View Filing Data

Print Document View Excel Document

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Jan. 31, 2020	Apr. 01, 2020	Jul. 31, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	CONNS INC
Entity Central Index Key	0001223389
Current Fiscal Year End Date	--01-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Public Float			$ 304.7
Entity Common Stock, Shares Outstanding		29,007,164
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jan. 31, 2020

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2020	Jan. 31, 2019
Current assets:
Cash and cash equivalents	$ 5,485	$ 5,912
Restricted cash (includes VIE balances of $73,214 and $57,475, respectively)	75,370	59,025
Customer accounts receivable, net of allowance (includes VIE balances of $393,764 and $324,064, respectively)	673,742	652,769
Other accounts receivable	68,753	67,078
Inventories	219,756	220,034
Income taxes receivable	4,315	407
Prepaid expenses and other current assets	11,445	9,169
Total current assets	1,058,866	1,014,394
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $420,454 and $230,901, respectively)	663,761	686,344
Property and equipment, net	173,031	148,983
Operating Lease, Right-of-Use Asset	242,457	0
Deferred Income Tax Assets, Net	18,599	27,535
Other assets	12,055	7,651
Total assets	2,168,769	1,884,907
Current liabilities:
Current maturities of debt and finance lease obligations (includes VIE balances of $0 and $53,635, respectively)	605	54,109
Accounts payable	48,554	71,118
Accrued compensation and related expenses	10,795	27,052
Accrued expenses	52,295	54,381
Operating Lease, Liability, Current	35,390	0
Income taxes payable	2,394	8,902
Deferred revenues and other credits	12,237	22,006
Total current liabilities	162,270	237,568
Deferred rent	0	93,127
Operating Lease, Liability, Noncurrent	329,081	0
Long-term debt and finance lease obligations (includes VIE balances of $768,121 and $407,993 respectively)	1,025,535	901,222
Other long-term liabilities	24,703	33,015
Total liabilities	1,541,589	1,264,932
Commitments and contingencies
Stockholders’ equity:
Preferred stock ($0.01 par value, 1,000,000 shares authorized; none issued or outstanding)	0	0
Common stock ($0.01 par value, 100,000,000 shares authorized; 32,125,055 and 31,788,162 shares issued, respectively)	321	318
Treasury Stock, Value	(66,290)	0
Additional paid-in capital	122,513	111,185
Retained earnings	570,636	508,472
Total stockholders’ equity	627,180	619,975
Total liabilities and stockholders’ equity	$ 2,168,769	$ 1,884,907

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2020	Jan. 31, 2019
Restricted cash	$ 75,370	$ 59,025
Customer accounts receivable, net of allowance (includes VIE balances of $393,764 and $324,064, respectively)	673,742	652,769
Long-term customer accounts receivable, net	663,761	686,344
Current maturities of debt and financing lease obligations	605	54,109
Long-term debt and financing lease obligations	$ 1,025,535	$ 901,222
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	32,125,055	31,788,162
Treasury Stock, Shares	3,485,441	0
Non-Guarantor Subsidiaries
Restricted cash		$ 57,475
Customer accounts receivable, net of allowance (includes VIE balances of $393,764 and $324,064, respectively)	$ 393,764	324,064
Long-term customer accounts receivable, net	420,454	230,901
Current maturities of debt and financing lease obligations	0	53,635
Long-term debt and financing lease obligations	$ 768,121	$ 407,993

