual and anticipated costs	0.1	2.9
Loss contingency accrual	$ 0.4	$ 0.4

FAIR VALUE MEASUREMENT - Schedu

FAIR VALUE MEASUREMENT - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Liability	$ 0	$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Liability	2,520	2,487
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Liability	$ 0	$ 0

FAIR VALUE MEASUREMENT - Narrat

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

FAIR VALUE MEASUREMENT - Sche_2

FAIR VALUE MEASUREMENT - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 0	$ 0
Loans Receivable, Net	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	559,380	559,500
Loans Receivable, Net	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	0	0
Loans Receivable, Net	$ 142,690	$ 148,466

LOANS RECEIVABLE - Schedule of

LOANS RECEIVABLE - Schedule of the Components of Loans Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans Receivable, Gross	$ 165,612	$ 176,845
Unamortized Fees	(8,687)	(9,402)
Loans Receivable, Amortized Cost	156,925	167,443
Allowance for Loan Losses	(38,997)	(40,620)	$ (39,781)	$ (42,428)
Loans receivable, net of allowances and unamortized fees	117,928	126,823
Four Technologies, Inc.
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, net of allowances and unamortized fees	$ 10,300	$ 13,900

LOANS RECEIVABLE - Schedule o_2

LOANS RECEIVABLE - Schedule of Loan Portfolio Credit Quality Indicators (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 13,759
2023	1,169
2022 and Prior	0
Revolving Loans	141,997
Loans Receivable, Amortized Cost	156,925		$ 167,443
2024	689
2023	1,935
2022 and Prior	0
Revolving Loans	11,799
Notes receivable gross charge-off	14,423	$ 12,737
600 or Less
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022 and Prior	0
Revolving Loans	10,530
Loans Receivable, Amortized Cost	10,530
Between 600 and 700
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022 and Prior	0
Revolving Loans	114,187
Loans Receivable, Amortized Cost	114,187
700 or Greater
Financing Receivable, Credit Quality Indicator [Line Items]
2024	0
2023	0
2022 and Prior	0
Revolving Loans	17,280
Loans Receivable, Amortized Cost	17,280
No Score Identified
Financing Receivable, Credit Quality Indicator [Line Items]
2024	13,759
2023	1,169
2022 and Prior	0
Revolving Loans	0
Loans Receivable, Amortized Cost	$ 14,928

LOANS RECEIVABLE - Schedule o_3

LOANS RECEIVABLE - Schedule of Aging of the Loans Receivable Balance (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	14.50%	16.50%
Current Loans Receivable	85.50%	83.50%
Balance of Credit Card Loans on Nonaccrual Status	$ 4,359	$ 4,482
Balance of Loans Receivable Greater than 90 Days Past Due and Still Accruing Interest and Fees	$ 0	$ 0
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	5.60%	7.30%
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	3.40%	3.80%
90 or More Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	5.50%	5.40%

LOANS RECEIVABLE - Schedule o_4

LOANS RECEIVABLE - Schedule of Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 40,620	$ 42,428
Provision for Loan Losses	11,049	8,714
Charge-offs	(14,423)	(12,737)
Recoveries	1,751	1,376
Ending Balance	$ 38,997	$ 39,781

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	Jan. 26, 2024	Mar. 31, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Loss contingency accrual		$ 0.2	$ 1.2
Cybersecurity Insurance
Other Commitments [Line Items]
Retainage deposit		1
Unused Credit Card Lines
Other Commitments [Line Items]
Remaining credit available		$ 527.4	$ 523.9
Pennsylvania Attorney General Complaint
Other Commitments [Line Items]
Litigation settlement, amount awarded to other party	$ 1
Payments for legal settlements	$ 1

RESTRUCTURING EXPENSES - Narrat

RESTRUCTURING EXPENSES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		27 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Total Restructuring Expenses	$ 18,014	$ 757	$ 39,500

RESTRUCTURING EXPENSES - Schedu

RESTRUCTURING EXPENSES - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		27 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	$ 18,014	$ 757	$ 39,500
Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	18,014	757
Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0
Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0
Severance
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	4,106	793
Severance | Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	4,106	793
Severance | Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0
Severance | Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0
Right-of-Use Asset Impairment
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	4,515
Right-of-Use Asset Impairment | Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	4,515
Right-of-Use Asset Impairment | Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0
Right-of-Use Asset Impairment | Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0
Property and Equipment Impairment
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	1,503
Property and Equipment Impairment | Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	1,503
Property and Equipment Impairment | Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0
Property and Equipment Impairment | Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0
Early Contract Termination Costs
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	7,750
Early Contract Termination Costs | Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	7,750
Early Contract Termination Costs | Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0
Early Contract Termination Costs | Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0
Other Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	140	(36)
Other Restructuring Activities | Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	140	(36)
Other Restructuring Activities | Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0
Other Restructuring Activities | Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	$ 0	$ 0

