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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Apr. 30, 2018	May 31, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	CONNS INC
Entity Central Index Key	0001223389
Current Fiscal Year End Date	--01-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 30, 2018
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		31,587,635

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018
Current assets:
Cash and cash equivalents	$ 6,190	$ 9,286
Restricted cash (includes VIE balance of $75,174 and $85,322, respectively)	76,724	86,872
Customer accounts receivable, net of allowances (includes VIE balance of $391,853 and $459,708, respectively)	618,160	636,825
Other accounts receivable	73,543	71,186
Inventories	190,312	211,894
Income taxes receivable	620	32,362
Prepaid expenses and other current assets	15,664	31,592
Total current assets	981,213	1,080,017
Long-term portion of customer accounts receivable, net of allowances (includes VIE balance of $329,039 and $455,002, respectively)	635,508	650,608
Property and equipment, net	141,314	143,152
Deferred income taxes	22,052	21,565
Other assets	4,662	5,457
Total assets	1,784,749	1,900,799
Current liabilities:
Current maturities of long-term debt and capital lease obligations (includes VIE balance of $22,085 and $0, respectively)	23,180	907
Accounts payable	82,362	71,617
Accrued compensation and related expenses	11,215	21,366
Accrued expenses	46,104	44,807
Income taxes payable	9,752	2,939
Deferred revenues and other credits	21,361	22,475
Total current liabilities	193,974	164,111
Deferred rent	85,729	87,003
Long-term debt and capital lease obligations (includes VIE balance of $556,972 and $787,979, respectively)	929,535	1,090,105
Other long-term liabilities	25,856	24,512
Total liabilities	1,235,094	1,365,731
Commitments and Contingencies
Stockholders' equity:
Preferred stock ($0.01 par value, 1,000,000 shares authorized; none issued or outstanding)	0	0
Common stock ($0.01 par value, 100,000,000 shares authorized; 31,586,827 and 31,435,775 shares issued, respectively)	316	314
Additional paid-in capital	101,983	101,087
Retained earnings	447,356	433,667
Total stockholders' equity	549,655	535,068
Total liabilities and stockholders' equity	$ 1,784,749	$ 1,900,799

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018
Restricted cash, VIE balance	$ 76,724	$ 86,872
Customer accounts receivable, VIE balance	618,160	636,825
Long-term portion of customer accounts receivable, VIE balance	635,508	650,608
Current maturities of long-term debt and capital lease obligations, VIE balance	23,180	907
Long-term debt and capital lease obligations, VIE balance	$ 929,535	$ 1,090,105
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	31,586,827	31,435,775
Variable Interest Entity [Member]
Restricted cash, VIE balance	$ 75,174	$ 85,322
Customer accounts receivable, VIE balance	391,853	459,708
Long-term portion of customer accounts receivable, VIE balance	329,039	455,002
Current maturities of long-term debt and capital lease obligations, VIE balance	22,085	0
Long-term debt and capital lease obligations, VIE balance	$ 556,972	$ 787,979

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Revenues:
Product sales	$ 249,314	$ 251,362
Repair service agreement commissions	22,863	24,696
Service revenues	3,579	3,227
Total net sales	275,756	279,285
Finance charges and other revenues	82,631	76,541
Total revenues	358,387	355,826
Costs and expenses:
Cost of goods sold	166,589	171,950
Selling, general and administrative expense	114,878	106,537
Provision for bad debts	44,156	55,930
Charges and credits	0	1,227
Total costs and expenses	325,623	335,644
Operating income	32,764	20,182
Interest expense	16,820	24,008
Loss on extinguishment of debt	406	349
Income (loss) before income taxes	15,538	(4,175)
Provision (benefit) for income taxes	2,806	(1,595)
Net income (loss)	$ 12,732	$ (2,580)
Income (loss) per share:
Basic (in dollars per share)	$ 0.40	$ (0.08)
Diluted (in dollars per share)	$ 0.39	$ (0.08)
Weighted average common shares outstanding:
Basic (in shares)	31,540,684	30,972,312
Diluted (in shares)	32,452,864	30,972,312

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ 12,732	$ (2,580)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation	7,660	7,631
Amortization of debt issuance costs	3,292	5,614
Provision for bad debts and uncollectible interest	55,660	65,748
Stock-based compensation expense	2,520	1,583
Charges, net of credits, for store and facility closures and relocations	0	323
Deferred income tax (benefit) expense	(742)	114
Gain on sale/disposal of property and equipment	(204)	(235)
Tenant improvement allowances received from landlords	2,130	1,893
Change in operating assets and liabilities:
Customer accounts receivable	(21,635)	6,943
Other accounts receivables	(883)	6,296
Inventories	21,582	(6,143)
Other assets	15,928	(2,105)
Accounts payable	11,055	3,428
Accrued expenses	(9,081)	2,586
Income taxes	38,556	(1,180)
Deferred rent, revenues and other credits	(3,231)	848
Net cash provided by operating activities	135,339	90,764
Cash flows from investing activities:
Purchase of property and equipment	(6,169)	(4,286)
Net cash used in investing activities	(6,169)	(4,286)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	0	469,814
Payments on asset-backed notes	(232,584)	(232,931)
Borrowings from revolving credit facility	393,158	265,935
Payments on revolving credit facility	(322,608)	(443,435)
Borrowings from warehouse facility	52,226	0
Payments on warehouse facility	(29,905)	0
Payments of debt issuance costs and amendment fees	(533)	(7,605)
Proceeds from stock issued under employee benefit plans	267	256
Tax payments associated with equity-based compensation transactions	(1,888)	0
Payments from extinguishment of debt	(294)	0
Other	(253)	84
Net cash (used in) provided by financing activities	(142,414)	52,118
Net change in cash, cash equivalents and restricted cash	(13,244)	138,596
Cash, cash equivalents and restricted cash, beginning of period	96,158	134,264
Cash, cash equivalents and restricted cash, end of period	82,914	272,860
Non-cash investing and financing activities:
Capital lease asset additions and related obligations	0	3,196
Property and equipment purchases not yet paid	1,759	732
Supplemental cash flow data:
Cash interest paid	8,838	17,804
Cash income taxes refunded, net	$ 35,007	$ 529

Summary of Significant Accounting Policies

3 Months Ended

Apr. 30, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Business. Conn's, Inc., a Delaware corporation, is a holding company with no independent assets or operations other than its investments in its subsidiaries. References to “we,” “our,” “us,” “the Company,” “Conn’s” or “CONN” refer to Conn’s, Inc. and, as apparent from the context, its consolidated bankruptcy-remote variable interest entities (“VIEs”) and its wholly owned subsidiaries. Conn's is a leading specialty retailer that offers a broad selection of quality, branded durable consumer goods and related services in addition to proprietary credit solutions for its core credit-constrained consumers. We operate an integrated and scalable business through our retail stores and website. Our complementary product offerings include furniture and mattresses, home appliances, consumer electronics and home office products from leading global brands across a wide range of price points. Our credit offering provides financing solutions to a large, under-served population of credit-constrained consumers who typically have limited credit alternatives.

We operate two reportable segments: retail and credit. Our retail stores bear the "Conn's HomePlus" name with all of our stores providing the same products and services to a common customer group. Our stores follow the same procedures and methods in managing their operations. Our retail business and credit business are operated independently from each other. The credit segment is dedicated to providing short- and medium-term financing to our retail customers. The retail segment is not involved in credit approval decisions. Our management evaluates performance and allocates resources based on the operating results of the retail and credit segments.

Basis of Presentation. The accompanying unaudited, condensed consolidated financial statements of Conn's, Inc. and its wholly-owned subsidiaries, including the VIEs, have been prepared by management in accordance with U.S. generally accepted accounting principles ("GAAP") and prevailing industry practice for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at January 31, 2018 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2018 (the “2018 Form 10-K”), filed with the United States Securities and Exchange Commission (the “SEC”) on April 5, 2018.

Fiscal Year. Our fiscal year ends on January 31. References to a fiscal year refer to the calendar year in which the fiscal year ends.

Principles of Consolidation. The consolidated financial statements include the accounts of Conn's, Inc. and its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation.

Variable Interest Entities. VIEs are consolidated if the Company is the primary beneficiary. The primary beneficiary of a VIE is the party that has (i) the power to direct the activities that most significantly impact the performance of the VIE and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.

We securitize customer accounts receivables by transferring the receivables to various bankruptcy-remote VIEs. We retain the servicing of the securitized portfolio and have a variable interest in each corresponding VIE by holding the residual equity. We have determined that we are the primary beneficiary of each respective VIE because (i) our servicing responsibilities for the securitized portfolio give us the power to direct the activities that most significantly impact the performance of the VIE and (ii) our variable interest in the VIE gives us the obligation to absorb losses and the right to receive residual returns that potentially could be significant. As a result, we consolidate the respective VIEs within our consolidated financial statements.

Refer to Note 5, Debt and Capital Lease Obligations, and Note 7, Variable Interest Entities, for additional information.

Use of Estimates. The preparation of financial statements in accordance with GAAP requires management to make informed judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ, even significantly, from these estimates. Management evaluates its estimates and related assumptions regularly, including those related to the allowance for doubtful accounts and allowances for no-interest option credit programs, which are particularly sensitive given the size of our customer portfolio balance.

Cash and Cash Equivalents. Cash and cash equivalents include cash, credit card deposits in-transit, and highly liquid debt instruments purchased with a maturity of three months or less. Cash and cash equivalents include credit card deposits in-transit of $3.8 million and $2.0 million as of April 30, 2018 and January 31, 2018, respectively.

Restricted Cash. The restricted cash balance as of April 30, 2018 and January 31, 2018 includes $56.7 million and $58.1 million, respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $18.5 million and $27.2 million, respectively, of cash held by the VIEs as additional collateral for the asset-backed notes.

Customer Accounts Receivable. Customer accounts receivable reported in the Condensed Consolidated Balance Sheet includes total receivables managed, including both those transferred to the VIEs and those not transferred to the VIEs. Customer accounts receivable are recognized at the time the customer takes possession of the product. Based on contractual terms, we record the amount of principal and accrued interest on customer receivables that is expected to be collected within the next twelve months in current assets with the remaining balance in long-term assets on the Condensed Consolidated Balance Sheet. Customer accounts receivable includes the net of unamortized deferred fees charged to customers and origination costs. Customer receivables are considered delinquent if a payment has not been received on the scheduled due date. Accounts that are delinquent more than 209 days as of the end of a month are charged-off against the allowance for doubtful accounts along with interest accrued subsequent to the last payment.

In an effort to mitigate losses on our accounts receivable, we may make loan modifications to a borrower experiencing financial difficulty. In our role as servicer, we may also make modifications to loans held by the VIEs. The loan modifications are intended to maximize net cash flow after expenses and avoid the need to repossess collateral or exercise legal remedies available to us. We may extend or "re-age" a portion of our customer accounts, which involves modifying the payment terms to defer a portion of the cash payments due. Our re-aging of customer accounts does not change the interest rate or the total principal amount due from the customer and typically does not reduce the monthly contractual payments. To a much lesser extent, we may provide the customer the ability to re-age their obligation by refinancing the account, which does not change the interest rate or the total principal amount due from the customer but does reduce the monthly contractual payments and extend the term. We consider accounts that have been re-aged in excess of three months or refinanced as Troubled Debt Restructurings ("TDR" or "Restructured Accounts").

Interest Income on Customer Accounts Receivable. Interest income, which includes interest income and amortization of deferred fees and origination costs, is recorded using the interest method and is reflected in finance charges and other revenues. Typically, interest income is recorded until the customer account is paid off or charged-off, and we provide an allowance for estimated uncollectible interest. Any contractual interest income received from customers in excess of the interest income calculated using the interest method is recorded as deferred revenue on our balance sheets. At April 30, 2018 and January 31, 2018, there was $12.5 million and $12.5 million, respectively, of deferred interest included in deferred revenues and other credits and other long-term liabilities. The deferred interest will ultimately be brought into income as the accounts pay off or charge-off.

We offer a 12 month no-interest option program. If the customer is delinquent in making a scheduled monthly payment or does not repay the principal in full by the end of the no-interest option program period (grace periods are provided), the account does not qualify for the no-interest provision and none of the interest earned is waived. Interest income is recognized based on estimated accrued interest earned to date on all no-interest option finance programs with an offsetting reserve for those customers expected to satisfy the requirements of the program based on our historical experience.

We recognize interest income on TDR accounts using the interest income method, which requires reporting interest income equal to the increase in the net carrying amount of the loan attributable to the passage of time. Cash proceeds and other adjustments are applied to the net carrying amount such that it equals the present value of expected future cash flows.

We typically only place accounts in non-accrual status when legally required. Payments received on non-accrual loans will be applied to principal and reduce the amount of the loan. At April 30, 2018, customer receivables carried in non-accrual status were $15.8 million, of which $12.1 million is in bankruptcy status and less than 60 days past due. At January 31, 2018, customer receivables carried in non-accrual status were $16.9 million, of which $14.5 million is in bankruptcy status and less than 60 days past due. At April 30, 2018 and January 31, 2018, customer receivables that were past due 90 days or more and still accruing interest totaled $111.1 million and $109.7 million, respectively.

Allowance for Doubtful Accounts. The determination of the amount of the allowance for bad debts is, by nature, highly complex and subjective. Future events that are inherently uncertain could result in material changes to the level of the allowance for bad debts. General economic conditions, changes to state or federal regulations and a variety of other factors that affect the ability of borrowers to service their debts or our ability to collect will impact the future performance of the portfolio.

We establish an allowance for doubtful accounts, including estimated uncollectible interest, to cover probable and estimable losses on our customer accounts receivable resulting from the failure of customers to make contractual payments. Our customer portfolio balance consists of a large number of relatively small, homogeneous accounts. None of our accounts are large enough to warrant individual evaluation for impairment.

We record an allowance for doubtful accounts on our non-TDR customer accounts receivable that we expect to charge-off over the next 12 months based on historical gross charge-off rates over the last 24 months. We incorporate an adjustment to historical gross charge-off rates for a scaled factor of the year-over-year change in six month average first payment default rates and the year-over-year change in the balance of customer accounts receivable that are 60 days or more past due. In addition to adjusted historical gross charge-off rates, estimates of post-charge-off recoveries, including cash payments from customers, amounts realized from the repossession of the products financed, sales tax recoveries from taxing jurisdictions, and payments received under credit insurance policies are also considered.

Qualitative adjustments are made to the allowance for bad debts when, based on management’s judgment, there are internal or external factors impacting probable incurred losses not taken into account by the quantitative calculations. These qualitative considerations are based on the following factors: changes in lending policies and procedures, changes in economic and business conditions, changes in the nature and volume of the portfolio, changes in lending management, changes in credit quality statistics, changes in concentrations of credit, and other internal or external factor changes. We utilize an economic qualitative adjustment based on changes in unemployment rates if current unemployment rates in our markets are worse than they were on average over the last 24 months. We also qualitatively limit the impact of changes in first payment default rates and changes in delinquency when those changes result in a decrease to the allowance for bad debts based on a measure of the dispersion of historical charge-off rates.

We determine allowances for those accounts that are TDR based on the discounted present value of cash flows expected to be collected over the life of those accounts based primarily on the performance of TDR loans over the last 24 months. The cash flows are discounted based on the weighted-average effective interest rate of the TDR accounts. The excess of the carrying amount over the discounted cash flow amount is recorded as an allowance for loss on those accounts.

Debt Issuance Costs. Costs that are direct and incremental to debt issuance are deferred and amortized to interest expense using the effective interest method over the expected life of the debt. All other costs related to debt issuance are expensed as incurred. We present debt issuance costs associated with long-term debt as a reduction of the carrying amount of the debt. Unamortized costs related to the revolving credit facility are included in other assets on our Condensed Consolidated Balance Sheet and were $4.4 million and $5.2 million as of April 30, 2018 and January 31, 2018, respectively.

Income Taxes. For the three months ended April 30, 2018 and 2017, we utilized the estimated annual effective tax rate based on our estimated fiscal year 2019 and 2018 pre-tax income, respectively, in determining income tax expense.

Provision for income taxes for interim periods is based on an estimated annual income tax rate, adjusted for discrete tax items. As a result, our interim effective tax rates may vary significantly from the statutory tax rate and the annual effective tax rate.

On December 22, 2017 H.R. 1, originally known as the Tax Cuts and Jobs Act (the “Tax Act”), was signed into law. Among the significant changes to the U.S. Internal Revenue Code, the Tax Act lowered the U.S. federal corporate income tax rate (“Federal Tax Rate”) from 35% to 21% effective January 1, 2018. For the three months ended January 31, 2018, we calculated our best estimate of the impact of the Tax Act in our fiscal year 2018 provision for income taxes in accordance with our understanding of the Tax Act and available guidance as of that date.

We continue to analyze additional information and guidance related to the Tax Act as supplemental legislation, regulatory guidance and evolving technical interpretations become available. We will continue to refine such amounts within the measurement period as provided by Staff Accounting Bulletin No. 118 and expect to complete our analysis no later than the fourth quarter of fiscal year 2019.