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)	3 Months Ended												9 Months Ended	12 Months Ended
	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Oct. 31, 2019	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Revenues:
Total revenues	$ 412,988,000	$ 376,127,000	$ 401,059,000	$ 353,512,000	$ 432,982,000	$ 373,824,000	$ 384,620,000	$ 358,387,000	$ 420,386,000	$ 373,172,000	$ 366,647,000	$ 355,826,000	$ 1,130,698,000	$ 1,543,686,000	$ 1,549,813,000	$ 1,516,031,000
Other Income		96,005,000											282,535,000	380,451,000	355,139,000	324,064,000
Total Net Sales														1,163,235,000	1,194,674,000	1,191,967,000
Costs and expenses:
Selling, general and administrative expense														503,024,000	480,561,000	450,413,000
Provision for bad debts		45,925,000											135,707,000	205,217,000	198,082,000	216,875,000
Charges and credits														3,142,000	7,780,000	13,331,000
Total costs and expenses														1,409,167,000	1,388,558,000	1,400,963,000
Operating income	23,422,000	30,304,000	41,774,000	39,019,000	53,766,000	35,473,000	39,252,000	32,764,000	44,841,000	20,853,000	29,192,000	20,182,000	111,097,000	134,519,000	161,255,000	115,068,000
Cost of Goods and Services Sold	188,038,000	170,453,000	182,065,000	157,228,000	195,033,000	166,886,000	173,627,000	166,589,000	200,497,000	175,591,000	172,306,000	171,950,000		697,784,000	702,135,000	720,344,000
Interest expense														59,107,000	62,704,000	80,160,000
Loss on extinguishment of debt														1,094,000	1,773,000	3,274,000
Income before income taxes		15,253,000											67,153,000	74,318,000	96,778,000	31,634,000
Provision for income taxes														18,314,000	22,929,000	25,171,000
Net income (loss)	$ 5,052,000	$ 11,469,000	$ 19,974,000	$ 19,509,000	$ 29,476,000	$ 14,630,000	$ 17,011,000	$ 12,732,000	$ 3,201,000	$ 1,569,000	$ 4,273,000	$ (2,580,000)	$ 50,952,000	$ 56,004,000	$ 73,849,000	$ 6,463,000
(Loss) earnings per share:
Basic (in dollars per share)	$ 0.18	$ 0.39	$ 0.64	$ 0.61	$ 0.93	$ 0.46	$ 0.54	$ 0.40	$ 0.10	$ 0.05	$ 0.14	$ (0.08)	$ 1.65	$ 1.85	$ 2.33	$ 0.21
Diluted (in dollars per share)	$ 0.17	$ 0.39	$ 0.62	$ 0.60	$ 0.91	$ 0.45	$ 0.53	$ 0.39	$ 0.10	$ 0.05	$ 0.14	$ (0.08)	$ 1.62	$ 1.82	$ 2.28	$ 0.20
Weighted average common shares outstanding:
Basic (in shares)														30,275,662	31,668,370	31,192,439
Diluted (in shares)														30,814,775	32,374,375	31,777,823
Product [Member]
Revenues:
Total revenues														$ 1,042,424,000	$ 1,078,635,000	$ 1,077,874,000
RSA Commission [Member]
Revenues:
Total revenues														106,997,000	101,928,000	100,383,000
Service [Member]
Revenues:
Total revenues														$ 13,814,000	$ 14,111,000	$ 13,710,000

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock [Member]	Retained Earnings
Balance (in shares) at Jan. 31, 2017		30,961,898
Balance at Jan. 31, 2017	$ 517,790	$ 310	$ 90,276		$ 427,204
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of options and vesting of restricted stock, net of tax (in shares)		415,940
Exercise of options and vesting of restricted stock, net of withholding tax	$ 1,499	$ 3	1,496
Issuance of common stock under Employee Stock Purchase Plan (in shares)	57,937	57,937
Issuance of common stock under Employee Stock Purchase Plan	$ 636	$ 1	635
Stock-based compensation	8,680		8,680
Net income (loss)	6,463				6,463
Balance (in shares) at Jan. 31, 2018		31,435,775
Balance at Jan. 31, 2018	535,068	$ 314	101,087		433,667
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of options and vesting of restricted stock, net of tax (in shares)		317,465
Exercise of options and vesting of restricted stock, net of withholding tax	$ (2,954)	$ 3	(2,957)
Issuance of common stock under Employee Stock Purchase Plan (in shares)	34,922	34,922
Issuance of common stock under Employee Stock Purchase Plan	$ 839	$ 1	838
Stock-based compensation	12,217		12,217
Net income (loss)	73,849				73,849
Balance (in shares) at Jan. 31, 2019		31,788,162.000
Balance at Jan. 31, 2019	619,975	$ 318	111,185		508,472
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	50,952
Balance at Oct. 31, 2019	626,703
Balance (in shares) at Jan. 31, 2019		31,788,162.000
Balance at Jan. 31, 2019	619,975	$ 318	111,185		508,472
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of options and vesting of restricted stock, net of tax (in shares)		283,434
Exercise of options and vesting of restricted stock, net of withholding tax	$ (1,985)	$ 2	(1,987)
Issuance of common stock under Employee Stock Purchase Plan (in shares)	53,459	53,459
Issuance of common stock under Employee Stock Purchase Plan	$ 766	$ 1	765
Stock-based compensation	12,550		12,550
Stock Repurchased During Period, Shares				(3,485,441)
Stock Repurchased During Period, Value	(66,290)			$ (66,290)
Net income (loss)	56,004				56,004
Balance (in shares) at Jan. 31, 2020		32,125,055.000		(3,485,441)
Balance at Jan. 31, 2020	627,180	$ 321	122,513	$ (66,290)	570,636
Balance at Oct. 31, 2019	626,703
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,052
Balance (in shares) at Jan. 31, 2020		32,125,055.000		(3,485,441)
Balance at Jan. 31, 2020	$ 627,180	$ 321	$ 122,513	$ (66,290)	$ 570,636