RESTRUCTURING EXPENSES - Sche_2

RESTRUCTURING EXPENSES - Schedule of Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 5,175	$ 3,103
Charges	11,996	757
Cash Payments	(14,968)	(605)
Restructuring reserve, ending balance	2,203	3,255
Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	2,675	3,061
Charges	4,106	793
Cash Payments	(4,608)	(601)
Restructuring reserve, ending balance	2,173	3,253
Early Contract Termination Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	2,500
Charges	7,750
Cash Payments	(10,250)
Restructuring reserve, ending balance	0
Other Restructuring Activities
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0	42
Charges	140	(36)
Cash Payments	(110)	(4)
Restructuring reserve, ending balance	$ 30	$ 2

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) segment installment	Mar. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Charges	$ 11,996	$ 757
Progressive Leasing Segment | Operating Segments
Segment Reporting Information [Line Items]
Charges	$ 18,000
Four Technologies, Inc.
Segment Reporting Information [Line Items]
Number of interest-free Installments | installment	4

SEGMENTS - Schedule of Disaggre

SEGMENTS - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenues	$ 641,870	$ 655,140
Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	620,550	637,082
Interest and Fees on Loans Receivable
Segment Reporting Information [Line Items]
Revenues	21,320	18,058
Operating Segments | Progressive Leasing
Segment Reporting Information [Line Items]
Revenues	620,550	637,082
Operating Segments | Progressive Leasing | Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	620,550	637,082
Operating Segments | Progressive Leasing | Interest and Fees on Loans Receivable
Segment Reporting Information [Line Items]
Revenues	0	0
Subscription fee and interchange revenue within scope of ASC 606	1,400
Operating Segments | Vive
Segment Reporting Information [Line Items]
Revenues	16,051	17,153
Operating Segments | Vive | Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	0	0
Operating Segments | Vive | Interest and Fees on Loans Receivable
Segment Reporting Information [Line Items]
Revenues	16,051	17,153
Other
Segment Reporting Information [Line Items]
Revenues	5,269	905
Other | Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	0	0
Other | Interest and Fees on Loans Receivable
Segment Reporting Information [Line Items]
Revenues	$ 5,269	$ 905

SEGMENTS - Schedule of Informat

SEGMENTS - Schedule of Information on Segments and Reconciliation to Earnings Before Income Taxes from Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total Earnings Before Income Tax Expense	$ 31,567	$ 67,587
Total Assets	1,461,666		$ 1,491,255
Depreciation of Lease Merchandise:	431,571	435,439
Total Interest Expense, Net	8,250	8,491
Operating Segments
Segment Reporting Information [Line Items]
Depreciation and Amortization:	8,018	7,979
Depreciation of Lease Merchandise:	431,571	435,439
Total Interest Expense, Net	8,250	8,491
Capital Expenditures	2,096	1,678
Operating Segments | Progressive Leasing Segment
Segment Reporting Information [Line Items]
Total Earnings Before Income Tax Expense	35,453	71,051
Total Assets	1,276,123		1,286,587
Depreciation and Amortization:	7,231	7,326
Depreciation of Lease Merchandise:	431,571	435,439
Interest Expense	9,993	9,407
Interest Income	(1,426)	(1,207)
Capital Expenditures	1,405	1,006
Operating Segments | Vive
Segment Reporting Information [Line Items]
Total Earnings Before Income Tax Expense	918	2,163
Total Assets	136,521		141,028
Depreciation and Amortization:	166	168
Depreciation of Lease Merchandise:	0	0
Interest Expense	0	291
Interest Income	0	0
Capital Expenditures	68	103
Other
Segment Reporting Information [Line Items]
Total Earnings Before Income Tax Expense	(4,804)	(5,627)
Total Assets	49,022		$ 63,640
Depreciation and Amortization:	621	485
Depreciation of Lease Merchandise:	0	0
Interest Expense	0	0
Interest Income	(317)	0
Capital Expenditures	623	569
Intercompany Elimination
Segment Reporting Information [Line Items]
Interest Expense	(317)	0
Interest Income	$ 317	$ 0