For the three months ended April 30, 2018 and 2017, the effective tax rate was 18.1% and 38.2%, respectively. The primary factors affecting our effective tax rate for the three months ended April 30, 2018 were a decrease in the Federal Tax Rate as a result of the Tax Act, an increase in pre-tax earnings, and excess tax benefits related to the vesting of equity compensation.

Stock-based Compensation.

Stock-based compensation expense is recorded, net of estimated forfeitures, for share-based compensation awards over the requisite service period using the straight-line method. An adjustment is made to compensation cost for any difference between the estimated forfeitures and the actual forfeitures related to the awards. For equity-classified share-based compensation awards, expense is recognized based on the grant-date fair value. For stock option grants, we use the Black-Scholes model to determine fair value. For grants of restricted stock units, the fair value of the grant is the market value of our stock at the date of issuance.

The following table sets forth the restricted stock unit awards ("RSUs"), performance stock awards ("PSUs") and stock options granted during the three months ended April 30, 2018 and 2017:



	Three Months Ended April 30,
	2018		2017
RSUs ⁽¹⁾	80,411		324,487
PSUs ⁽²⁾	—		429,000
Stock Options ⁽³⁾	620,166		—
Total stock awards granted	700,577		753,487

Aggregate grant date fair value (in thousands)	$	15,511	$	7,761

(1) The RSUs issued during the three months ended April 30, 2018 and 2017 are scheduled to vest ratably over periods of three to four years from the date of grant.

(2) The PSUs issued during the three months ended April 30, 2017 will vest, if at all, upon the certification, after fiscal year 2020, by the compensation committee of the satisfaction of the annual and cumulative Earnings Before Interest, Taxes, Depreciation and Amortization performance conditions over the three fiscal years commencing with fiscal year 2018.

(3) The weighted-average assumptions for the option awards granted during the three months ended April 30, 2018 included expected volatility of 68.0%, an expected term of 6.5 years and risk-free interest rate of 2.67%. No dividend yield was included in the weighted-average assumptions for the option awards granted during the three months ended April 30, 2018.

For the three months ended April 30, 2018 and 2017, stock-based compensation expense was $2.5 million and $1.6 million, respectively.

Earnings per Share. Basic earnings per share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effects of any stock options and restricted stock units granted, which is calculated using the treasury-stock method. The following table sets forth the shares outstanding for the earnings per share calculations:



	Three Months Ended April 30,
	2018	2017
Weighted-average common shares outstanding - Basic	31,540,684	30,972,312
Dilutive effect of stock options, RSUs and PSUs	912,180	—
Weighted-average common shares outstanding - Diluted	32,452,864	30,972,312

For the three months ended April 30, 2018 and 2017, the weighted-average number of stock options and restricted stock units not included in the calculation due to their anti-dilutive effect was 305,313 and 944,423, respectively.

Fair Value of Financial Instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to subjectivity associated with the inputs to fair value measurements as follows:


•	Level 1 – Inputs represent unadjusted quoted prices in active markets for identical assets or liabilities.

•

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (for example, quoted market prices for similar assets or liabilities in active markets or quoted market prices for identical assets or liabilities in markets not considered to be active, inputs other than quoted prices that are observable for the asset or liability, or market-corroborated inputs).


•	Level 3 – Inputs that are not observable from objective sources such as our internally developed assumptions used in pricing an asset or liability (for example, an estimate of future cash flows used in our internally developed present value of future cash flows model that underlies the fair-value measurement).

In determining fair value, we use observable market data when available, or models that incorporate observable market data. When we are required to measure fair value and there is not a market-observable price for the asset or liability or for a similar asset or liability, we use the cost or income approach depending on the quality of information available to support management’s assumptions. The cost approach is based on management’s best estimate of the current asset replacement cost. The income approach is based on management’s best assumptions regarding expectations of future net cash flows and discounts the expected cash flows using a commensurate risk-adjusted discount rate. Such evaluations involve significant judgment, and the results are based on expected future events or conditions such as sales prices, economic and regulatory climates, and other factors, most of which are often outside of management’s control. However, we believe assumptions used reflect a market participant’s view of long-term prices, costs, and other factors and are consistent with assumptions used in our business plans and investment decisions.

In arriving at fair-value estimates, we use relevant observable inputs available for the valuation technique employed. If a fair-value measurement reflects inputs at multiple levels within the hierarchy, the fair-value measurement is characterized based on the lowest level of input that is significant to the fair-value measurement.

The fair value of cash and cash equivalents, restricted cash and accounts payable approximate their carrying amounts because of the short maturity of these instruments. The fair value of customer accounts receivables, determined using a Level 3 discounted cash flow analysis, approximates their carrying amount, which includes the allowance for doubtful accounts. The fair value of our revolving credit facility approximates carrying value based on the current borrowing rate for similar types of borrowing arrangements. At April 30, 2018, the fair value of the Senior Notes outstanding, which was determined using Level 1 inputs, was $224.8 million as compared to the carrying value of $227.0 million, excluding the impact of the related discount. At April 30, 2018, the fair value of the asset-backed notes approximates their carrying value and was determined using Level 2 inputs based on inactive trading activity.

Recent Accounting Pronouncements Adopted. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which provides a single comprehensive accounting standard for revenue recognition for contracts with customers and supersedes current guidance. Upon adoption of ASU 2014-09, entities are required to recognize revenue using the following comprehensive model: (1) identify contracts with customers, (2) identify the performance obligations in such contracts, (3) determine transaction price, (4) allocate the transaction price to the performance obligations, and (5) recognize revenue as each performance obligation is satisfied. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of Effective Date, which defers the effective date of ASU 2014-09 by one year and allows early adoption on a limited basis. The FASB has also issued ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net); ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing; ASU 2016-11, Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting; and ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients, all of which were issued to improve and clarify the guidance in ASU 2014-09. Effective February 1, 2018, the Company adopted these ASUs using the modified retrospective method applied to those contracts that were not completed as of February 1, 2018, with no restatement of comparative periods. Results for reporting periods beginning after February 1, 2018 are presented under ASC Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historic accounting policies under ASC Topic 605. We recognized a net after-tax cumulative effect adjustment to retained earnings of $1.0 million as of the date of adoption. The details of our current revenue recognition policy, as well as the change due to ASC Topic 606, are described below.

Revenue Recognition. The Company has the following material revenue streams: the sale of products (e.g. appliances, electronics) including delivery; the sale of third party warranty and insurance programs, including retrospective income; service income; interest income generated from the financing of point of sale transactions; and volume rebate incentives received from a third party financer. Interest income related to our customer accounts receivable balance and loan origination costs (including sales commissions) meet the scope exception of ASC 606 and are therefore not impacted by the adoption of this standard. For our twelve month no-interest option program, as a practical expedient acceptable under ASC 606, we do not adjust for the time value of money.

Sale of Products Including Delivery: The Company has a single performance obligation associated with these contracts: the delivery of the product to the customer, at which point control transfers. Revenue for the sale of products is recognized at the time of delivery, net of any adjustments for sales incentives such as discounts, coupons, rebates or other free products or services. Sales financed through third-party no-interest option programs typically require us to pay a fee to the third party on each completed sale, which is recorded as a reduction of net sales in the retail segment.

Sale of Third Party Warranty and Insurance Programs, Including Retrospective Income: We sell repair service agreements ("RSA") and credit insurance contracts on behalf of unrelated third-parties. The Company has a single performance obligation associated with these contracts: the delivery of the product to the customer, at which point control transfers. Commissions related to these contracts are recognized in revenue upon delivery of the product. We defer 5% of the revenue received from the sale of RSAs as compensation to us for the cost to serve as administrator of the RSAs sold as 5% represents the estimated stand-alone sales price to serve as the administrator. The deferred RSA administration fee is recorded in income ratably over the life of the RSA contract sold. Retrospective income on RSA contracts is recognized upon delivery of the product based on an estimate of claims and is adjusted throughout the life of the contracts as actual claims materialize. Retrospective income on insurance contracts is recognized when earned as that is the point at which we no longer believe a significant reversal of income is probable as the consideration is highly susceptible to factors outside of our influence.

Service Income: The Company has a single performance obligation associated with these contracts: the servicing of the RSA claims. Service revenues are recognized at the time service is provided to the customer.

Volume Rebate Incentive: As part of our agreement with our third-party provider of no-interest option programs, we may receive a volume rebate incentive based on the total dollar value of sales made under our third-party provider. The Company has a single performance obligations associated with this contract: the delivery of the product to the customer, at which point control transfers. Revenue for the volume rebate incentive is recognized upon deliver of the product to the customer based on the projected total annual dollar value of sales to be made under our third-party provider.

ASC 606 requires disaggregation of revenue recognized from contracts with customers to depict how the nature, amount, timing and uncertainty of revenue is affected by economic factors. The Company concluded that the disaggregated discrete financial information presented in Note 8, Segment Reporting, and Note 4, Finance Charges and Other Revenues, reviewed by our chief operating decision maker in evaluating the financial performance of our operating segments adequately addresses the disaggregation of revenue requirements of ASC 606.

Deferred Revenue. Deferred revenue related to contracts with customers as defined by ASC 606 as of April 30, 2018 and January 31, 2018 consisted of deferred customer deposits of $1.5 million and $1.8 million, respectively, and deferred RSA administration fees of $8.4 million and $8.7 million, respectively. All of the deferred customer deposits as of January 31, 2018 were recognized as revenue during the three months ended April 30, 2018. We recognized $1.3 million of income during the three months ended April 30, 2018 related to RSA administrative fees deferred as of January 31, 2018.

Changes in Revenue Recognition Due to ASC 606. The adoption of ASC 606 resulted in a change to our accounting policy related to retrospective income on RSAs. We participate in profit sharing agreements with the underwriters of our RSA products, payment from which is contingent upon the actual performance of the portfolio of the RSAs sold. Prior to the adoption of ASC 606, we recognized this revenue and related receivable as the amount due to us at each reporting date based on the performance of the portfolio through such date. The Company concluded that this retrospective income represents variable consideration under ASC 606 for which the Company’s performance obligation is satisfied when the RSA is sold to the customer. Under ASC 606, an estimate of variable consideration, subject to constraints, is to be included in the transaction price and recognized when or as the performance obligation is satisfied. As a result of the adoption of ASC 606, the Company changed its accounting policy related to retrospective income on RSAs to record an estimate of retrospective income when the RSA is sold, subject to constraints in the estimate. The Company's estimate of the amount of variable consideration is recorded as a contract asset, representing a conditional right to payment, and is included within other accounts receivable in the Condensed Consolidated Balance Sheet. The estimated contract asset will be reassessed at the end of each reporting period, with changes thereto recorded as adjustments to revenue.

The cumulative effect of the changes made to the Company’s Condensed Consolidated Balance Sheet as a result of the adoption of ASC 606 were as follows (in thousands):



	Impact of Adoption of ASC 606
(in thousands)	Balance at January 31, 2018		Adjustments due to ASC 606			Balance at February 1, 2018
Assets
Other Accounts Receivable	$	71,186	$	1,210		$	72,396
Deferred Income Taxes	21,565		(254		)	21,311
Stockholder's Equity	$	535,068	$	956		$	536,024

The adoption of ASC 606 did not have a material impact on the consolidated financial statements for the three months ended April 30, 2018 and no comparative financial statements are presented.

Internal Controls. As a result of the adoption of ASC 606 we evaluated our internal control framework, and there have been no changes in our internal controls over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force). ASU 2016-18 requires that the statement of cash flows provides the change in the total of cash, cash equivalents, and restricted cash or restricted cash equivalents. We hold restricted cash related to our asset backed security transactions and lending license requirements. Effective February 1, 2018, the Company adopted the ASU which resulted in us no longer presenting the changes in restricted cash balances as a component of cash flows from financing activities but instead include the balances of both current and long-term restricted cash with cash and cash equivalents in total cash, cash equivalents and restricted cash for the beginning and end of the periods presented. The total cash flow impact for the three months ended April 30, 2017 was an increase in the cash provided by financing activities of $49.3 million. The balances of cash and cash equivalents and restricted cash are separately presented within the Condensed Consolidated Balance Sheet as of April 30, 2018 and January 31, 2018.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force). ASU 2016-15 clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows to reduce diversity in practice. Among other things, debt prepayment or debt extinguishment costs will be presented as cash outflows for financing activities on the statement of cash flow. Effective February 1, 2018, the Company adopted the ASU, which resulted in us no longer presenting the change in debt extinguishment costs as a component of cash flows from operating activities but instead include the change as a component of cash flows from financing activities. The adoption of this ASU resulted in the classification of $0.3 million in payments on extinguishment of debt as a cash outflow from financing activities for the months ended April 30, 2018. There was no impact for the three months ended April 30, 2017.

Recent Accounting Pronouncements Yet To Be Adopted.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which will change how lessees account for leases. For most leases, a liability will be recorded on the balance sheet based on the present value of future lease obligations with a corresponding right-of-use asset. Primarily for those leases currently classified by us as operating leases, we will recognize a single lease cost on a straight line basis based on the combined amortization of the lease obligation and the right-of-use asset. Other leases will be required to be accounted for as financing arrangements similar to how we currently account for capital leases. On transition, we will recognize a cumulative-effect adjustment to the retained earnings on the opening balance sheet in the period of adoption using a modified retrospective approach. The final standard will become effective for us beginning in the first quarter of fiscal year 2020. Based on our preliminary assessment, we believe the adoption of this ASU will have a material impact on our financial statements as we will be required to report additional leases on our Condensed Consolidated Balance Sheet. We are the lessee under various lease agreements for our retail stores and equipment that are currently accounted for as operating leases as discussed in Note 8, Leases, of our audited Consolidated Financial Statements included in our 2018 Form 10-K.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The standard will become effective for us in the first quarter of fiscal year 2021 and early adoption is permitted beginning in the first quarter of fiscal year 2020. We have formed a cross-functional working group comprised of individuals from various functional areas including credit, finance, accounting, and information technology. While we are currently evaluating the likely impact the adoption of this ASU will have on our consolidated financial statements, the adoption of ASU 2016-13 is likely to result in a material increase in the allowance for loan losses as a result of changing from an "incurred loss" model, which encompasses allowances for current known and inherent losses within the portfolio, to an "expected loss" model, which encompasses allowances for losses expected to be incurred over the life of the portfolio.

Customer Accounts Receivable

3 Months Ended

Apr. 30, 2018

Receivables [Abstract]

Customer Accounts Receivable

Customer accounts receivable consisted of the following:



	Total Outstanding Balance
	Customer Accounts Receivable						60 Days Past Due ⁽¹⁾				Re-aged ^{(1) (2)}
(in thousands)	April 30, 2018			January 31, 2018			April 30, 2018		January 31, 2018		April 30, 2018		January 31, 2018
Customer accounts receivable	$	1,330,793		$	1,374,269		$	104,499	$	114,120	$	202,298	$	217,952
Restructured accounts	163,700			153,593			37,095		37,687		163,700		153,593
Total customer portfolio balance	$	1,494,493		$	1,527,862		$	141,594	$	151,807	$	365,998	$	371,545
Allowance for uncollectible accounts	(204,100		)	(203,572		)
Allowances for no-interest option credit programs	(20,827		)	(20,960		)
Deferred fees and origination costs, net	(15,898		)	(15,897		)
Total customer accounts receivable, net	1,253,668			1,287,433
Short-term portion of customer accounts receivable, net	(618,160		)	(636,825		)
Long-term portion of customer accounts receivable, net	$	635,508		$	650,608
Securitized receivables held by the VIEs	$	869,872		$	1,085,385		$	108,105	$	124,627	$	299,327	$	300,348
Receivables not held by the VIEs	624,621			442,477			33,489		27,180		66,671		71,197
Total customer portfolio balance	$	1,494,493		$	1,527,862		$	141,594	$	151,807	$	365,998	$	371,545

(1)

Due to the fact that an account can become past due after having been re-aged, accounts could be represented as both past due and re-aged. As of April 30, 2018 and January 31, 2018, the amounts included within both 60 days past due and re-aged was $81.6 million and $80.8 million, respectively. As of April 30, 2018 and January 31, 2018, the total customer portfolio balance past due one day or greater was $383.8 million and $401.0 million, respectively. These amounts include the 60 days past due balances shown.


(2)	The re-aged receivables balance as of April 30, 2018 and January 31, 2018 includes $54.2 million and $62.0 million in first time re-ages related to customers within FEMA-designated Hurricane Harvey disaster areas.

The following presents the activity in the allowance for doubtful accounts and uncollectible interest for customer receivables:



	Three Months Ended April 30, 2018									Three Months Ended April 30, 2017
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total			Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	148,856		$	54,716		$	203,572		$	158,992		$	51,183		$	210,175
Provision ⁽¹⁾	38,740			16,660			55,400			48,516			17,232			65,748
Principal charge-offs ⁽²⁾	(39,775		)	(11,144		)	(50,919		)	(48,087		)	(13,397		)	(61,484		)
Interest charge-offs	(7,360		)	(2,062		)	(9,422		)	(7,519		)	(2,095		)	(9,614		)
Recoveries ⁽²⁾	4,272			1,197			5,469			1,749			487			2,236
Allowance at end of period	$	144,733		$	59,367		$	204,100		$	153,651		$	53,410		$	207,061
Average total customer portfolio balance	$	1,347,373		$	159,410		$	1,506,783		$	1,372,808		$	139,026		$	1,511,834


(1)	Includes provision for uncollectible interest, which is included in finance charges and other revenues.