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Statement of Cash Flows [Abstract]
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 75,296,000	$ 0	$ 0
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	1,110,000	0	0
Cash flows from operating activities:
Net income (loss)	56,004,000	73,849,000	6,463,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	36,841,000	31,584,000	30,806,000
Impairment from disposal	27,577,000	0	0
Amortization of debt issuance costs	9,828,000	10,640,000	16,712,000
Provision for bad debts and uncollectible interest	269,295,000	250,076,000	261,662,000
Stock-based compensation expense	12,550,000	12,217,000	8,680,000
Charges, net of credits	3,142,000	0	1,479,000
Deferred income taxes	7,488,000	(6,224,000)	49,878,000
Loss (gain) from current and deferred sale/disposal of property and equipment	90,000	(809,000)	5,529,000
Tenant improvement allowances received from landlords	25,914,000	16,821,000	7,082,000
Change in operating assets and liabilities:
Customer accounts receivable	(266,997,000)	(300,745,000)	(230,201,000)
Other accounts receivables	(5,346,000)	5,582,000	(2,917,000)
Inventories	278,000	(8,140,000)	(47,038,000)
Other assets	(6,983,000)	20,950,000	(15,474,000)
Accounts payable	(23,041,000)	(499,000)	(31,220,000)
Accrued expenses	(21,689,000)	11,158,000	25,100,000
Increase (Decrease) in Operating Lease Liabilities	(35,816,000)	0	0
Income taxes	(9,930,000)	49,685,000	(30,590,000)
Deferred revenues and other credits	861,000	(14,344,000)	(5,429,000)
Net cash provided by operating activities	80,066,000	151,801,000	50,522,000
Cash flows from investing activities:
Purchases of property and equipment	(57,546,000)	(32,814,000)	(16,918,000)
Proceeds from asset dispositions	724,000	0	0
Net cash used in investing activities	(56,822,000)	(32,814,000)	(16,918,000)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	867,750,000	358,300,000	1,042,034,000
Payments on asset-backed notes	(505,442,000)	(739,875,000)	(1,000,027,000)
Borrowings under revolving credit facility	1,625,440,000	1,836,822,000	1,717,012,000
Payments on revolving credit facility	(1,865,069,000)	(1,647,322,000)	(1,817,512,000)
Borrowings from warehouse facility	0	173,286,000	79,940,000
Payments on warehouse facility	(53,635,000)	(119,650,000)	(79,940,000)
Payments for Repurchase of Common Stock	(66,290,000)	0	0
Payment of debt issuance costs and amendment fees	(7,876,000)	(7,418,000)	(13,874,000)
Proceeds from stock issued under employee benefit plans	988,000	1,237,000	3,318,000
Tax payments associated with equity-based compensation transactions	(2,216,000)	(3,342,000)	(1,182,000)
Payment from extinguishment of debt	0	(1,178,000)	(836,000)
Other	(976,000)	(1,068,000)	(643,000)
Net cash used in financing activities	(7,326,000)	(150,208,000)	(71,710,000)
Net change in cash, cash equivalents and restricted cash	15,918,000	(31,221,000)	(38,106,000)
Cash, cash equivalents and restricted cash, beginning of period	64,937,000	96,158,000	134,264,000
Cash, cash equivalents and restricted cash, end of period	80,855,000	64,937,000	96,158,000
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new financing lease liabilities	0	1,193,000	3,196,000
Property and equipment purchases not yet paid	9,717,000	5,557,000	2,070,000
Supplemental cash flow data:
Cash interest paid	50,491,000	50,568,000	63,713,000
Cash income taxes paid (refunded), net	$ 17,169,000	$ (20,447,000)	$ 3,083,000

Summary of Significant Accounting Policies

12 Months Ended

Jan. 31, 2020

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 subsidiaries. Conn’s is a leading specialty retailer that offers a broad selection of quality, branded durable consumer goods and related services in addition to proprietary credit solutions for its core credit-constrained consumers. We operate an integrated and scalable business through our retail stores and website. Our complementary product offerings include furniture and mattresses, home appliances, consumer electronics and home office products from leading global brands across a wide range of price points. Our credit offering provides financing solutions to a large, under-served population of credit-constrained consumers who typically have limited credit alternatives.

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

The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and prevailing industry practices.

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. 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 6, Debt and Financing Lease Obligations, and Note 13, Variable Interest Entities, for additional information.

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

Cash and Cash Equivalents. As of January 31, 2020 and 2019, cash and cash equivalents included cash, credit card deposits in transit, and highly liquid debt instruments purchased with a maturity date of three months or less. Credit card deposits in transit included in cash and cash equivalents were $4.0 million and $2.5 million as of January 31, 2020 and 2019, respectively.

Restricted Cash. The restricted cash balance as of January 31, 2020 and 2019 includes $59.7 million and $45.3 million, respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $13.9 million and $12.2 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 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 Consolidated Balance Sheet. Customer accounts receivable include the net of unamortized deferred fees charged to customers and origination costs. Customer receivables are considered delinquent if a payment has not been received on the scheduled due date. Accounts that are delinquent more than 209 days as of the end of a month are charged-off against the allowance for doubtful accounts along with interest accrued subsequent to the last payment.

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

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 January 31, 2020 and 2019, there were $10.6 million and $11.2 million, respectively, of deferred interest included in deferred revenues and other credits and other long-term liabilities. The deferred interest will ultimately be brought into income as the accounts pay off or charge-off.

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

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

We place accounts in non-accrual status when legally required. Payments received on non-accrual loans will be applied to principal and reduce the balance of the loan. At January 31, 2020 and 2019, the carrying value of customer accounts receivable in non-accrual status was $12.5 million and $13.9 million, respectively. At January 31, 2020 and 2019, the carrying value of customer accounts receivable that were past due 90 days or more and still accruing interest totaled $132.7 million and $106.5 million, respectively. At January 31, 2020 and January 31, 2019, the carrying value of customer accounts receivable in a bankruptcy status that were less than 60 days past due of $12.1 million and $12.0 million, respectively, were included within the customer receivables balance carried in non-accrual status.

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 accounts receivable portfolio balance consists of a large number of relatively small, homogeneous accounts. None of our accounts are large enough to warrant individual evaluation for impairment.

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 and repair service agreement (“RSA”) policies are also considered. During the year, we shortened the lookback period used to estimate post-charge-off recoveries for customer balances from a cumulative average collection rate to a 24 month average collection rate. The 24 month lookback period is consistent with the lookback period used elsewhere in the allowance for bad debt calculation and is more closely aligned with current collections practices.

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. At January 31, 2020, we made a qualitative adjustment related to changes in the nature of the portfolio of $4.0 million. The qualitative adjustment primarily related to the impact of the performance of certain re-aged accounts.

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.

Inventories. Inventories consist of merchandise purchased for resale and service parts and are recorded at the lower of cost or net realizable value. The carrying value of the inventory is reduced to its net realizable value for any product lines with excess of carrying amount, typically weighted-average cost, over the amount we expect to realize from the ultimate sale or other disposition of the inventory, with a corresponding charge to cost of sales. The write-down of inventory to net realizable value is estimated based on assumptions regarding inventory aging and historical product sales.

Vendor Allowances. We receive funds from vendors for price protection, product rebates (earned upon purchase or sale of product), marketing, and promotion programs, collectively referred to as vendor allowances, which are recorded on an accrual basis. We estimate the vendor allowances to accrue based on the progress of satisfying the terms of the programs based on actual and projected sales or purchase of qualifying products. If the programs are related to product purchases, the vendor allowances are recorded as a reduction of product cost in inventory still on hand with any remaining amounts recorded as a reduction of cost of goods sold. During the years ended January 31, 2020, 2019 and 2018, we recorded $156.6 million, $143.3 million and $153.0 million, respectively, as reductions in cost of goods sold from vendor allowances.