(2)	Charge-offs include the principal amount of losses (excluding accrued and unpaid interest). Recoveries include principal collections of previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Charges and Credits

3 Months Ended

Apr. 30, 2018

Charges and Credits [Abstract]

Charges and Credits

Charges and credits consisted of the following:



	Three Months Ended April 30,
(in thousands)	2018		2017
Facility closure costs	$	—	$	1,227
	$	—	$	1,227

During the three months ended April 30, 2017, we incurred exit costs associated with reducing the square footage of a distribution center.

Finance Charges and Other Revenue

3 Months Ended

Apr. 30, 2018

Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]

Finance Charges and Other Revenues

Finance charges and other revenues consisted of the following:



	Three Months Ended April 30,
(in thousands)	2018		2017
Interest income and fees	$	76,346	$	67,131
Insurance income	6,271		9,330
Other revenues	14		80
	$	82,631	$	76,541

Interest income and fees and insurance income are derived from the credit segment operations, whereas other revenues are derived from the retail segment operations. Insurance income is comprised of sales commissions from third-party insurance companies that are recognized when coverage is sold and retrospective income paid by the insurance carrier if insurance claims are less than earned premiums.

During the three months ended April 30, 2018 and 2017, interest income and fees reflected provisions for uncollectible interest of $11.5 million and $10.0 million, respectively. The amount included in interest income and fees related to TDR accounts for the three months ended April 30, 2018 and 2017 are $5.8 million and $4.5 million, respectively. Insurance income decreased over the prior year period primarily due to a decrease in retrospective income as a result of higher claim volumes related to Hurricane Harvey.

Debt and Capital Lease Obligations

3 Months Ended

Apr. 30, 2018

Debt Disclosure [Abstract]

Debt and Capital Lease Obligations

Debt and capital lease obligations consisted of the following:



(in thousands)	April 30, 2018			January 31, 2018
Revolving credit facility	$	147,550		$	77,000
Senior Notes	227,000			227,000
2016-B VIE Asset-backed Class B Notes	—			73,589
2017-A VIE Asset-backed Class A Notes	4,171			59,794
2017-A VIE Asset-backed Class B Notes	106,270			106,270
2017-A VIE Asset-backed Class C Notes	50,340			50,340
2017-B VIE Asset-backed Class A Notes	188,997			292,663
2017-B VIE Asset-backed Class B Notes	132,180			132,180
2017-B VIE Asset-backed Class C Notes	78,640			78,640
Warehouse Notes	22,321			—
Capital lease obligations	4,696			4,949
Total debt and capital lease obligations	962,165			1,102,425
Less:
Discount on debt	(2,387		)	(2,527		)
Deferred debt issuance costs	(7,063		)	(8,886		)
Current maturities of long-term debt and capital lease obligations	(23,180		)	(907		)
Long-term debt and capital lease obligations	$	929,535		$	1,090,105

Senior Notes. On July 1, 2014, we issued $250.0 million of the unsecured Senior Notes due July 2022 bearing interest at 7.25% (the "Senior Notes"), pursuant to an indenture dated July 1, 2014 (the "Indenture"), among Conn's, Inc., its subsidiary guarantors (the "Guarantors") and U.S. Bank National Association, as trustee. The effective interest rate of the Senior Notes after giving effect to the discount and issuance costs is 7.8%.

The Indenture restricts the Company's and certain of its subsidiaries' ability to: (i) incur indebtedness; (ii) pay dividends or make other distributions in respect of, or repurchase or redeem, our capital stock ("restricted payments"); (iii) prepay, redeem or repurchase debt that is junior in right of payment to the notes; (iv) make loans and certain investments; (v) sell assets; (vi) incur liens; (vii) enter into transactions with affiliates; and (viii) consolidate, merge or sell all or substantially all of our assets. These covenants are subject to a number of important exceptions and qualifications. Specifically, limitations on restricted payments are only effective if one or more of the following occurred: (1) a default were to exist under the Indenture, (2) we could not satisfy a debt incurrence test, and (3) the aggregate amount of restricted payments were to exceed an amount tied to consolidated net income. These limitations, however, are subject to two exceptions: (1) an exception that permits the payment of up to $375.0 million in restricted payments, and (2) an exception that permits restricted payments regardless of dollar amount so long as, after giving pro forma effect to the dividends and other restricted payments, we would have had a leverage ratio, as defined under the Indenture, of less than or equal to 2.50 to 1.0. As a result of these exceptions, as of April 30, 2018, $183.5 million would have been free from the distribution restriction. However, as a result of the revolving credit facility distribution restrictions, which are further described below, we were restricted from making a distribution in respect of the Senior Notes in excess of $64.7 million as of April 30, 2018. During any time when the Senior Notes are rated investment grade by either of Moody's Investors Service, Inc. or Standard & Poor's Ratings Services and no default (as defined in the Indenture) has occurred and is continuing, many of such covenants will be suspended and we will cease to be subject to such covenants during such period. Events of default under the Indenture include customary events, such as a cross-acceleration provision in the event that we fail to make payment of other indebtedness prior to the expiration of any applicable grace period or upon acceleration of indebtedness prior to its stated maturity date in an amount exceeding $25.0 million, as well as in the event a judgment is entered against us in excess of $25.0 million that is not discharged, bonded or insured.

Asset-backed Notes. During fiscal years 2018 and 2017 we securitized customer accounts receivables by transferring the receivables to various bankruptcy-remote VIEs. In turn, the VIEs issued asset-backed notes secured by the transferred customer accounts receivables and restricted cash held by the VIEs.

Under the terms of the securitization transactions, all cash collections and other cash proceeds of the customer receivables go first to the servicer and the holders of issued notes, and then to us as the holder of non-issued notes and residual equity. We retain the servicing of the securitized portfolios and receive a monthly fee of 4.75% (annualized) based on the outstanding balance of the securitized receivables. In addition, we, rather than the VIEs, retain all credit insurance income together with certain recoveries related to credit insurance and repair service agreements on charge-offs of the securitized receivables, which are reflected as a reduction to net charge-offs on a consolidated basis.

The asset-backed notes were offered and sold to qualified institutional buyers pursuant to the exemptions from registration provided by Rule 144A under the Securities Act of 1933, as amended. If an event of default were to occur under the indenture that governs the respective asset-backed notes, the payment of the outstanding amounts may be accelerated, in which event the cash proceeds of the receivables that otherwise might be released to the residual equity holder would instead be directed entirely toward repayment of the asset-backed notes, or if the receivables are liquidated, all liquidation proceeds could be directed solely to repayment of the asset-backed notes as governed by the respective terms of the asset-backed notes. The holders of the asset-backed notes have no recourse to assets outside of the VIEs. Events of default include, but are not limited to, failure to make required payments on the asset-backed notes or specified bankruptcy-related events.

The asset-backed notes consist of the following:



Asset-Backed Notes	Original Principal Amount		Original Net Proceeds⁽¹⁾		Current Principal Amount		Issuance Date	Maturity Date	Fixed Interest Rate	Effective Interest Rate⁽²⁾
2017-A Class A Notes	$	313,220	$	304,451	$	4,171	4/19/2017	7/15/2019	2.73%	5.33%
2017-A Class B Notes	106,270		103,300		106,270		4/19/2017	2/15/2020	5.11%	5.73%
2017-A Class C Notes	50,340		48,919		50,340		4/19/2017	10/15/2021	7.40%	7.77%
2017-B Class A Notes	361,400		358,945		188,997		12/20/2017	7/15/2020	2.73%	4.95%
2017-B Class B Notes	132,180		131,281		132,180		12/20/2017	4/15/2021	4.52%	5.14%
2017-B Class C Notes	78,640		77,843		78,640		12/20/2017	11/15/2022	5.95%	6.29%
Warehouse Notes	52,226		50,774		22,321		2/15/2018	2/15/2019	Index + 2.75% ⁽³⁾	7.72%
Total	$	1,094,276	$	1,075,513	$	582,919


(1)	After giving effect to debt issuance costs and restricted cash held by the VIEs.


(2)	For the three months ended April 30, 2018, and inclusive of retrospective adjustments to deferred debt issuance costs based on changes in timing of actual and expected cash flows.


(3)	The rate on the Warehouse Notes is defined as the applicable index plus a 2.75% fixed margin.

On February 15, 2018, affiliates of the Company closed on a $52.2 million financing under a receivables warehouse financing transaction entered into on February 6, 2018 (the "Warehouse Notes"). The net proceeds of the Warehouse Notes were used to prepay in full the Series 2016-B Class B Notes (the "2016-B Redeemed Notes") that were still outstanding as of February 15, 2018.

On February 15, 2018, the Company completed the redemption of the 2016-B Redeemed Notes at an aggregate redemption price of $73.6 million (which was equal to the entire outstanding principal of, plus accrued interest and the call premiums on, the 2016-B Redeemed Notes). The net funds used to call the notes was $50.3 million, which is equal to the redemption price less adjustments of $23.3 million for funds held in reserve and collection accounts in accordance with the terms of the applicable indenture governing the 2016-B Redeemed Notes. The difference between the net proceeds of the Warehouse Notes and the carrying value of the 2016-B Redeemed Notes at redemption was used to fund fees, expenses and a reserve account related to the Warehouse facility. In connection with the early redemption of the 2016-B Redeemed Notes, we wrote-off $0.4 million of debt issuance costs.

Revolving Credit Facility. On March 31, 2017, Conn's, Inc. and certain of its subsidiaries (the "Borrowers") entered into a Third Amendment to the Third Amended and Restated Loan and Security Agreement, dated as of October 30, 2015, with certain lenders, which, as of April 30, 2018, provided for a $750.0 million asset-based revolving credit facility (the "revolving credit facility") under which credit availability is subject to a borrowing base. As of April 30, 2018, the revolving credit facility matured on October 30, 2019.

As of April 30, 2018, loans under the revolving credit facility bore interest, at our option, at a rate equal to LIBOR plus the applicable margin based on facility availability which specified a margin ranging from 2.75% to 3.25% per annum (depending on quarterly average net availability under the borrowing base) or the alternate base rate plus a margin ranging from 1.75% to 2.25% per annum (depending on quarterly average net availability under the borrowing base). The alternate base rate is the greatest of the prime rate announced by Bank of America, N.A., the federal funds rate plus 0.5%, or LIBOR for a 30-day interest period plus 1.0%. As of April 30, 2018, we also paid an unused fee on the portion of the commitments that was available for future borrowings or letters of credit at a rate ranging from 0.25% to 0.75% per annum, depending on the average outstanding balance and letters of credit of the revolving credit facility in the immediately preceding quarter. The weighted-average interest rate on borrowings outstanding and including unused line fees under the revolving credit facility was 7.4% for the three months ended April 30, 2018.

The revolving credit facility provides funding based on a borrowing base calculation that includes customer accounts receivable and inventory, and provides for a $40.0 million sub-facility for letters of credit to support obligations incurred in the ordinary course of business. The obligations under the revolving credit facility are secured by substantially all assets of the Company, excluding the assets of the VIEs. As of April 30, 2018, we had immediately available borrowing capacity of $233.5 million under our revolving credit facility, net of standby letters of credit issued of $2.8 million. We also had $366.2 million that may become available under our revolving credit facility if we grow the balance of eligible customer receivables and total eligible inventory balances.

The revolving credit facility places restrictions on our ability to incur additional indebtedness, grant liens on assets, make distributions on equity interests, dispose of assets, make loans, pay other indebtedness, engage in mergers, and other matters. The revolving credit facility restricts our ability to make dividends and distributions unless no event of default exists and a liquidity test is satisfied. Subsidiaries of the Company may make dividends and distributions to the Company and other obligors under the revolving credit facility without restriction. As of April 30, 2018, we were restricted from making distributions, including repayments of the Senior Notes or other distributions, in excess of $64.7 million as a result of the revolving credit facility distribution restrictions. The revolving credit facility contains customary default provisions, which, if triggered, could result in acceleration of all amounts outstanding under the revolving credit facility.

Debt Covenants. We were in compliance with our debt covenants, as amended, at April 30, 2018. A summary of the significant financial covenants that govern our revolving credit facility, as amended, compared to our actual compliance status at April 30, 2018 is presented below:



	Actual	Required Minimum/ Maximum
Interest Coverage Ratio must equal or exceed minimum	2.86:1.00	1.25:1.00
Leverage Ratio must not exceed maximum	2.14:1.00	4.00:1.00
ABS Excluded Leverage Ratio must not exceed maximum	1.20:1.00	2.00:1.00
Cash Recovery Percent must exceed stated amount	5.51%	4.45%
Capital Expenditures, net, must not exceed maximum	$11.5 million	$75.0 million

All capitalized terms in the above table are defined by the revolving credit facility, as amended, and may or may not agree directly to the financial statement captions in this document. The covenants are calculated quarterly, except for the Cash Recovery Percent, which is calculated monthly on a trailing three-month basis, and capital expenditures, which is calculated for a period of four consecutive fiscal quarters, as of the end of each fiscal quarter.