Property and Equipment. Property and equipment, including any major additions and improvements to property and equipment, are recorded at cost. Normal repairs and maintenance that do not materially extend the life of property and equipment are expensed as incurred. Depreciation, which includes amortization of financed leases, is computed using the straight-line method over the estimated useful lives of the assets, or in the case of leasehold improvements, over the shorter of the estimated useful lives or the remaining terms of the leases.

Internal-Use Software Costs. Costs related to software developed or obtained for internal use and cloud-based computing arrangements are expensed as incurred until the application development stage has been reached. Once the application development stage has been reached, certain qualifying costs are capitalized until the software is ready for its intended use. Costs incurred during the post implementation stage are expensed as incurred. Once placed into service, capitalized costs are amortized over periods of up to 10 years. For the year ended January 31, 2020, we incurred a $1.2 million loss on impairments of software costs for a loan management system that was abandoned during fiscal year 2020. No software costs were written-off in the year ended January 31, 2019. For the year ended January 31, 2018, we incurred a $5.9 million loss from the write-off of previously capitalized costs for a software project that was abandoned during fiscal year 2018. See Note 4, Charges and Credits, for further details regarding both the fiscal year 2020 and fiscal year 2018 write-offs.

Impairment of Long-Lived Assets. Long-lived assets are evaluated for impairment, primarily at the retail store level. We monitor store performance in order to assess if events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The most likely condition that would necessitate an assessment would be an adverse change in historical and estimated future results of a retail store’s performance. For property and equipment held and used, we recognize an impairment loss if the carrying amount is not recoverable through its undiscounted cash flows and measure the impairment loss based on the difference between the carrying amount and estimated fair value. During the year ended January 31, 2020, we recognized $3.2 million in impairments from the exiting of certain leases. See Note 4, Charges and Credits, for details. For the years ended January 31, 2019 and 2018, no impairment charges were recorded.

Debt Issuance Costs. Costs that are direct and incremental to debt issuance are deferred and amortized to interest expense using the effective interest method over the expected life of the debt. All other costs related to debt issuance are expensed as incurred. We present debt issuance costs associated with long-term debt as a reduction of the carrying amount of the debt. Unamortized costs related to the Revolving Credit Facility, as defined in Note 6, Debt and Financing Lease Obligations, are included in other assets on our Consolidated Balance Sheet and were $3.5 million and $6.1 million as of January 31, 2020 and 2019, respectively.

Revenue Recognition. 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 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 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 year ended January 31, 2018.

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 financier. 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 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 also may serve as the administrator of the RSAs sold and defer 5% of the revenue received from the sale of RSAs as compensation for this performance obligation 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 obligation 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 delivery 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 5, Finance Charges and Other Revenues, and Note 14, Segment Information, 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 consists of deferred customer deposits and deferred RSA administration fees. During the twelve months ended January 31, 2020, we recognized $1.0 million of revenue for customer deposits deferred as of the beginning of the period compared to $1.8 million recognized during the twelve months ended January 31, 2019. During the twelve months ended January 31, 2020, we recognized $5.1 million of revenue for RSA administrative fees deferred as of the beginning of the period compared to $5.4 million recognized during the twelve months ended January 31, 2019.

Expense Classifications. We record as cost of goods sold, the direct cost of products and parts sold and related costs for delivery, transportation and handling, inbound freight, receiving, inspection, and other costs associated with the operations of our distribution system, including occupancy related to our warehousing operations. The costs associated with our merchandising, advertising, sales commissions, and all store occupancy costs, are included in selling, general and administrative expense (“SG&A”).

Advertising Costs. Advertising costs are expensed as incurred. For fiscal years 2020, 2019 and 2018, advertising expense was $84.8 million, $80.5 million and $86.8 million, respectively.

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. For grants of performance-based restricted stock units, the fair value of the grant is the market value of our stock at the date of issuance adjusted for a market condition, a performance condition and a service condition.

Self-insurance. We are self-insured for certain losses relating to group health, workers’ compensation, automobile, general and product liability claims. We have stop-loss coverage to limit the exposure arising from these claims. Self-insurance losses for claims filed and claims incurred, but not reported, are accrued based upon our estimates of the net aggregate liability for claims incurred using development factors based on historical experience.