Contingencies	3 Months Ended
Contingencies	Apr. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Securities Class Action Litigation. We and two of our former executive officers are defendants in a consolidated securities class action lawsuit pending in the United States District Court for the Southern District of Texas (the “Court”), captioned In re Conn's Inc. Securities Litigation, Cause No. 14-CV-00548 (the “Consolidated Securities Action”). The Consolidated Securities Action started as three separate purported securities class action lawsuits filed between March 5, 2014 and May 5, 2014 in the Court that were consolidated into the Consolidated Securities Action on June 3, 2014. The plaintiffs in the Consolidated Securities Action allege that the defendants made false and misleading statements or failed to disclose material adverse facts about our business, operations, and prospects. They allege violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder and seek to certify a class of all persons and entities that purchased or otherwise acquired Conn's common stock or call options, or sold or wrote Conn's put options between April 3, 2013 and December 9, 2014. The complaint does not specify the amount of damages sought. On June 30, 2015, the Court held a hearing on the defendants' motion to dismiss plaintiffs' complaint. At the hearing, the Court dismissed Brian Taylor, a former executive officer, and certain other aspects of the complaint. The Court ordered the plaintiffs to further amend their complaint in accordance with its ruling, and the plaintiffs filed their Fourth Consolidated Amended Complaint on July 21, 2015. The remaining defendants filed a motion to dismiss on August 28, 2015. The defendant's motion to dismiss was fully briefed and the Court held a hearing on defendants' motion on March 25, 2016 and on May 5, 2016, the Court issued a ruling that dismissed 78 of 91 alleged misstatements. The parties have submitted their respective briefs in support of, and in opposition to, class certification, and also engaged in discovery pursuant to the Court’s scheduling order. In late June 2017, the Court granted the plaintiffs’ motion for class certification, and shortly thereafter, Defendants filed a petition for permission to appeal to the United States Fifth Circuit Court of Appeals (the "Fifth Circuit"). The Fifth Circuit granted leave to appeal on August 21, 2017. Briefing on the appeal is complete. While the Fifth Circuit initially scheduled oral arguments on the appeal for May 2, 2018, the parties subsequently asked to postpone oral arguments. The Fifth Circuit has not set a new date for oral arguments. Trial is scheduled for October 2018. On April 2, 2018, MicroCapital Fund, LP, MicroCapital Fund Ltd, and MicroCapital LLC filed a lawsuit (the “MicroCapital Lawsuit”) against us and certain of our former executive officers in the United States District Court for the Southern District of Texas, Cause No. 4:18-CV-01020 (the "MicroCapital Action"). The plaintiffs in this action allege that the defendants made false and misleading statements or failed to disclose material facts about our credit and underwriting practices, accounting and internal controls. Plaintiffs allege violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, Texas and Connecticut common law fraud, and Texas common law negligent misrepresentation against all defendants; as well as section 20A of the Securities Exchange Act of 1934; and Connecticut common law negligent misrepresentation against certain defendants arising from plaintiffs’ purchase of Conn’s, Inc. securities between April 3, 2013 and February 20, 2014. The complaint does not specify the amount of damages sought. On April 27, 2018, the plaintiffs in the MicroCapital Action filed a motion for a ruling that discovery can proceed and a request for a Rule 16 conference. We filed a response in opposition with as a cross-motion to stay this action in its entirety on May 18, 2018. The deadline to move to dismiss or otherwise respond to the complaint in the MicroCapital Action is set for July 20, 2018. We intend to vigorously defend our interests in the Consolidated Securities Action and to vigorously defend against the claims in the MicroCapital Action. It is not possible at this time to predict the timing or outcome of any of this litigation, and we cannot reasonably estimate the possible loss or range of possible loss from these claims. Derivative Litigation. On December 1, 2014, an alleged shareholder, purportedly on behalf of the Company, filed a derivative shareholder lawsuit against us and certain of our current and former directors and former executive officers in the Court, captioned as Robert Hack, derivatively on behalf of Conn's, Inc., v. Theodore M. Wright (former executive officer and former director), Bob L. Martin, Jon E.M. Jacoby (former director), Kelly M. Malson, Douglas H. Martin, David Schofman, Scott L. Thompson (former director), Brian Taylor (former executive officer) and Michael J. Poppe (former executive officer) and Conn's, Inc., Case No. 4:14-cv-03442 (the "Original Derivative Action"). The complaint asserts claims for breach of fiduciary duty, unjust enrichment, gross mismanagement, and insider trading based on substantially similar factual allegations as those asserted in the Consolidated Securities Action. The plaintiff seeks unspecified damages against these persons and does not request any damages from us. Setting forth substantially similar claims against the same defendants, on February 25, 2015, an additional federal derivative action, captioned 95250 Canada LTEE, derivatively on Behalf of Conn's, Inc. v. Wright et al., Cause No. 4:15-cv-00521, was filed in the Court, which has been consolidated with the Original Derivative Action. The Court previously approved a stipulation among the parties to stay the action pending resolution of the motion for class certification in the Consolidated Securities Action. The parties have agreed to continue the stay pending a resolution of the Fifth Circuit appeal of class certification and, at this time, the Court has agreed to continue the stay. Another derivative action was filed on January 27, 2015, captioned as Richard A. Dohn v. Wright, et al., Cause No. 2015-04405, in the 281st Judicial District Court, Harris County, Texas. This action makes substantially similar allegations to the Original Derivative Action against the same defendants. On September 14, 2017, the court entered an order extending the stay until September 7, 2018. Prior to filing a lawsuit, an alleged shareholder, Robert J. Casey II ("Casey"), submitted a demand under Delaware law, which our Board of Directors refused. On May 19, 2016, Casey, purportedly on behalf of the Company, filed a lawsuit against us and certain of our current and former directors and former executive officers in the 55th Judicial District Court, Harris County, Texas, captioned as Casey, derivatively on behalf of Conn's, Inc., v. Theodore M. Wright (former executive officer and former director), Michael J. Poppe (former executive officer), Brian Taylor (former executive officer), Bob L. Martin, Jon E.M. Jacoby (former director), Kelly M. Malson, Douglas H. Martin, David Schofman, Scott L. Thompson (former director) and William E. Saunders Jr., and Conn's, Inc., Cause No. 2016-33135. The complaint asserts claims for breach of fiduciary duties and unjust enrichment based on substantially similar factual allegations as those asserted in the Original Derivative Action. The complaint does not specify the amount of damages sought. Pursuant to the parties’ agreement, this action is currently stayed. Other than Casey, none of the plaintiffs in the other derivative actions made a demand on our Board of Directors prior to filing their respective lawsuits. The defendants in the derivative actions intend to vigorously defend against these claims. It is not possible at this time to predict the timing or outcome of any of this litigation, and we cannot reasonably estimate the possible loss or range of possible loss from these claims. Regulatory Matters. We are continuing to cooperate with the SEC's investigation of our underwriting policies and bad debt provisions, which began in November 2014. The investigation is a non-public, fact-finding inquiry, and the SEC has stated that the investigation does not mean that any violations of law have occurred. In addition, we are involved in other routine litigation and claims incidental to our business from time to time which, individually or in the aggregate, are not expected to have a material adverse effect on us. As required, we accrue estimates of the probable costs for the resolution of these matters. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement strategies. However, the results of these proceedings cannot be predicted with certainty, and changes in facts and circumstances could impact our estimate of reserves for litigation. The Company believes that any probable and reasonably estimable loss associated with the foregoing has been adequately reflected in the accompanying financial statements.

Variable Interest Entity

3 Months Ended

Apr. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entity

Variable Interest Entities

In fiscal years 2018 and 2017, we securitized customer accounts receivables by transferring the receivables to various bankruptcy-remote VIEs. Under the terms of the respective securitization transactions, all cash collections and other cash proceeds of the customer receivables go first to the servicer and the holders of the asset-backed notes, and then to the residual equity holder. We retain the servicing of the securitized portfolio and receive a monthly fee of 4.75% (annualized) based on the outstanding balance of the securitized receivables, and we currently hold all of the residual equity. In addition, we, rather than the VIEs, will retain certain credit insurance income together with certain recoveries related to credit insurance and repair service agreements on charge-offs of the securitized receivables, which will continue to be reflected as a reduction of net charge-offs on a consolidated basis for as long as we consolidate the VIEs.

We consolidate VIEs when we determine that we are the primary beneficiary of these VIEs, we have the power to direct the activities that most significantly impact the performance of the VIEs and our obligation to absorb losses and the right to receive residual returns are significant.

The following table presents the assets and liabilities held by the VIEs (for legal purposes, the assets and liabilities of the VIEs will remain distinct from Conn's, Inc.):



(in thousands)	April 30, 2018			January 31, 2018
Assets:
Restricted cash	$	75,174		$	85,322
Due from Conn's, Inc., net	7,051			15,212
Customer accounts receivable:
Customer accounts receivable	750,425			987,418
Restructured accounts	119,448			97,967
Allowance for uncollectible accounts	(127,485		)	(143,115		)
Allowances for no-interest option credit programs	(14,645		)	(18,228		)
Deferred fees and origination costs	(6,851		)	(9,332		)
Total customer accounts receivable, net	720,892			914,710
Total assets	$	803,117		$	1,015,244
Liabilities:
Accrued expenses	$	5,236		$	6,723
Other liabilities	8,344			10,639
Current maturities of long-term debt:
Warehouse Notes	22,321			—
Deferred debt issuance costs	(236		)	—
	22,085			—
Long-term debt:
2016-B Class B Notes	—			73,589
2017-A Class A Notes	4,171			59,794
2017-A Class B Notes	106,270			106,270
2017-A Class C Notes	50,340			50,340
2017-B Class A Notes	188,997			292,663
2017-B Class B Notes	132,180			132,180
2017-B Class C Notes	78,640			78,640
	560,598			793,476
Less: deferred debt issuance costs	(3,626		)	(5,497		)
Total long-term debt	556,972			787,979
Total liabilities	$	592,637		$	805,341

The assets of the VIEs serve as collateral for the obligations of the VIEs. The holders of the asset-backed notes have no recourse to assets outside of the respective VIEs.

Segment Reporting

3 Months Ended

Apr. 30, 2018

Segment Reporting [Abstract]

Segment Reporting

Operating segments are defined as components of an enterprise that engage in business activities and for which discrete financial information is available that is evaluated on a regular basis by the chief operating decision maker to make decisions about how to allocate resources and assess performance. We are a leading specialty retailer and offer a broad selection of quality, branded durable consumer goods and related services in addition to a proprietary credit solution for our core credit-constrained consumers. We have two operating segments: (i) retail and (ii) credit. Our operating segments complement one another. The retail segment operates primarily through our stores and website in the retail furniture and mattresses, home appliances, consumer electronics and home office products business. Our retail segment product offerings include furniture and mattresses, home appliances, consumer electronics and home office products from leading global brands across a wide range of price points. Our credit segment offers affordable financing solutions to a large, under-served population of credit-constrained consumers who typically have limited credit alternatives. Our operating segments provide customers the opportunity to comparison shop across brands with confidence in our competitive prices as well as affordable monthly payment options, next day delivery and installation in the majority of our markets, and product repair service. The operating segments follow the same accounting policies used in our consolidated financial statements.

We evaluate a segment’s performance based upon operating income before taxes. Selling, general and administrative expenses include the direct expenses of the retail and credit operations, allocated corporate overhead expenses, and a charge to the credit segment to reimburse the retail segment for expenses it incurs related to occupancy, personnel, advertising and other direct costs of the retail segment, which benefit the credit operations by sourcing credit customers and collecting payments. The reimbursement received by the retail segment from the credit segment is estimated using an annual rate of 2.5% times the average portfolio balance for each applicable period.

As of April 30, 2018, we operated retail stores in 14 states with no operations outside of the United States. No single customer accounts for more than 10% of our total revenues.

Financial information by segment is presented in the following tables:



	Three Months Ended April 30, 2018							Three Months Ended April 30, 2017
(in thousands)	Retail		Credit			Total		Retail		Credit			Total
Revenues:
Furniture and mattress	$	97,020	$	—		$	97,020	$	94,443	$	—		$	94,443
Home appliance	78,023		—			78,023		80,122		—			80,122
Consumer electronic	52,302		—			52,302		55,753		—			55,753
Home office	18,310		—			18,310		16,788		—			16,788
Other	3,659		—			3,659		4,256		—			4,256
Product sales	249,314		—			249,314		251,362		—			251,362
Repair service agreement commissions	22,863		—			22,863		24,696		—			24,696
Service revenues	3,579		—			3,579		3,227		—			3,227
Total net sales	275,756		—			275,756		279,285		—			279,285
Finance charges and other revenues	14		82,617			82,631		80		76,461			76,541
Total revenues	275,770		82,617			358,387		279,365		76,461			355,826
Costs and expenses:
Cost of goods sold	166,589		—			166,589		171,950		—			171,950
Selling, general and administrative expenses ⁽¹⁾	77,752		37,126			114,878		73,947		32,590			106,537
Provision for bad debts	260		43,896			44,156		230		55,700			55,930
Charges and credits	—		—			—		1,227		—			1,227
Total costs and expense	244,601		81,022			325,623		247,354		88,290			335,644
Operating income (loss)	31,169		1,595			32,764		32,011		(11,829		)	20,182
Interest expense	—		16,820			16,820		—		24,008			24,008
Loss on extinguishment of debt	—		406			406		—		349			349
Income (loss) before income taxes	$	31,169	$	(15,631	)	$	15,538	$	32,011	$	(36,186	)	$	(4,175	)


(1)	For the three months ended April 30, 2018 and 2017, the amount of corporate overhead allocated to each segment reflected in selling, general and administrative expense was $8.4 million and $6.4 million, respectively. For the three months ended April 30, 2018 and 2017, the amount of reimbursement made to the retail segment by the credit segment was $9.4 million and $9.4 million, respectively.

Guarantor Financial Information

3 Months Ended

Apr. 30, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Guarantor Financial Information

Conn's, Inc. is a holding company with no independent assets or operations other than its investments in its subsidiaries. The Senior Notes, which were issued by Conn's, Inc., are fully and unconditionally guaranteed on a joint and several senior unsecured basis by the Guarantors. As of April 30, 2018 and January 31, 2018 the direct or indirect subsidiaries of Conn's, Inc. that were not Guarantors (the "Non-Guarantor Subsidiaries") were the VIEs and minor subsidiaries. There are no restrictions under the Indenture on the ability of any of the Guarantors to transfer funds to Conn's, Inc. in the form of dividends or distributions.

The following financial information presents the Condensed Consolidated Balance Sheet, statement of operations, and statement of cash flows for Conn's, Inc. (the issuer of the Senior Notes), the Guarantors, and the Non-Guarantor Subsidiaries, together with certain eliminations. Investments in subsidiaries are accounted for by the parent company using the equity method for purposes of this presentation. Results of operations of subsidiaries are therefore reflected in the parent company's investment accounts and operations. The consolidated financial information includes financial data for:

(i) Conn’s, Inc. (on a parent-only basis),

(ii) Guarantors,

(iii) Non-Guarantor Subsidiaries, and

(iv) the parent company and the subsidiaries on a consolidated basis at April 30, 2018 and January 31, 2018 (after the elimination of intercompany balances and transactions).

Condensed Consolidated Balance Sheet as of April 30, 2018



(in thousands)	Conn's, Inc.		Guarantors		Non-guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	6,190	$	—	$	—		$	6,190
Restricted cash	—		1,550		75,174		—			76,724
Customer accounts receivable, net of allowances	—		226,307		391,853		—			618,160
Other accounts receivable	—		73,543		—		—			73,543
Inventories	—		190,312		—		—			190,312
Other current assets	—		20,108		7,051		(10,875		)	16,284
Total current assets	—		518,010		474,078		(10,875		)	981,213
Investment in and advances to subsidiaries	753,815		210,480		—		(964,295		)	—
Long-term portion of customer accounts receivable, net of allowances	—		306,469		329,039		—			635,508
Property and equipment, net	—		141,314		—		—			141,314
Deferred income taxes	22,052		—		—		—			22,052
Other assets	—		4,662		—		—			4,662
Total assets	$	775,867	$	1,180,935	$	803,117	$	(975,170	)	$	1,784,749
Liabilities and Stockholders' Equity
Current liabilities:
Current maturities of debt and capital lease obligations	$	—	$	1,095	$	22,085	$	—		$	23,180
Accounts payable	—		82,362		—		—			82,362
Accrued expenses	4,800		60,859		5,236		(3,824		)	67,071
Other current liabilities	—		24,933		3,479		(7,051		)	21,361
Total current liabilities	4,800		169,249		30,800		(10,875		)	193,974
Deferred rent	—		85,729		—		—			85,729
Long-term debt and capital lease obligations	221,412		151,151		556,972		—			929,535
Other long-term liabilities	—		20,991		4,865		—			25,856
Total liabilities	226,212		427,120		592,637		(10,875		)	1,235,094
Total stockholders' equity	549,655		753,815		210,480		(964,295		)	549,655
Total liabilities and stockholders' equity	$	775,867	$	1,180,935	$	803,117	$	(975,170	)	$	1,784,749

Deferred income taxes related to tax attributes of the Guarantor Subsidiaries and Non-Guarantor Subsidiaries are reflected under Conn's, Inc.

Condensed Consolidated Balance Sheet as of January 31, 2018



(in thousands)	Conn's, Inc.		Guarantors		Non-guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	9,286	$	—	$	—		$	9,286
Restricted cash	—		1,550		85,322		—			86,872
Customer accounts receivable, net of allowances	—		177,117		459,708		—			636,825
Other accounts receivable	—		71,186		—		—			71,186
Inventories	—		211,894		—		—			211,894
Other current assets	—		68,621		15,212		(19,879		)	63,954
Total current assets	—		539,654		560,242		(19,879		)	1,080,017
Investment in and advances to subsidiaries	735,272		209,903		—		(945,175		)	—
Long-term portion of customer accounts receivable, net of allowances	—		195,606		455,002		—			650,608
Property and equipment, net	—		143,152		—		—			143,152
Deferred income taxes	21,565		—		—		—			21,565
Other assets	—		5,457		—		—			5,457
Total assets	$	756,837	$	1,093,772	$	1,015,244	$	(965,054	)	$	1,900,799
Liabilities and Stockholders' Equity
Current liabilities:
Current maturities of capital lease obligations	$	—	$	907	$	—	$	—		$	907
Accounts payable	—		71,617		—		—			71,617
Accrued expenses	686		66,370		6,723		(4,667		)	69,112
Other current liabilities	—		32,685		5,002		(15,212		)	22,475
Total current liabilities	686		171,579		11,725		(19,879		)	164,111
Deferred rent	—		87,003		—		—			87,003
Long-term debt and capital lease obligations	221,083		81,043		787,979		—			1,090,105
Other long-term liabilities	—		18,875		5,637		—			24,512
Total liabilities	221,769		358,500		805,341		(19,879		)	1,365,731
Total stockholders' equity	535,068		735,272		209,903		(945,175		)	535,068
Total liabilities and stockholders' equity	$	756,837	$	1,093,772	$	1,015,244	$	(965,054	)	$	1,900,799

Deferred income taxes related to tax attributes of the Guarantor Subsidiaries and Non-Guarantor Subsidiaries are reflected under Conn's, Inc.