Income Taxes. We are subject to U.S. federal income tax as well as income tax in multiple state jurisdictions. We follow the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on temporary differences between GAAP and tax bases of assets and liabilities and for operating loss and tax credit carryforwards, as measured using the enacted tax rates expected to be in effect when the temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period in which the enactment occurs. A valuation allowance is provided when it is more-likely-than-not that some portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become realizable. To the extent penalties and interest are incurred, we record these charges as a component of our provision for income taxes.

We review and update our tax positions as necessary to add any new uncertain tax positions taken, or to remove previously identified uncertain positions that have been adequately resolved. Additionally, uncertain positions may be remeasured as warranted by changes in facts or law. Accounting for uncertain tax positions requires estimating the amount, timing and likelihood of ultimate settlement.

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



	Year Ended January 31,
	2020	2019	2018
Weighted-average common shares outstanding - Basic	30,275,662	31,668,370	31,192,439
Dilutive effect of stock options, RSUs and PSUs	539,113	706,005	585,384
Weighted-average common shares outstanding - Diluted	30,814,775	32,374,375	31,777,823

For the years ended January 31, 2020, 2019 and 2018, the weighted-average number of stock options, RSUs, and PSUs not included in the calculation due to their anti-dilutive effect, was 898,449, 578,951 and 278,740, respectively.

Contingencies. An estimated loss from a contingency is recorded if it is probable that an asset has been impaired or a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Gain contingencies are not recorded until realization is assured beyond a reasonable doubt. Legal costs related to loss contingencies are expensed as incurred.

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


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

•

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


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

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

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

The fair value of cash and cash equivalents, restricted cash and accounts payable approximate their carrying amounts because of the short maturity of these instruments. The fair value of customer accounts receivable, determined using a Level 3 discounted cash flow analysis, approximates their carrying value, net of the allowance for doubtful accounts. The fair value of our Revolving Credit Facility approximates carrying value based on the current borrowing rate for similar types of borrowing arrangements. At January 31, 2020, the fair value of the Senior Notes outstanding, which was determined using Level 1 inputs, was $224.7 million as compared to the carrying value of $227.0 million, excluding the impact of the related discount. At January 31, 2020, 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 February 2016 the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize assets and liabilities for most leases. Effective February 1, 2019, the Company adopted ASU 2016-02 using the modified retrospective approach. For most leases, a liability was 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 recognize a single lease cost on a straight line basis. Other leases are required to be accounted for as financing arrangements similar to how we previously accounted for capital leases. Upon adoption we elected a package of practical expedients permitted under the transition guidance within the new standard. The practical expedients adopted allowed us to carry forward the historical lease classification, allowed us to not separate and allocate the consideration paid between lease and non-lease components included within a contract and allowed us to carry forward our accounting treatment for land easements on existing agreements. We also adopted an optional transition method finalized by the FASB in July 2018 that waives the requirement to apply this ASU in the comparative periods presented within the financial statements in the year of adoption. Therefore, results for reporting periods beginning after February 1, 2019 are presented under ASC Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historic accounting policies under ASC Topic 840.

Additionally, we have elected the short-term policy election for the Company for any lease that, at the commencement date, has a lease term of twelve months or less. We will not recognize a lease liability or right-of-use asset on the balance sheet for any of our short-term leases. Rather, the short-term lease payments will be recognized as an expense on a straight-line basis over the lease term. The current period short-term lease expense reasonably reflects our short-term lease commitments.

The cumulative effect of the changes made to the Company’s Condensed Consolidated Balance Sheet as a result of the adoption of ASC 842 were as follows (in thousands):



	Impact of Adoption of ASC 842
(in thousands)	Balance at January 31, 2019		Adjustments due to ASC 842			Balance at February 1, 2019
Assets
Current assets ⁽¹⁾	$	1,014,394	$	(2,983	)	$	1,011,411
Operating lease right-of-use assets ⁽²⁾	—		227,421			227,421
Deferred income taxes ⁽³⁾	27,535		(1,447		)	26,088
Liabilities
Current liabilities ⁽⁴⁾	237,568		(12,426		)	225,142
Operating lease liability - current ⁽⁵⁾	—		29,815			29,815
Deferred rent ⁽⁴⁾	93,127		(93,127		)	—
Operating lease liability - non-current ⁽⁵⁾	—		300,170			300,170
Other long-term liabilities ⁽³⁾	33,015		(7,606		)	25,409
Stockholder’s equity ⁽³⁾	619,975		6,160			626,135


(1)	Reclassification of the $3.0 million January 31, 2019 balance of accounts receivable for tenant improvement allowances to a reduction in the operating lease liability.


(2)	The operating lease right-of-use assets represent the present value of the lease liability offset by the full value of deferred rent and tenant improvement allowances received from the lessor which had not been utilized as of the date of adoption.


(3)	A net cumulative-effect adjustment to increase retained earnings by $6.2 million to recognize the $7.6 million January 31, 2019 balance of deferred gains which resulted from sale and operating leaseback transactions made at off-market terms offset by the $1.4 million impact on our deferred tax asset related to the sale-leaseback transactions.


(4)	Reclassification of the full value of deferred rent and tenant improvement allowances received from lessors, which were previously recorded as liabilities as they had not been utilized as of the date of adoption, to a reduction of the operating lease right-of-use assets.


(5)	The operating lease liability represents the $340.5 million present value of future operating lease obligations as of January 31, 2019, offset by $10.5 million of accounts receivable for tenant improvement allowances.

Cloud Computing Arrangements. In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. ASU 2018-15 requires companies to apply the accounting guidance as prescribed by ASC 350- 40, Internal Use Software, in determining which cloud-based implementation costs should be capitalized as assets or expensed as incurred. The internal-use software guidance requires the capitalization of certain costs incurred during the application development stage of an internal-use software project, while requiring companies to expense all costs incurred during preliminary project and post-implementation project stages. The standard may be applied either prospectively to all implementation costs incurred after the adoption date or retrospectively. ASU 2018-15 is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted. The Company elected to early adopt ASU 2018-15 on a prospective basis effective February 1, 2019. Costs eligible for capitalization will be capitalized within prepaid expenses and other assets and expensed through operating expenses in the consolidated balance sheets and statements of operations, respectively. Prior to adoption, eligible costs were capitalized within property and equipment and expensed through depreciation. As of January 31, 2020, there was $8.5 million in capitalized cloud-based implementation costs included on the balance sheet.

Recent Accounting Pronouncements Yet To Be Adopted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (CECL). 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. This is a change from the current incurred loss model. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. ASU 2019-04 requires that the current estimate of recoveries is included in the allowance for credit losses. The standards will become effective for us in the first quarter of fiscal year 2021, under a modified retrospective approach. Any changes in reserves will be recorded in retained earnings as of the beginning of the reporting period of adoption as a cumulative-effect adjustment. We performed a scoping analysis of our balance sheet to determine which accounts would be impacted by the new standard. Based on this review, it was determined that aside from the customer accounts receivable balance, no other financial statement line items would be materially impacted by CECL.

We have formed a cross-functional working group comprised of individuals from various functional areas including credit, finance, accounting, and information technology to oversee our CECL implementation. We have developed a model based on our historical gross charge-off history, adjusted for expected recoveries and run the existing portfolio through preliminary simulations, which incorporated portfolio composition and economic expectations as of February 1, 2020. The results of those preliminary simulations indicate that our reserves for credit losses could increase between 40-60% upon implementation of ASU 2016-13. This projected increase is primarily driven by the required change from incurred to lifetime expected losses. However, we continue to refine and validate our model through review of key assumptions and parallel testing against both our current incurred loss model and a challenger model. These parallel runs will continue through fiscal year 2021. The ultimate impact on the date of adoption will depend on the size and composition of our portfolio, the portfolio’s credit quality and economic conditions at the time of adoption, in addition to refinements to our model, methodology and key assumptions.

We have established formal policies supporting the accounting, controls and additional disclosures around the ASU 2016-13 implementation.