Condensed Consolidated Statement of Operations for the three months ended April 30, 2018



(in thousands)	Conn's, Inc.			Guarantors			Non-guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	275,756		$	—		$	—		$	275,756
Finance charges and other revenues	—			45,655			36,976			—			82,631
Servicing fee revenue	—			16,746			—			(16,746		)	—
Total revenues	—			338,157			36,976			(16,746		)	358,387
Costs and expenses:
Cost of goods sold	—			166,589			—			—			166,589
Selling, general and administrative expense	—			119,793			11,831			(16,746		)	114,878
Provision for bad debts	—			7,008			37,148			—			44,156
Total costs and expenses	—			293,390			48,979			(16,746		)	325,623
Operating income (loss)	—			44,767			(12,003		)	—			32,764
Interest expense	4,443			3,033			9,344			—			16,820
Loss on extinguishment of debt	—			—			406			—			406
Income (loss) before income taxes	(4,443		)	41,734			(21,753		)	—			15,538
Provision (benefit) for income taxes	(802		)	7,537			(3,929		)	—			2,806
Net income (loss)	(3,641		)	34,197			(17,824		)	—			12,732
Income (loss) from consolidated subsidiaries	16,373			(17,824		)	—			1,451			—
Consolidated net income (loss)	$	12,732		$	16,373		$	(17,824	)	$	1,451		$	12,732

Condensed Consolidated Statement of Operations for the three months ended April 30, 2017



(in thousands)	Conn's, Inc.			Guarantors			Non-guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	279,285		$	—		$	—		$	279,285
Finance charges and other revenues	—			36,798			39,743			—			76,541
Servicing fee revenue	—			15,184			—			(15,184		)	—
Total revenues	—			331,267			39,743			(15,184		)	355,826
Costs and expenses:
Cost of goods sold	—			171,950			—			—			171,950
Selling, general and administrative expense	—			106,233			15,488			(15,184		)	106,537
Provision for bad debts	—			(5,433		)	61,363			—			55,930
Charges and credits	—			1,227			—			—			1,227
Total costs and expenses	—			273,977			76,851			(15,184		)	335,644
Operating income (loss)	—			57,290			(37,108		)	—			20,182
Interest expense	4,443			1,778			17,787			—			24,008
Loss on extinguishment of debt	—			349			—			—			349
Income (loss) before income taxes	(4,443		)	55,163			(54,895		)	—			(4,175		)
Provision (benefit) for income taxes	(1,698		)	21,078			(20,975		)	—			(1,595		)
Net income (loss)	(2,745		)	34,085			(33,920		)	—			(2,580		)
Income (loss) from consolidated subsidiaries	165			(33,920		)	—			33,755			—
Consolidated net income (loss)	$	(2,580	)	$	165		$	(33,920	)	$	33,755		$	(2,580	)

Condensed Consolidated Statement of Cash Flows for the three months ended April 30, 2018



(in thousands)	Conn's, Inc.			Guarantors			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(267	)	$	(14,194	)	$	149,800		$	—		$	135,339
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(50,774		)	50,774			—
Sale of customer accounts receivables	—			—			50,774			(50,774		)	—
Purchase of property and equipment	—			(6,169		)	—			—			(6,169		)
Net cash used in investing activities	—			(6,169		)	—			—			(6,169		)
Cash flows from financing activities:
Payments on asset-backed notes	—			(50,847		)	(181,737		)	—			(232,584		)
Borrowings from revolving credit facility	—			393,158			—			—			393,158
Payments on revolving credit facility	—			(322,608		)	—			—			(322,608		)
Borrowings from warehouse facility	—			—			52,226			—			52,226
Payments of debt issuance costs and amendment fees	—			(1		)	(532		)	—			(533		)
Payments on warehouse facility	—			—			(29,905		)	—			(29,905		)
Proceeds from stock issued under employee benefit plans	267			—			—			—			267
Tax payments associated with equity-based compensation transactions	—			(1,888		)	—			—			(1,888		)
Payments from extinguishment of debt	—			(294		)	—			—			(294		)
Other	—			(253		)	—			—			(253		)
Net cash provided by (used in) financing activities	267			17,267			(159,948		)	—			(142,414		)
Net change in cash, cash equivalents and restricted cash	—			(3,096		)	(10,148		)	—			(13,244		)
Cash, cash equivalents and restricted cash, beginning of period	—			10,836			85,322			—			96,158
Cash, cash equivalents and restricted cash, end of period	$	—		$	7,740		$	75,174		$	—		$	82,914

Condensed Consolidated Statement of Cash Flows for the three months ended April 30, 2017



(in thousands)	Conn's, Inc.			Guarantors			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(256	)	$	(192,236	)	$	283,256		$	—		$	90,764
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(466,056		)	466,056			—
Sale of customer accounts receivables	—			466,056			—			(466,056		)	—
Purchase of property and equipment	—			(4,286		)	—			—			(4,286		)
Net cash provided by (used in) investing activities	—			461,770			(466,056		)	—			(4,286		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			469,814			—			469,814
Payments on asset-backed notes	—			—			(232,931		)	—			(232,931		)
Borrowings from revolving credit facility	—			265,935			—			—			265,935
Payments on revolving credit facility	—			(443,435		)	—			—			(443,435		)
Payments of debt issuance costs and amendment fees	—			(2,865		)	(4,740		)	—			(7,605		)
Proceeds from stock issued under employee benefit plans	256			—			—			—			256
Other				84			—			—			84
Net cash provided by (used in) financing activities	256			(180,281		)	232,143			—			52,118
Net change in cash, cash equivalents and restricted cash	—			89,253			49,343			—			138,596
Cash, cash equivalents and restricted cash, beginning of period	—			23,566			110,698			—			134,264
Cash, cash equivalents and restricted cash, end of period	$	—		$	112,819		$	160,041		$	—		$	272,860

Subsequent Events	3 Months Ended
Subsequent Events	Apr. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On May 23, 2018, the Company and certain of its subsidiaries amended the revolving credit facility by entering into a Fourth Amended and Restated Loan and Security Agreement with certain lenders. The amended revolving credit facility (a) provided for a reduction in the aggregate commitments from $750 million to $650 million; (b) extended the maturity date to May 23, 2022, (c) modified the method by which the applicable margin is calculated to be based on the total leverage ratio, with the applicable margin ranging from 2.50% to 3.25% for LIBOR loans and from 1.50% to 2.25% for base rate loans, (d) eliminated a $10 million availability block in calculating the borrowing base, (e) increased the maximum accounts receivable advance rate from 75% to 80%, (f) decreased the maximum unused line fee from 75 basis points to 50 basis points, (g) eliminated the cash recovery covenant, (h) modified the maximum inventory component of the borrowing base from $175 million to 33.33% of revolving loan commitments in effect, (i) modified the interest coverage covenant such that the minimum interest coverage on a trailing two quarter basis is 1.5x and the minimum interest coverage during any single quarter is 1.0x, (j) increased the maximum capital expenditures from $75 million to $100 million during any period of four consecutive fiscal quarters and (k) modified the ability of the Company to effect future securitizations of its customer receivables portfolio, including adding the ability of the Company to enter into revolving ABS transactions.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Apr. 30, 2018

Accounting Policies [Abstract]

Business and Basis of Presentation

Fiscal Year

Fiscal Year. Our fiscal year ends on January 31. References to a fiscal year refer to the calendar year in which the fiscal year ends.

Principles of Consolidation

Variable Interest Entity

Refer to Note 5, Debt and Capital Lease Obligations, and Note 7, Variable Interest Entities, for additional information.

Use of Estimates

Cash and Cash Equivalents and Restricted Cash

Customer Accounts Receivable

Interest Income on Customer Accounts Receivable

Allowance for Doubtful Accounts

Debt Issuance Costs

Income Taxes

Share-based Compensation

Stock-based Compensation.

Earnings per Share

Fair Value of Financial Instruments


•	Level 1 – Inputs represent unadjusted quoted prices in active markets for identical assets or liabilities.

•


•	Level 3 – Inputs that are not observable from objective sources such as our internally developed assumptions used in pricing an asset or liability (for example, an estimate of future cash flows used in our internally developed present value of future cash flows model that underlies the fair-value measurement).

Recent Accounting Pronouncements Adopted and Recent Accounting Pronouncements Yet To Be Adopted

We recognized a net after-tax cumulative effect adjustment to retained earnings of $1.0 million as of the date of adoption. The details of our current revenue recognition policy, as well as the change due to ASC Topic 606, are described below.

The cumulative effect of the changes made to the Company’s Condensed Consolidated Balance Sheet as a result of the adoption of ASC 606 were as follows (in thousands):



	Impact of Adoption of ASC 606
(in thousands)	Balance at January 31, 2018		Adjustments due to ASC 606			Balance at February 1, 2018
Assets
Other Accounts Receivable	$	71,186	$	1,210		$	72,396
Deferred Income Taxes	21,565		(254		)	21,311
Stockholder's Equity	$	535,068	$	956		$	536,024

The adoption of ASC 606 did not have a material impact on the consolidated financial statements for the three months ended April 30, 2018 and no comparative financial statements are presented.

Recent Accounting Pronouncements Yet To Be Adopted.

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Apr. 30, 2018

Accounting Policies [Abstract]

RSUs, PSUs and stock options granted during the period

The following table sets forth the restricted stock unit awards ("RSUs"), performance stock awards ("PSUs") and stock options granted during the three months ended April 30, 2018 and 2017:



	Three Months Ended April 30,
	2018		2017
RSUs ⁽¹⁾	80,411		324,487
PSUs ⁽²⁾	—		429,000
Stock Options ⁽³⁾	620,166		—
Total stock awards granted	700,577		753,487

Aggregate grant date fair value (in thousands)	$	15,511	$	7,761

(1) The RSUs issued during the three months ended April 30, 2018 and 2017 are scheduled to vest ratably over periods of three to four years from the date of grant.

Shares outstanding for the earnings per share calculations



	Three Months Ended April 30,
	2018	2017
Weighted-average common shares outstanding - Basic	31,540,684	30,972,312
Dilutive effect of stock options, RSUs and PSUs	912,180	—
Weighted-average common shares outstanding - Diluted	32,452,864	30,972,312

Cumulative effect of the changes for adoption of Topic 606

The cumulative effect of the changes made to the Company’s Condensed Consolidated Balance Sheet as a result of the adoption of ASC 606 were as follows (in thousands):



	Impact of Adoption of ASC 606
(in thousands)	Balance at January 31, 2018		Adjustments due to ASC 606			Balance at February 1, 2018
Assets
Other Accounts Receivable	$	71,186	$	1,210		$	72,396
Deferred Income Taxes	21,565		(254		)	21,311
Stockholder's Equity	$	535,068	$	956		$	536,024

Customer Accounts Receivable (Tables)

3 Months Ended

Apr. 30, 2018

Receivables [Abstract]

Allowance for doubtful accounts and uncollectible interest for customer receivables

Customer accounts receivable consisted of the following:



	Total Outstanding Balance
	Customer Accounts Receivable						60 Days Past Due ⁽¹⁾				Re-aged ^{(1) (2)}
(in thousands)	April 30, 2018			January 31, 2018			April 30, 2018		January 31, 2018		April 30, 2018		January 31, 2018
Customer accounts receivable	$	1,330,793		$	1,374,269		$	104,499	$	114,120	$	202,298	$	217,952
Restructured accounts	163,700			153,593			37,095		37,687		163,700		153,593
Total customer portfolio balance	$	1,494,493		$	1,527,862		$	141,594	$	151,807	$	365,998	$	371,545
Allowance for uncollectible accounts	(204,100		)	(203,572		)
Allowances for no-interest option credit programs	(20,827		)	(20,960		)
Deferred fees and origination costs, net	(15,898		)	(15,897		)
Total customer accounts receivable, net	1,253,668			1,287,433
Short-term portion of customer accounts receivable, net	(618,160		)	(636,825		)
Long-term portion of customer accounts receivable, net	$	635,508		$	650,608
Securitized receivables held by the VIEs	$	869,872		$	1,085,385		$	108,105	$	124,627	$	299,327	$	300,348
Receivables not held by the VIEs	624,621			442,477			33,489		27,180		66,671		71,197
Total customer portfolio balance	$	1,494,493		$	1,527,862		$	141,594	$	151,807	$	365,998	$	371,545

(1)


(2)	The re-aged receivables balance as of April 30, 2018 and January 31, 2018 includes $54.2 million and $62.0 million in first time re-ages related to customers within FEMA-designated Hurricane Harvey disaster areas.

Activity in the allowance for doubtful accounts and uncollectible interest for customer receivables

The following presents the activity in the allowance for doubtful accounts and uncollectible interest for customer receivables:



	Three Months Ended April 30, 2018									Three Months Ended April 30, 2017
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total			Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	148,856		$	54,716		$	203,572		$	158,992		$	51,183		$	210,175
Provision ⁽¹⁾	38,740			16,660			55,400			48,516			17,232			65,748
Principal charge-offs ⁽²⁾	(39,775		)	(11,144		)	(50,919		)	(48,087		)	(13,397		)	(61,484		)
Interest charge-offs	(7,360		)	(2,062		)	(9,422		)	(7,519		)	(2,095		)	(9,614		)
Recoveries ⁽²⁾	4,272			1,197			5,469			1,749			487			2,236
Allowance at end of period	$	144,733		$	59,367		$	204,100		$	153,651		$	53,410		$	207,061
Average total customer portfolio balance	$	1,347,373		$	159,410		$	1,506,783		$	1,372,808		$	139,026		$	1,511,834


(1)	Includes provision for uncollectible interest, which is included in finance charges and other revenues.


(2)	Charge-offs include the principal amount of losses (excluding accrued and unpaid interest). Recoveries include principal collections of previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries.

Charges and Credits (Tables)

3 Months Ended

Apr. 30, 2018

Charges and Credits [Abstract]

Schedule of Charges and Credits

Charges and credits consisted of the following:



	Three Months Ended April 30,
(in thousands)	2018		2017
Facility closure costs	$	—	$	1,227
	$	—	$	1,227

Finance Charges and Other Revenue (Tables)

3 Months Ended

Apr. 30, 2018

Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]

Schedule of finance charges and other revenues

Finance charges and other revenues consisted of the following:



	Three Months Ended April 30,
(in thousands)	2018		2017
Interest income and fees	$	76,346	$	67,131
Insurance income	6,271		9,330
Other revenues	14		80
	$	82,631	$	76,541

Debt and Capital Lease Obligations (Tables)

3 Months Ended

Apr. 30, 2018

Debt Disclosure [Abstract]

Long-term Debt

Debt and capital lease obligations consisted of the following:



(in thousands)	April 30, 2018			January 31, 2018
Revolving credit facility	$	147,550		$	77,000
Senior Notes	227,000			227,000
2016-B VIE Asset-backed Class B Notes	—			73,589
2017-A VIE Asset-backed Class A Notes	4,171			59,794
2017-A VIE Asset-backed Class B Notes	106,270			106,270
2017-A VIE Asset-backed Class C Notes	50,340			50,340
2017-B VIE Asset-backed Class A Notes	188,997			292,663
2017-B VIE Asset-backed Class B Notes	132,180			132,180
2017-B VIE Asset-backed Class C Notes	78,640			78,640
Warehouse Notes	22,321			—
Capital lease obligations	4,696			4,949
Total debt and capital lease obligations	962,165			1,102,425
Less:
Discount on debt	(2,387		)	(2,527		)
Deferred debt issuance costs	(7,063		)	(8,886		)
Current maturities of long-term debt and capital lease obligations	(23,180		)	(907		)
Long-term debt and capital lease obligations	$	929,535		$	1,090,105

Schedule of Asset-backed Notes

The asset-backed notes consist of the following:



Asset-Backed Notes	Original Principal Amount		Original Net Proceeds⁽¹⁾		Current Principal Amount		Issuance Date	Maturity Date	Fixed Interest Rate	Effective Interest Rate⁽²⁾
2017-A Class A Notes	$	313,220	$	304,451	$	4,171	4/19/2017	7/15/2019	2.73%	5.33%
2017-A Class B Notes	106,270		103,300		106,270		4/19/2017	2/15/2020	5.11%	5.73%
2017-A Class C Notes	50,340		48,919		50,340		4/19/2017	10/15/2021	7.40%	7.77%
2017-B Class A Notes	361,400		358,945		188,997		12/20/2017	7/15/2020	2.73%	4.95%
2017-B Class B Notes	132,180		131,281		132,180		12/20/2017	4/15/2021	4.52%	5.14%
2017-B Class C Notes	78,640		77,843		78,640		12/20/2017	11/15/2022	5.95%	6.29%
Warehouse Notes	52,226		50,774		22,321		2/15/2018	2/15/2019	Index + 2.75% ⁽³⁾	7.72%
Total	$	1,094,276	$	1,075,513	$	582,919


(1)	After giving effect to debt issuance costs and restricted cash held by the VIEs.


(2)	For the three months ended April 30, 2018, and inclusive of retrospective adjustments to deferred debt issuance costs based on changes in timing of actual and expected cash flows.


(3)	The rate on the Warehouse Notes is defined as the applicable index plus a 2.75% fixed margin.

Covenant Compliance

A summary of the significant financial covenants that govern our revolving credit facility, as amended, compared to our actual compliance status at April 30, 2018 is presented below:



	Actual	Required Minimum/ Maximum
Interest Coverage Ratio must equal or exceed minimum	2.86:1.00	1.25:1.00
Leverage Ratio must not exceed maximum	2.14:1.00	4.00:1.00
ABS Excluded Leverage Ratio must not exceed maximum	1.20:1.00	2.00:1.00
Cash Recovery Percent must exceed stated amount	5.51%	4.45%
Capital Expenditures, net, must not exceed maximum	$11.5 million	$75.0 million

Variable Interest Entity (Tables)

3 Months Ended

Apr. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of assets and liabilities held by the VIE

The following table presents the assets and liabilities held by the VIEs (for legal purposes, the assets and liabilities of the VIEs will remain distinct from Conn's, Inc.):



(in thousands)	April 30, 2018			January 31, 2018
Assets:
Restricted cash	$	75,174		$	85,322
Due from Conn's, Inc., net	7,051			15,212
Customer accounts receivable:
Customer accounts receivable	750,425			987,418
Restructured accounts	119,448			97,967
Allowance for uncollectible accounts	(127,485		)	(143,115		)
Allowances for no-interest option credit programs	(14,645		)	(18,228		)
Deferred fees and origination costs	(6,851		)	(9,332		)
Total customer accounts receivable, net	720,892			914,710
Total assets	$	803,117		$	1,015,244
Liabilities:
Accrued expenses	$	5,236		$	6,723
Other liabilities	8,344			10,639
Current maturities of long-term debt:
Warehouse Notes	22,321			—
Deferred debt issuance costs	(236		)	—
	22,085			—
Long-term debt:
2016-B Class B Notes	—			73,589
2017-A Class A Notes	4,171			59,794
2017-A Class B Notes	106,270			106,270
2017-A Class C Notes	50,340			50,340
2017-B Class A Notes	188,997			292,663
2017-B Class B Notes	132,180			132,180
2017-B Class C Notes	78,640			78,640
	560,598			793,476
Less: deferred debt issuance costs	(3,626		)	(5,497		)
Total long-term debt	556,972			787,979
Total liabilities	$	592,637		$	805,341

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Segment Reporting (Tables)

3 Months Ended

Apr. 30, 2018

Segment Reporting [Abstract]

Financial information by segment

Financial information by segment is presented in the following tables:



	Three Months Ended April 30, 2018							Three Months Ended April 30, 2017
(in thousands)	Retail		Credit			Total		Retail		Credit			Total
Revenues:
Furniture and mattress	$	97,020	$	—		$	97,020	$	94,443	$	—		$	94,443
Home appliance	78,023		—			78,023		80,122		—			80,122
Consumer electronic	52,302		—			52,302		55,753		—			55,753
Home office	18,310		—			18,310		16,788		—			16,788
Other	3,659		—			3,659		4,256		—			4,256
Product sales	249,314		—			249,314		251,362		—			251,362
Repair service agreement commissions	22,863		—			22,863		24,696		—			24,696
Service revenues	3,579		—			3,579		3,227		—			3,227
Total net sales	275,756		—			275,756		279,285		—			279,285
Finance charges and other revenues	14		82,617			82,631		80		76,461			76,541
Total revenues	275,770		82,617			358,387		279,365		76,461			355,826
Costs and expenses:
Cost of goods sold	166,589		—			166,589		171,950		—			171,950
Selling, general and administrative expenses ⁽¹⁾	77,752		37,126			114,878		73,947		32,590			106,537
Provision for bad debts	260		43,896			44,156		230		55,700			55,930
Charges and credits	—		—			—		1,227		—			1,227
Total costs and expense	244,601		81,022			325,623		247,354		88,290			335,644
Operating income (loss)	31,169		1,595			32,764		32,011		(11,829		)	20,182
Interest expense	—		16,820			16,820		—		24,008			24,008
Loss on extinguishment of debt	—		406			406		—		349			349
Income (loss) before income taxes	$	31,169	$	(15,631	)	$	15,538	$	32,011	$	(36,186	)	$	(4,175	)


(1)	For the three months ended April 30, 2018 and 2017, the amount of corporate overhead allocated to each segment reflected in selling, general and administrative expense was $8.4 million and $6.4 million, respectively. For the three months ended April 30, 2018 and 2017, the amount of reimbursement made to the retail segment by the credit segment was $9.4 million and $9.4 million, respectively.

Guarantor Financial Information (Tables)

3 Months Ended

Apr. 30, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidated Balance Sheet

Condensed Consolidated Balance Sheet as of January 31, 2018



(in thousands)	Conn's, Inc.		Guarantors		Non-guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	9,286	$	—	$	—		$	9,286
Restricted cash	—		1,550		85,322		—			86,872
Customer accounts receivable, net of allowances	—		177,117		459,708		—			636,825
Other accounts receivable	—		71,186		—		—			71,186
Inventories	—		211,894		—		—			211,894
Other current assets	—		68,621		15,212		(19,879		)	63,954
Total current assets	—		539,654		560,242		(19,879		)	1,080,017
Investment in and advances to subsidiaries	735,272		209,903		—		(945,175		)	—
Long-term portion of customer accounts receivable, net of allowances	—		195,606		455,002		—			650,608
Property and equipment, net	—		143,152		—		—			143,152
Deferred income taxes	21,565		—		—		—			21,565
Other assets	—		5,457		—		—			5,457
Total assets	$	756,837	$	1,093,772	$	1,015,244	$	(965,054	)	$	1,900,799
Liabilities and Stockholders' Equity
Current liabilities:
Current maturities of capital lease obligations	$	—	$	907	$	—	$	—		$	907
Accounts payable	—		71,617		—		—			71,617
Accrued expenses	686		66,370		6,723		(4,667		)	69,112
Other current liabilities	—		32,685		5,002		(15,212		)	22,475
Total current liabilities	686		171,579		11,725		(19,879		)	164,111
Deferred rent	—		87,003		—		—			87,003
Long-term debt and capital lease obligations	221,083		81,043		787,979		—			1,090,105
Other long-term liabilities	—		18,875		5,637		—			24,512
Total liabilities	221,769		358,500		805,341		(19,879		)	1,365,731
Total stockholders' equity	535,068		735,272		209,903		(945,175		)	535,068
Total liabilities and stockholders' equity	$	756,837	$	1,093,772	$	1,015,244	$	(965,054	)	$	1,900,799

Condensed Consolidated Balance Sheet as of April 30, 2018



(in thousands)	Conn's, Inc.		Guarantors		Non-guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	6,190	$	—	$	—		$	6,190
Restricted cash	—		1,550		75,174		—			76,724
Customer accounts receivable, net of allowances	—		226,307		391,853		—			618,160
Other accounts receivable	—		73,543		—		—			73,543
Inventories	—		190,312		—		—			190,312
Other current assets	—		20,108		7,051		(10,875		)	16,284
Total current assets	—		518,010		474,078		(10,875		)	981,213
Investment in and advances to subsidiaries	753,815		210,480		—		(964,295		)	—
Long-term portion of customer accounts receivable, net of allowances	—		306,469		329,039		—			635,508
Property and equipment, net	—		141,314		—		—			141,314
Deferred income taxes	22,052		—		—		—			22,052
Other assets	—		4,662		—		—			4,662
Total assets	$	775,867	$	1,180,935	$	803,117	$	(975,170	)	$	1,784,749
Liabilities and Stockholders' Equity
Current liabilities:
Current maturities of debt and capital lease obligations	$	—	$	1,095	$	22,085	$	—		$	23,180
Accounts payable	—		82,362		—		—			82,362
Accrued expenses	4,800		60,859		5,236		(3,824		)	67,071
Other current liabilities	—		24,933		3,479		(7,051		)	21,361
Total current liabilities	4,800		169,249		30,800		(10,875		)	193,974
Deferred rent	—		85,729		—		—			85,729
Long-term debt and capital lease obligations	221,412		151,151		556,972		—			929,535
Other long-term liabilities	—		20,991		4,865		—			25,856
Total liabilities	226,212		427,120		592,637		(10,875		)	1,235,094
Total stockholders' equity	549,655		753,815		210,480		(964,295		)	549,655
Total liabilities and stockholders' equity	$	775,867	$	1,180,935	$	803,117	$	(975,170	)	$	1,784,749

Condensed Consolidated Statement of Operations

Condensed Consolidated Statement of Operations for the three months ended April 30, 2018



(in thousands)	Conn's, Inc.			Guarantors			Non-guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	275,756		$	—		$	—		$	275,756
Finance charges and other revenues	—			45,655			36,976			—			82,631
Servicing fee revenue	—			16,746			—			(16,746		)	—
Total revenues	—			338,157			36,976			(16,746		)	358,387
Costs and expenses:
Cost of goods sold	—			166,589			—			—			166,589
Selling, general and administrative expense	—			119,793			11,831			(16,746		)	114,878
Provision for bad debts	—			7,008			37,148			—			44,156
Total costs and expenses	—			293,390			48,979			(16,746		)	325,623
Operating income (loss)	—			44,767			(12,003		)	—			32,764
Interest expense	4,443			3,033			9,344			—			16,820
Loss on extinguishment of debt	—			—			406			—			406
Income (loss) before income taxes	(4,443		)	41,734			(21,753		)	—			15,538
Provision (benefit) for income taxes	(802		)	7,537			(3,929		)	—			2,806
Net income (loss)	(3,641		)	34,197			(17,824		)	—			12,732
Income (loss) from consolidated subsidiaries	16,373			(17,824		)	—			1,451			—
Consolidated net income (loss)	$	12,732		$	16,373		$	(17,824	)	$	1,451		$	12,732

Condensed Consolidated Statement of Operations for the three months ended April 30, 2017



(in thousands)	Conn's, Inc.			Guarantors			Non-guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	279,285		$	—		$	—		$	279,285
Finance charges and other revenues	—			36,798			39,743			—			76,541
Servicing fee revenue	—			15,184			—			(15,184		)	—
Total revenues	—			331,267			39,743			(15,184		)	355,826
Costs and expenses:
Cost of goods sold	—			171,950			—			—			171,950
Selling, general and administrative expense	—			106,233			15,488			(15,184		)	106,537
Provision for bad debts	—			(5,433		)	61,363			—			55,930
Charges and credits	—			1,227			—			—			1,227
Total costs and expenses	—			273,977			76,851			(15,184		)	335,644
Operating income (loss)	—			57,290			(37,108		)	—			20,182
Interest expense	4,443			1,778			17,787			—			24,008
Loss on extinguishment of debt	—			349			—			—			349
Income (loss) before income taxes	(4,443		)	55,163			(54,895		)	—			(4,175		)
Provision (benefit) for income taxes	(1,698		)	21,078			(20,975		)	—			(1,595		)
Net income (loss)	(2,745		)	34,085			(33,920		)	—			(2,580		)
Income (loss) from consolidated subsidiaries	165			(33,920		)	—			33,755			—
Consolidated net income (loss)	$	(2,580	)	$	165		$	(33,920	)	$	33,755		$	(2,580	)

Condensed Consolidated Statement of Cash Flows

Condensed Consolidated Statement of Cash Flows for the three months ended April 30, 2018



(in thousands)	Conn's, Inc.			Guarantors			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(267	)	$	(14,194	)	$	149,800		$	—		$	135,339
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(50,774		)	50,774			—
Sale of customer accounts receivables	—			—			50,774			(50,774		)	—
Purchase of property and equipment	—			(6,169		)	—			—			(6,169		)
Net cash used in investing activities	—			(6,169		)	—			—			(6,169		)
Cash flows from financing activities:
Payments on asset-backed notes	—			(50,847		)	(181,737		)	—			(232,584		)
Borrowings from revolving credit facility	—			393,158			—			—			393,158
Payments on revolving credit facility	—			(322,608		)	—			—			(322,608		)
Borrowings from warehouse facility	—			—			52,226			—			52,226
Payments of debt issuance costs and amendment fees	—			(1		)	(532		)	—			(533		)
Payments on warehouse facility	—			—			(29,905		)	—			(29,905		)
Proceeds from stock issued under employee benefit plans	267			—			—			—			267
Tax payments associated with equity-based compensation transactions	—			(1,888		)	—			—			(1,888		)
Payments from extinguishment of debt	—			(294		)	—			—			(294		)
Other	—			(253		)	—			—			(253		)
Net cash provided by (used in) financing activities	267			17,267			(159,948		)	—			(142,414		)
Net change in cash, cash equivalents and restricted cash	—			(3,096		)	(10,148		)	—			(13,244		)
Cash, cash equivalents and restricted cash, beginning of period	—			10,836			85,322			—			96,158
Cash, cash equivalents and restricted cash, end of period	$	—		$	7,740		$	75,174		$	—		$	82,914

Condensed Consolidated Statement of Cash Flows for the three months ended April 30, 2017



(in thousands)	Conn's, Inc.			Guarantors			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(256	)	$	(192,236	)	$	283,256		$	—		$	90,764
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(466,056		)	466,056			—
Sale of customer accounts receivables	—			466,056			—			(466,056		)	—
Purchase of property and equipment	—			(4,286		)	—			—			(4,286		)
Net cash provided by (used in) investing activities	—			461,770			(466,056		)	—			(4,286		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			469,814			—			469,814
Payments on asset-backed notes	—			—			(232,931		)	—			(232,931		)
Borrowings from revolving credit facility	—			265,935			—			—			265,935
Payments on revolving credit facility	—			(443,435		)	—			—			(443,435		)
Payments of debt issuance costs and amendment fees	—			(2,865		)	(4,740		)	—			(7,605		)
Proceeds from stock issued under employee benefit plans	256			—			—			—			256
Other				84			—			—			84
Net cash provided by (used in) financing activities	256			(180,281		)	232,143			—			52,118
Net change in cash, cash equivalents and restricted cash	—			89,253			49,343			—			138,596
Cash, cash equivalents and restricted cash, beginning of period	—			23,566			110,698			—			134,264
Cash, cash equivalents and restricted cash, end of period	$	—		$	112,819		$	160,041		$	—		$	272,860

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2018 USD ($) segment	Apr. 30, 2017	Jan. 31, 2018 USD ($)
Debt Instrument [Line Items]
Number of operating segments \| segment	2
Cash and Cash Equivalents and Restricted Cash
Cash and cash equivalents include credit card deposits in-transit	$ 3,800		$ 2,000
Restricted cash	76,724		86,872
Interest Income on Customer Accounts Receivable
Deferred revenue	12,500		12,500
Nonaccrual status	15,800		16,900
Amount in bankruptcy and less than 60 days past due	12,100		14,500
90 days past due and still accruing	111,100		109,700
Debt Issuance Costs
Deferred debt issuance costs	$ 7,063		8,886
Income Taxes
Effective tax rate	18.10%	38.20%
Fair Value of Financial Instruments
Long-term debt	$ 582,919
Senior Notes [Member]
Fair Value of Financial Instruments
Debt fair value	224,800
Secured Debt [Member]
Fair Value of Financial Instruments
Long-term debt	227,000
Revolving Credit Facility [Member]
Debt Issuance Costs
Deferred debt issuance costs	4,400		5,200
Securitized Receivables Servicer [Member]
Cash and Cash Equivalents and Restricted Cash
Restricted cash	18,500		27,200
Collateral Held by VIE [Member]
Cash and Cash Equivalents and Restricted Cash
Restricted cash	$ 56,700		$ 58,100

Summary of Significant Accounting Policies - Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock awards granted (in shares)	700,577	753,487
Aggregate grant date fair value	$ 15,511	$ 7,761
Dividend yield	0.00%
Stock-based compensation expense	$ 2,520	$ 1,583
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
(RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs (in shares)	80,411	324,487
(PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs (in shares)	0	429,000
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Options (in shares)	620,166	0
Expected volatility rate	68.00%
Expected term	6 years 6 months
Risk free interest rate	2.67%

Summary of Significant Accounting Policies - Earnings per Share (Details) - shares	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares outstanding - Basic (in shares)	31,540,684	30,972,312
Weighted average common shares outstanding - Diluted (in shares)	32,452,864	30,972,312
Weighted average number of stock options and restricted stock units not included in the calculation of the dilutive effect of stock options and restricted stock units (in shares)	305,313	944,423
Stock Option [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock options, RSUs and PSUs (in shares)	912,180	0

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($)	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Feb. 01, 2018	Jan. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred revenue	$ 12,500,000			$ 12,500,000
Other accounts receivable	73,543,000			71,186,000
Deferred income taxes	22,052,000			21,565,000
Stockholder's Equity	549,655,000			535,068,000
Net cash provided by (used in) financing activities	(142,414,000)	$ 52,118,000
Payment for debt extinguishment	294,000	0
Customer Deposits [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred revenue	1,500,000			$ 1,800,000
RSA Administration Fees [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percent of revenue deferred				5.00%
Deferred revenue, revenue recognized	1,300,000
Deferred revenue	8,400,000			$ 8,700,000
Topic 606 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative impact on adoption of ASU			$ 1,000,000
Other accounts receivable			72,396,000
Deferred income taxes			21,311,000
Stockholder's Equity			536,024,000
Topic 606 [Member] \| Balance at January 31, 2018 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other accounts receivable				71,186,000
Deferred income taxes				21,565,000
Stockholder's Equity				$ 535,068,000
Topic 606 [Member] \| Adjustments due to Topic 606 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other accounts receivable			1,210,000
Deferred income taxes			(254,000)
Stockholder's Equity			$ 956,000
ASU 2016-18 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash provided by (used in) financing activities	49,300,000
ASU 2016-15 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative impact on adoption of ASU		$ 0
Payment for debt extinguishment	$ 300,000

Customer Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2018	Jan. 31, 2018	Apr. 30, 2017
Total Outstanding Balance
Customer accounts receivable			$ 1,494,493	$ 1,527,862
60 Days Past Due			141,594	151,807
Reaged			365,998	371,545
Allowance for uncollectible accounts	$ (203,572)	$ (210,175)	(204,100)	(203,572)	$ (207,061)
Allowances for no-interest option credit programs			(20,827)	(20,960)
Deferred fees and origination costs, net			(15,898)	(15,897)
Total customer accounts receivable, net			1,253,668	1,287,433
Short-term portion of customer accounts receivable, net			(618,160)	(636,825)
Long-term portion of customer accounts receivable, net			635,508	650,608
Amounts included within past due and reaged accounts			81,600	80,800
Past due			383,800	401,000
Reaged			54,200	62,000
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period	203,572	210,175
Provision	55,400	65,748
Principal charge-offs	(50,919)	(61,484)
Interest charge-offs	(9,422)	(9,614)
Recoveries	5,469	2,236
Allowance at end of period	204,100	207,061
Average total customer portfolio balance			1,506,783		1,511,834
Excluding VIE [Member]
Total Outstanding Balance
Customer accounts receivable			624,621	442,477
60 Days Past Due			33,489	27,180
Reaged			66,671	71,197
Variable Interest Entity [Member]
Total Outstanding Balance
Customer accounts receivable			869,872	1,085,385
60 Days Past Due			108,105	124,627
Reaged			299,327	300,348
Allowance for uncollectible accounts	(143,115)		(127,485)	(143,115)
Allowances for no-interest option credit programs			(14,645)	(18,228)
Deferred fees and origination costs, net			(6,851)	(9,332)
Total customer accounts receivable, net			720,892	914,710
Short-term portion of customer accounts receivable, net			(391,853)	(459,708)
Long-term portion of customer accounts receivable, net			329,039	455,002
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period	143,115
Allowance at end of period	127,485
Customer Accounts Receivable [Member]
Total Outstanding Balance
Customer accounts receivable			1,330,793	1,374,269
60 Days Past Due			104,499	114,120
Reaged			202,298	217,952
Allowance for uncollectible accounts	(148,856)	(158,992)	(144,733)	(148,856)	(153,651)
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period	148,856	158,992
Provision	38,740	48,516
Principal charge-offs	(39,775)	(48,087)
Interest charge-offs	(7,360)	(7,519)
Recoveries	4,272	1,749
Allowance at end of period	144,733	153,651
Average total customer portfolio balance			1,347,373		1,372,808
Restructured Accounts [Member]
Total Outstanding Balance
Customer accounts receivable			163,700	153,593
60 Days Past Due			37,095	37,687
Reaged			163,700	153,593
Allowance for uncollectible accounts	(54,716)	(51,183)	(59,367)	$ (54,716)	(53,410)
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period	54,716	51,183
Provision	16,660	17,232
Principal charge-offs	(11,144)	(13,397)
Interest charge-offs	(2,062)	(2,095)
Recoveries	1,197	487
Allowance at end of period	$ 59,367	$ 53,410
Average total customer portfolio balance			$ 159,410		$ 139,026

Charges and Credits (Details) - USD ($) $ in Thousands	3 Months Ended
Charges and Credits (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Apr. 30, 2017
Charges and Credits [Abstract]
Facility closure costs	$ 0	$ 1,227
Charges and credits	$ 0	$ 1,227

Finance Charges and Other Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Interest income and fees	$ 76,346	$ 67,131
Insurance income	6,271	9,330
Other revenues	14	80
Finance charges and other	82,631	76,541
Provisions for uncollectible interest	11,500	10,000
Financing Receivable [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Interest income and fees	$ 5,800	$ 4,500

Debt and Capital Lease Obligations - Schedule of Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018
Long-term debt [Abstract]
Long-term debt	$ 582,919
Capital lease obligations	4,696	$ 4,949
Total debt and capital lease obligations	962,165	1,102,425
Less:
Discount on debt	(2,387)	(2,527)
Deferred debt issuance costs	(7,063)	(8,886)
Current maturities of long-term debt and capital lease obligations	(23,180)	(907)
Long-term debt and capital lease obligations	929,535	1,090,105
Senior Notes [Member]
Long-term debt [Abstract]
Long-term debt	227,000	227,000
2016-B Class B Notes [Member] \| Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	0	73,589
2017-A Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	4,171
2017-A Class A Notes [Member] \| Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	4,171	59,794
2017-A Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	106,270
2017-A Class B Notes [Member] \| Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	106,270	106,270
2017-A Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	50,340
2017-A Class C Notes [Member] \| Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	50,340	50,340
2017-B Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	188,997
2017-B Class A Notes [Member] \| Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	188,997	292,663
2017-B Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	132,180
2017-B Class B Notes [Member] \| Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	132,180	132,180
2017-B Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	78,640
2017-B Class C Notes [Member] \| Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	78,640	78,640
Warehouse Notes [Member]
Long-term debt [Abstract]
Long-term debt	22,321	0
Less:
Current maturities of long-term debt and capital lease obligations		0
Revolving Credit Facility [Member]
Less:
Deferred debt issuance costs	(4,400)	(5,200)
Revolving Credit Facility [Member] \| Line of Credit [Member]
Long-term debt [Abstract]
Long-term debt	$ 147,550	$ 77,000

Debt and Capital Lease Obligations - Senior Notes (Details)	Apr. 30, 2018 USD ($) exception	Jul. 01, 2014 USD ($)
Debt Instrument [Line Items]
Original Principal Amount	$ 1,094,276,000
Senior Notes [Member] \| Senior Unsecured Notes Due July 2022 [Member]
Debt Instrument [Line Items]
Original Principal Amount		$ 250,000,000
Interest rate on notes (in hundredths)		7.25%
Effective interest rate		7.80%
Number of exceptions for limitations \| exception	2
Restricted payment basket amount	$ 375,000,000.0
Leverage ratio	2.50
Restrictions on payment of dividends, amount free from restriction	$ 183,500,000
Trigger amount under indenture		$ 25,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Restrictions on payment of dividends, amount free from restriction	$ 64,700,000

Debt and Capital Lease Obligations - Asset Backed Notes (Details) - USD ($)				3 Months Ended	12 Months Ended
	Feb. 15, 2018	Dec. 20, 2017	Apr. 19, 2017	Apr. 30, 2018	Jan. 31, 2018
Debt Instrument [Line Items]
Monthly fee percentage on outstanding balance					4.75%
Original Principal Amount				$ 1,094,276,000
Original Net Proceeds				1,075,513,000
Current Principal Amount				582,919,000
2017-A Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				313,220,000
Original Net Proceeds			$ 304,451,000
Current Principal Amount				$ 4,171,000
Fixed Interest Rate				2.73%
Effective interest rate				5.33%
2017-A Class A Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 4,171,000	$ 59,794,000
2017-A Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				106,270,000
Original Net Proceeds			103,300,000
Current Principal Amount				$ 106,270,000
Fixed Interest Rate				5.11%
Effective interest rate				5.73%
2017-A Class B Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 106,270,000	106,270,000
2017-A Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				50,340,000
Original Net Proceeds			$ 48,919,000
Current Principal Amount				$ 50,340,000
Fixed Interest Rate				7.40%
Effective interest rate				7.77%
2017-A Class C Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 50,340,000	50,340,000
2017-B Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				361,400,000
Original Net Proceeds		$ 358,945,000
Current Principal Amount				$ 188,997,000
Fixed Interest Rate				2.73%
Effective interest rate				4.95%
2017-B Class A Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 188,997,000	292,663,000
2017-B Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				132,180,000
Original Net Proceeds		131,281,000
Current Principal Amount				$ 132,180,000
Fixed Interest Rate				4.52%
Effective interest rate				5.14%
2017-B Class B Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 132,180,000	132,180,000
2017-B Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				78,640,000
Original Net Proceeds		$ 77,843,000
Current Principal Amount				$ 78,640,000
Fixed Interest Rate				5.95%
Effective interest rate				6.29%
2017-B Class C Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 78,640,000	78,640,000
Warehouse Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	$ 52,200,000.0			52,226,000
Original Net Proceeds	50,774,000
Current Principal Amount				$ 22,321,000	0
Fixed Interest Rate				2.75%
Effective interest rate				7.72%
2016-B Class B Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 0	$ 73,589,000
Redemption amount	73,600,000
Payments to redeem debt	50,300,000
Adjustments	$ 23,300,000
Write off debt issuance costs				$ 400,000
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Monthly fee percentage on outstanding balance				4.75%	4.75%

Debt and Capital Lease Obligations - Revolving Credit Facility (Details) - USD ($)		3 Months Ended
	Mar. 31, 2017	Apr. 30, 2018	Jan. 31, 2018
Line of Credit Facility [Line Items]
Minimum cash recovery percentage		4.45%
Original Principal Amount		$ 1,094,276,000
Deferred debt issuance costs		7,063,000	$ 8,886,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Deferred debt issuance costs		$ 4,400,000	$ 5,200,000
Line of Credit [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum capacity extended under credit facility	$ 750,000,000
Unused capacity fee percentage	0.75%
Weighted-average interest rate		7.40%
Restrictions on payment of dividends, amount free from restriction		$ 64,700,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Unused capacity fee percentage		0.25%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Unused capacity fee percentage		0.75%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Variable basis spread		1.00%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Alternate Base Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable basis spread		1.75%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Alternate Base Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable basis spread		2.25%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Variable basis spread		0.50%
Line of Credit [Member] \| Letter of Credit [Member]
Line of Credit Facility [Line Items]
Original Principal Amount		$ 40,000,000.0
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Sub-facility for letters of credit		2,800,000
Available borrowing capacity		233,500,000
Additional remaining borrowing capacity		$ 366,200,000
Revolving Credit Facility [Member] \| LIBOR [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable basis spread		2.75%
Revolving Credit Facility [Member] \| LIBOR [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable basis spread		3.25%

Debt and Capital Lease Obligations - Debt Covenants (Details) $ in Millions	3 Months Ended
	Apr. 30, 2018 USD ($)
Actual
Interest Coverage Ratio must equal or exceed minimum	2.86
Leverage Ratio must not exceed maximum	2.14
ABS Excluded Leverage Ratio must not exceed maximum	1.20
Cash Recovery Percent must exceed stated amount	5.51%
Capital Expenditures, net, must not exceed maximum	$ 11.5
Required Minimum/ Maximum
Interest Coverage Ratio must equal or exceed minimum	1.25
Leverage Ratio must not exceed maximum	4.00
ABS Excluded Leverage Ratio must not exceed maximum	2.00
ABS Excluded Leverage Ratio must not exceed maximum	4.45%
Capital Expenditures, net, must not exceed maximum	$ 75.0
Determination period	12 months

Contingencies (Details) - False and Misleading Statements and Failure to Disclosure Adverse Information [Member]		3 Months Ended
	Jun. 30, 2015 allegation	Apr. 30, 2018 defendant	May 05, 2014 claim
Loss Contingencies [Line Items]
Number of pending actions \| claim			3
Number of allegations dismissed in claim	78
Number of allegations in claim	91
Executive Officer [Member]
Loss Contingencies [Line Items]
Number of defendants \| defendant		2

Variable Interest Entity - Additional Information (Details)	12 Months Ended
	Jan. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Monthly fee percentage on outstanding balance	4.75%

Variable Interest Entity (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018	Apr. 30, 2017	Jan. 31, 2017
Assets:
Restricted cash	$ 76,724	$ 86,872
Customer accounts receivable:
Allowance for uncollectible accounts	(204,100)	(203,572)	$ (207,061)	$ (210,175)
Allowances for no-interest option credit programs	20,827	20,960
Deferred fees and origination costs, net	(15,898)	(15,897)
Total customer accounts receivable, net	1,253,668	1,287,433
Total assets	1,784,749	1,900,799
Current maturities of long-term debt:
Current maturities of long-term debt and capital lease obligations	23,180	907
Total long-term debt	582,919
Less: deferred debt issuance costs	(7,063)	(8,886)
Long-term debt	929,535	1,090,105
Total liabilities	1,235,094	1,365,731
Warehouse Notes [Member]
Current maturities of long-term debt:
Current maturities of long-term debt and capital lease obligations		0
Total long-term debt	22,321	0
2017-A Class A Notes [Member]
Current maturities of long-term debt:
Total long-term debt	4,171
2017-A Class B Notes [Member]
Current maturities of long-term debt:
Total long-term debt	106,270
2017-A Class C Notes [Member]
Current maturities of long-term debt:
Total long-term debt	50,340
2017-B Class A Notes [Member]
Current maturities of long-term debt:
Total long-term debt	188,997
2017-B Class B Notes [Member]
Current maturities of long-term debt:
Total long-term debt	132,180
2017-B Class C Notes [Member]
Current maturities of long-term debt:
Total long-term debt	78,640
Secured Debt [Member] \| 2016-B Class B Notes [Member]
Current maturities of long-term debt:
Total long-term debt	0	73,589
Secured Debt [Member] \| 2017-A Class A Notes [Member]
Current maturities of long-term debt:
Total long-term debt	4,171	59,794
Secured Debt [Member] \| 2017-A Class B Notes [Member]
Current maturities of long-term debt:
Total long-term debt	106,270	106,270
Secured Debt [Member] \| 2017-A Class C Notes [Member]
Current maturities of long-term debt:
Total long-term debt	50,340	50,340
Secured Debt [Member] \| 2017-B Class A Notes [Member]
Current maturities of long-term debt:
Total long-term debt	188,997	292,663
Secured Debt [Member] \| 2017-B Class B Notes [Member]
Current maturities of long-term debt:
Total long-term debt	132,180	132,180
Secured Debt [Member] \| 2017-B Class C Notes [Member]
Current maturities of long-term debt:
Total long-term debt	78,640	78,640
Variable Interest Entity [Member]
Assets:
Restricted cash	75,174	85,322
Due from Conn's, Inc., net	7,051	15,212
Customer accounts receivable:
Customer accounts receivable	750,425	987,418
Restructured accounts	119,448	97,967
Allowance for uncollectible accounts	(127,485)	(143,115)
Allowances for no-interest option credit programs	14,645	18,228
Deferred fees and origination costs, net	(6,851)	(9,332)
Total customer accounts receivable, net	720,892	914,710
Total assets	803,117	1,015,244
Liabilities:
Accrued expenses	5,236	6,723
Other liabilities	8,344	10,639
Current maturities of long-term debt:
Current maturities of long-term debt and capital lease obligations	22,085	0
Total long-term debt	556,972	787,979
Less: deferred debt issuance costs	(3,626)	(5,497)
Long-term debt	560,598	793,476
Total liabilities	592,637	805,341
Variable Interest Entity [Member] \| Warehouse Notes [Member]
Current maturities of long-term debt:
Less: deferred debt issuance costs	$ (236)	$ 0

Segment Reporting (Details) $ in Thousands	3 Months Ended
Segment Reporting (Details) $ in Thousands	Apr. 30, 2018 USD ($) state store segment	Apr. 30, 2017 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment	2
Estimated annual rate of reimbursement (in hundredths)	2.50%
Number of states with retail stores \| state	14
Revenues:
Product sales	$ 249,314	$ 251,362
Repair service agreement commissions	22,863	24,696
Service revenues	3,579	3,227
Total net sales	275,756	279,285
Finance charges and other revenues	82,631	76,541
Total revenues	358,387	355,826
Costs and expenses:
Cost of goods sold	166,589	171,950
Selling, general and administrative expense	114,878	106,537
Provision for bad debts	44,156	55,930
Charges and credits	0	1,227
Total costs and expenses	325,623	335,644
Operating income	32,764	20,182
Interest expense	16,820	24,008
Loss on extinguishment of debt	406	349
Income (loss) before income taxes	15,538	(4,175)
Allocation of overhead by operating segments	8,400	6,400
Intersegment Eliminations [Member]
Revenues:
Total revenues	9,400	9,400
Retail [Member]
Revenues:
Product sales	249,314	251,362
Repair service agreement commissions	22,863	24,696
Service revenues	3,579	3,227
Total net sales	275,756	279,285
Finance charges and other revenues	14	80
Total revenues	275,770	279,365
Costs and expenses:
Cost of goods sold	166,589	171,950
Selling, general and administrative expense	77,752	73,947
Provision for bad debts	260	230
Charges and credits	0	1,227
Total costs and expenses	244,601	247,354
Operating income	31,169	32,011
Interest expense	0	0
Loss on extinguishment of debt	0	0
Income (loss) before income taxes	31,169	32,011
Credit [Member]
Revenues:
Product sales	0	0
Repair service agreement commissions	0	0
Service revenues	0	0
Total net sales	0	0
Finance charges and other revenues	82,617	76,461
Total revenues	82,617	76,461
Costs and expenses:
Cost of goods sold	0	0
Selling, general and administrative expense	37,126	32,590
Provision for bad debts	43,896	55,700
Charges and credits	0	0
Total costs and expenses	81,022	88,290
Operating income	1,595	(11,829)
Interest expense	16,820	24,008
Loss on extinguishment of debt	406	349
Income (loss) before income taxes	(15,631)	(36,186)
Furniture and Mattress [Member]
Revenues:
Product sales	97,020	94,443
Furniture and Mattress [Member] \| Retail [Member]
Revenues:
Product sales	97,020	94,443
Furniture and Mattress [Member] \| Credit [Member]
Revenues:
Product sales	0	0
Home Appliance [Member]
Revenues:
Product sales	78,023	80,122
Home Appliance [Member] \| Retail [Member]
Revenues:
Product sales	78,023	80,122
Home Appliance [Member] \| Credit [Member]
Revenues:
Product sales	0	0
Consumer Electronic [Member]
Revenues:
Product sales	52,302	55,753
Consumer Electronic [Member] \| Retail [Member]
Revenues:
Product sales	52,302	55,753
Consumer Electronic [Member] \| Credit [Member]
Revenues:
Product sales	0	0
Home Office [Member]
Revenues:
Product sales	18,310	16,788
Home Office [Member] \| Retail [Member]
Revenues:
Product sales	18,310	16,788
Home Office [Member] \| Credit [Member]
Revenues:
Product sales	0	0
Other [Member]
Revenues:
Product sales	3,659	4,256
Other [Member] \| Retail [Member]
Revenues:
Product sales	3,659	4,256
Other [Member] \| Credit [Member]
Revenues:
Product sales	$ 0	$ 0
Outside of US [Member]
Segment Reporting Information [Line Items]
Number of stores \| store	0

Guarantor Financial Information (Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018
Current assets:
Cash and cash equivalents	$ 6,190	$ 9,286
Restricted cash	76,724	86,872
Customer accounts receivable, net of allowances (includes VIE balance of $391,853 and $459,708, respectively)	618,160	636,825
Other accounts receivable	73,543	71,186
Inventories	190,312	211,894
Other current assets	16,284	63,954
Total current assets	981,213	1,080,017
Investment in and advances to subsidiaries	0	0
Long-term portion of customer accounts receivable, net of allowances (includes VIE balance of $329,039 and $455,002, respectively)	635,508	650,608
Property and equipment, net	141,314	143,152
Deferred income taxes	22,052	21,565
Other assets	4,662	5,457
Total assets	1,784,749	1,900,799
Current liabilities:
Current maturities of long-term debt and capital lease obligations	23,180	907
Accounts payable	82,362	71,617
Accrued expenses	67,071	69,112
Other current liabilities	21,361	22,475
Total current liabilities	193,974	164,111
Deferred rent	85,729	87,003
Long-term debt and capital lease obligations	929,535	1,090,105
Other long-term liabilities	25,856	24,512
Total liabilities	1,235,094	1,365,731
Total stockholders' equity	549,655	535,068
Total liabilities and stockholders' equity	1,784,749	1,900,799
Eliminations [Member]
Current assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Customer accounts receivable, net of allowances (includes VIE balance of $391,853 and $459,708, respectively)	0	0
Other accounts receivable	0	0
Inventories	0	0
Other current assets	(10,875)	(19,879)
Total current assets	(10,875)	(19,879)
Investment in and advances to subsidiaries	(964,295)	(945,175)
Long-term portion of customer accounts receivable, net of allowances (includes VIE balance of $329,039 and $455,002, respectively)	0	0
Property and equipment, net	0	0
Deferred income taxes	0	0
Other assets	0	0
Total assets	(975,170)	(965,054)
Current liabilities:
Current maturities of long-term debt and capital lease obligations	0	0
Accounts payable	0	0
Accrued expenses	(3,824)	(4,667)
Other current liabilities	(7,051)	(15,212)
Total current liabilities	(10,875)	(19,879)
Deferred rent	0	0
Long-term debt and capital lease obligations	0	0
Other long-term liabilities	0	0
Total liabilities	(10,875)	(19,879)
Total stockholders' equity	(964,295)	(945,175)
Total liabilities and stockholders' equity	(975,170)	(965,054)
Conn's, Inc. [Member]
Current assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Customer accounts receivable, net of allowances (includes VIE balance of $391,853 and $459,708, respectively)	0	0
Other accounts receivable	0	0
Inventories	0	0
Other current assets	0	0
Total current assets	0	0
Investment in and advances to subsidiaries	753,815	735,272
Long-term portion of customer accounts receivable, net of allowances (includes VIE balance of $329,039 and $455,002, respectively)	0	0
Property and equipment, net	0	0
Deferred income taxes	22,052	21,565
Other assets	0	0
Total assets	775,867	756,837
Current liabilities:
Current maturities of long-term debt and capital lease obligations	0	0
Accounts payable	0	0
Accrued expenses	4,800	686
Other current liabilities	0	0
Total current liabilities	4,800	686
Deferred rent	0	0
Long-term debt and capital lease obligations	221,412	221,083
Other long-term liabilities	0	0
Total liabilities	226,212	221,769
Total stockholders' equity	549,655	535,068
Total liabilities and stockholders' equity	775,867	756,837
Guarantors [Member]
Current assets:
Cash and cash equivalents	6,190	9,286
Restricted cash	1,550	1,550
Customer accounts receivable, net of allowances (includes VIE balance of $391,853 and $459,708, respectively)	226,307	177,117
Other accounts receivable	73,543	71,186
Inventories	190,312	211,894
Other current assets	20,108	68,621
Total current assets	518,010	539,654
Investment in and advances to subsidiaries	210,480	209,903
Long-term portion of customer accounts receivable, net of allowances (includes VIE balance of $329,039 and $455,002, respectively)	306,469	195,606
Property and equipment, net	141,314	143,152
Deferred income taxes	0	0
Other assets	4,662	5,457
Total assets	1,180,935	1,093,772
Current liabilities:
Current maturities of long-term debt and capital lease obligations	1,095	907
Accounts payable	82,362	71,617
Accrued expenses	60,859	66,370
Other current liabilities	24,933	32,685
Total current liabilities	169,249	171,579
Deferred rent	85,729	87,003
Long-term debt and capital lease obligations	151,151	81,043
Other long-term liabilities	20,991	18,875
Total liabilities	427,120	358,500
Total stockholders' equity	753,815	735,272
Total liabilities and stockholders' equity	1,180,935	1,093,772
Non-guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	0	0
Restricted cash	75,174	85,322
Customer accounts receivable, net of allowances (includes VIE balance of $391,853 and $459,708, respectively)	391,853	459,708
Other accounts receivable	0	0
Inventories	0	0
Other current assets	7,051	15,212
Total current assets	474,078	560,242
Investment in and advances to subsidiaries	0	0
Long-term portion of customer accounts receivable, net of allowances (includes VIE balance of $329,039 and $455,002, respectively)	329,039	455,002
Property and equipment, net	0	0
Deferred income taxes	0	0
Other assets	0	0
Total assets	803,117	1,015,244
Current liabilities:
Current maturities of long-term debt and capital lease obligations	22,085	0
Accounts payable	0	0
Accrued expenses	5,236	6,723
Other current liabilities	3,479	5,002
Total current liabilities	30,800	11,725
Deferred rent	0	0
Long-term debt and capital lease obligations	556,972	787,979
Other long-term liabilities	4,865	5,637
Total liabilities	592,637	805,341
Total stockholders' equity	210,480	209,903
Total liabilities and stockholders' equity	$ 803,117	$ 1,015,244

Guarantor Financial Information (Condensed Consolidated Statement of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Revenues:
Total net sales	$ 275,756	$ 279,285
Finance charges and other revenues	82,631	76,541
Servicing fee revenue	0	0
Total revenues	358,387	355,826
Costs and expenses:
Cost of goods sold	166,589	171,950
Selling, general and administrative expense	114,878	106,537
Provision for bad debts	44,156	55,930
Charges and credits	0	1,227
Total costs and expenses	325,623	335,644
Operating income	32,764	20,182
Interest expense	16,820	24,008
Loss on extinguishment of debt	406	349
Income (loss) before income taxes	15,538	(4,175)
Provision (benefit) for income taxes	2,806	(1,595)
Net income (loss)	12,732	(2,580)
Income (loss) from consolidated subsidiaries	0	0
Net income (loss)	12,732	(2,580)
Eliminations [Member]
Revenues:
Total net sales	0	0
Finance charges and other revenues	0	0
Servicing fee revenue	(16,746)	(15,184)
Total revenues	(16,746)	(15,184)
Costs and expenses:
Cost of goods sold	0	0
Selling, general and administrative expense	(16,746)	(15,184)
Provision for bad debts	0	0
Charges and credits		0
Total costs and expenses	(16,746)	(15,184)
Operating income	0	0
Interest expense	0	0
Loss on extinguishment of debt	0	0
Income (loss) before income taxes	0	0
Provision (benefit) for income taxes	0	0
Net income (loss)	0	0
Income (loss) from consolidated subsidiaries	1,451	33,755
Net income (loss)	1,451	33,755
Conn's, Inc. [Member]
Revenues:
Total net sales	0	0
Finance charges and other revenues	0	0
Servicing fee revenue	0	0
Total revenues	0	0
Costs and expenses:
Cost of goods sold	0	0
Selling, general and administrative expense	0	0
Provision for bad debts	0	0
Charges and credits		0
Total costs and expenses	0	0
Operating income	0	0
Interest expense	4,443	4,443
Loss on extinguishment of debt	0	0
Income (loss) before income taxes	(4,443)	(4,443)
Provision (benefit) for income taxes	(802)	(1,698)
Net income (loss)	(3,641)	(2,745)
Income (loss) from consolidated subsidiaries	16,373	165
Net income (loss)	12,732	(2,580)
Guarantors [Member]
Revenues:
Total net sales	275,756	279,285
Finance charges and other revenues	45,655	36,798
Servicing fee revenue	16,746	15,184
Total revenues	338,157	331,267
Costs and expenses:
Cost of goods sold	166,589	171,950
Selling, general and administrative expense	119,793	106,233
Provision for bad debts	7,008	(5,433)
Charges and credits		1,227
Total costs and expenses	293,390	273,977
Operating income	44,767	57,290
Interest expense	3,033	1,778
Loss on extinguishment of debt	0	349
Income (loss) before income taxes	41,734	55,163
Provision (benefit) for income taxes	7,537	21,078
Net income (loss)	34,197	34,085
Income (loss) from consolidated subsidiaries	(17,824)	(33,920)
Net income (loss)	16,373	165
Non-guarantor Subsidiaries [Member]
Revenues:
Total net sales	0	0
Finance charges and other revenues	36,976	39,743
Servicing fee revenue	0	0
Total revenues	36,976	39,743
Costs and expenses:
Cost of goods sold	0	0
Selling, general and administrative expense	11,831	15,488
Provision for bad debts	37,148	61,363
Charges and credits		0
Total costs and expenses	48,979	76,851
Operating income	(12,003)	(37,108)
Interest expense	9,344	17,787
Loss on extinguishment of debt	406	0
Income (loss) before income taxes	(21,753)	(54,895)
Provision (benefit) for income taxes	(3,929)	(20,975)
Net income (loss)	(17,824)	(33,920)
Income (loss) from consolidated subsidiaries	0	0
Net income (loss)	$ (17,824)	$ (33,920)

Guarantor Financial Information (Condensed Consolidated Statement of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 135,339	$ 90,764
Cash flows from investing activities:
Purchase of customer accounts receivables	0	0
Sale of customer accounts receivables	0	0
Purchase of property and equipment	(6,169)	(4,286)
Net cash used in investing activities	(6,169)	(4,286)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	0	469,814
Payments on asset-backed notes	(232,584)	(232,931)
Borrowings from revolving credit facility	393,158	265,935
Payments on revolving credit facility	(322,608)	(443,435)
Borrowings from warehouse facility	52,226	0
Payments of debt issuance costs and amendment fees	(533)	(7,605)
Payments on warehouse facility	(29,905)	0
Proceeds from stock issued under employee benefit plans	267	256
Tax payments associated with equity-based compensation transactions	(1,888)	0
Payments from extinguishment of debt	(294)	0
Other	(253)	84
Net cash (used in) provided by financing activities	(142,414)	52,118
Net change in cash, cash equivalents and restricted cash	(13,244)	138,596
Cash, cash equivalents and restricted cash, beginning of period	96,158	134,264
Cash, cash equivalents and restricted cash, end of period	82,914	272,860
Eliminations [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	0	0
Cash flows from investing activities:
Purchase of customer accounts receivables	50,774	466,056
Sale of customer accounts receivables	(50,774)	(466,056)
Purchase of property and equipment	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes		0
Payments on asset-backed notes	0	0
Borrowings from revolving credit facility	0	0
Payments on revolving credit facility	0	0
Borrowings from warehouse facility	0
Payments of debt issuance costs and amendment fees	0	0
Payments on warehouse facility	0
Proceeds from stock issued under employee benefit plans	0	0
Tax payments associated with equity-based compensation transactions	0
Other	0	0
Net cash (used in) provided by financing activities	0	0
Net change in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Conn's, Inc. [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(267)	(256)
Cash flows from investing activities:
Purchase of customer accounts receivables	0	0
Sale of customer accounts receivables	0	0
Purchase of property and equipment	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes		0
Payments on asset-backed notes	0	0
Borrowings from revolving credit facility	0	0
Payments on revolving credit facility	0	0
Borrowings from warehouse facility	0
Payments of debt issuance costs and amendment fees	0	0
Payments on warehouse facility	0
Proceeds from stock issued under employee benefit plans	267	256
Tax payments associated with equity-based compensation transactions	0
Other	0
Net cash (used in) provided by financing activities	267	256
Net change in cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Guarantors [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(14,194)	(192,236)
Cash flows from investing activities:
Purchase of customer accounts receivables	0	0
Sale of customer accounts receivables	0	466,056
Purchase of property and equipment	(6,169)	(4,286)
Net cash used in investing activities	(6,169)	461,770
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes		0
Payments on asset-backed notes	(50,847)	0
Borrowings from revolving credit facility	393,158	265,935
Payments on revolving credit facility	(322,608)	(443,435)
Borrowings from warehouse facility	0
Payments of debt issuance costs and amendment fees	(1)	(2,865)
Payments on warehouse facility	0
Proceeds from stock issued under employee benefit plans	0	0
Tax payments associated with equity-based compensation transactions	(1,888)
Payments from extinguishment of debt	(294)
Other	(253)	84
Net cash (used in) provided by financing activities	17,267	(180,281)
Net change in cash, cash equivalents and restricted cash	(3,096)	89,253
Cash, cash equivalents and restricted cash, beginning of period	10,836	23,566
Cash, cash equivalents and restricted cash, end of period	7,740	112,819
Non-guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	149,800	283,256
Cash flows from investing activities:
Purchase of customer accounts receivables	(50,774)	(466,056)
Sale of customer accounts receivables	50,774	0
Purchase of property and equipment	0	0
Net cash used in investing activities	0	(466,056)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes		469,814
Payments on asset-backed notes	(181,737)	(232,931)
Borrowings from revolving credit facility	0	0
Payments on revolving credit facility	0	0
Borrowings from warehouse facility	52,226
Payments of debt issuance costs and amendment fees	(532)	(4,740)
Payments on warehouse facility	(29,905)
Proceeds from stock issued under employee benefit plans	0	0
Tax payments associated with equity-based compensation transactions	0
Payments from extinguishment of debt	0
Other	0	0
Net cash (used in) provided by financing activities	(159,948)	232,143
Net change in cash, cash equivalents and restricted cash	(10,148)	49,343
Cash, cash equivalents and restricted cash, beginning of period	85,322	110,698
Cash, cash equivalents and restricted cash, end of period	$ 75,174	$ 160,041

Subsequent Events (Details)			3 Months Ended
Subsequent Events (Details)	May 23, 2018 USD ($)	Mar. 31, 2017 USD ($)	Apr. 30, 2018
Subsequent Event [Line Items]
Determination period			12 months
Revolving Credit Facility [Member] \| Line of Credit [Member]
Subsequent Event [Line Items]
Aggregate commitments		$ 750,000,000
Accounts receivable advance rate		75.00%
Unused line fee		0.75%
Maximum capital expenditures		$ 75,000,000
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Aggregate commitments	$ 650,000,000
Available block in calculating borrowing base	$ 10,000,000
Accounts receivable advance rate	80.00%
Unused line fee	0.50%
Maximum inventory component of the borrowing base	$ 175,000,000
Percent of revolving loan commitment in effect	33.33%
Maximum capital expenditures	$ 100,000,000
Determination period	12 months
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Two quarter basis [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Minimum interest coverage rate	1.5
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Single quarter [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Minimum interest coverage rate	1.0
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Minimum [Member]
Subsequent Event [Line Items]
Unused line fee			0.25%
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Unused line fee			0.75%
Revolving Credit Facility [Member] \| Line of Credit [Member] \| LIBOR [Member]
Subsequent Event [Line Items]
Variable basis spread			1.00%
Revolving Credit Facility [Member] \| Line of Credit [Member] \| LIBOR [Member] \| Minimum [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Variable basis spread	2.50%
Revolving Credit Facility [Member] \| Line of Credit [Member] \| LIBOR [Member] \| Maximum [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Variable basis spread	3.25%
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Base Rate [Member] \| Minimum [Member]
Subsequent Event [Line Items]
Variable basis spread			1.75%
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Base Rate [Member] \| Minimum [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Variable basis spread	1.50%
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Base Rate [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Variable basis spread			2.25%
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Base Rate [Member] \| Maximum [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Variable basis spread	2.25%