Customer Accounts Receivable

12 Months Ended

Jan. 31, 2020

Receivables [Abstract]

Customer Account Receivable

Customer Accounts Receivable

Customer accounts receivable consisted of the following:



(in thousands)	January 31, 2020			January 31, 2019
Customer accounts receivable portfolio balance	$	1,602,037		$	1,589,828
Deferred fees and origination costs, net	(15,746		)	(16,579		)
Allowance for no-interest option credit programs	(14,984		)	(19,257		)
Allowance for uncollectible interest	(23,662		)	(15,555		)
Carrying value of customer accounts receivable	1,547,645			1,538,437
Allowance for bad debts	(210,142		)	(199,324		)
Carrying value of customer accounts receivable, net of allowance for bad debts	1,337,503			1,339,113
Short-term portion of customer accounts receivable, net	$	(673,742	)	$	(652,769	)
Long-term customer accounts receivable, net	$	663,761		$	686,344



	Carrying Value
(in thousands)	January 31, 2020		January 31, 2019
Customer accounts receivable 60+ days past due ⁽¹⁾	$	193,797	$	146,188
Re-aged customer accounts receivable ^(2)(3)(4)	455,704		395,576
Restructured customer accounts receivable ⁽⁵⁾	211,857		183,641


(1)	As of January 31, 2020 and 2019, the carrying value of customer accounts receivable past due one day or greater was $527.0 million and $420.9 million, respectively. These amounts include the 60+ days past due balances shown above.


(2)	The re-aged carrying value as of January 31, 2020 and 2019 includes $131.4 million and $92.4 million in carrying value that are both 60+ days past due and re-aged.


(3)	The re-aged carrying value as of January 31, 2020 and 2019 includes $9.2 million and $26.5 million in first time re-ages related to customers within FEMA-designated Hurricane Harvey disaster areas.


(4)	The re-aged carrying value as of January 31, 2020 includes $6.9 million in first time re-ages related to customers within FEMA-designated Tropical Storm Imelda disaster areas.


(5)	The restructured carrying value as of January 31, 2020 and 2019 includes $64.8 million and $43.9 million in carrying value that are both 60+ days past due and restructured.

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



	January 31, 2020
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	147,123		$	67,756		$	214,879
Provision ⁽¹⁾	177,250			91,356			268,606
Principal charge-offs ⁽²⁾	(158,773		)	(63,074		)	(221,847		)
Interest charge-offs	(37,850		)	(15,037		)	(52,887		)
Recoveries ⁽²⁾	17,930			7,123			25,053
Allowance at end of period	$	145,680		$	88,124		$	233,804
Average total customer portfolio balance	$	1,367,260		$	200,618		$	1,567,878



	January 31, 2019
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	148,856		$	54,716		$	203,572
Provision ⁽¹⁾	174,552			74,514			249,066
Principal charge-offs ⁽²⁾	(157,789		)	(55,024		)	(212,813		)
Interest charge-offs	(32,432		)	(11,310		)	(43,742		)
Recoveries ⁽²⁾	13,936			4,860			18,796
Allowance at end of period	$	147,123		$	67,756		$	214,879
Average total customer portfolio balance	$	1,355,011		$	171,717		$	1,526,728



	January 31, 2018
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	158,992		$	51,183		$	210,175
Provision ⁽¹⁾	189,786			71,047			260,833
Principal charge-offs ⁽²⁾	(177,682		)	(60,003		)	(237,685		)
Interest charge-offs	(30,379		)	(10,259		)	(40,638		)
Recoveries ⁽²⁾	8,139			2,748			10,887
Allowance at end of period	$	148,856		$	54,716		$	203,572
Average total customer portfolio balance	$	1,357,455		$	143,245		$	1,500,700


(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 the principal amount collected during the period for previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries.

- 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

Property and Equipment

12 Months Ended

Jan. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:



	Estimated	January 31,
(dollars in thousands)	Useful Lives	2020			2019
Land	—	$	1,644		$	4,130
Buildings	30 years	4,115			1,748
Leasehold improvements	5 to 15 years	285,524			246,404
Equipment and fixtures	3 to 5 years	92,634			78,562
Finance/Capital leases	3 to 20 years	8,032			9,646
Construction in progress	—	8,846			9,696
		400,795			350,186
Less accumulated depreciation		(227,764		)	(201,203		)
		$	173,031		$	148,983

Depreciation expense was approximately $36.8 million, $31.6 million and $30.8 million for the years ended January 31, 2020, 2019 and 2018, respectively. Construction in progress is comprised primarily of the construction of leasehold improvements related to unopened retail stores and internal-use software under development. Finance lease assets primarily include retail locations.

Charges and Credits

12 Months Ended

Jan. 31, 2020

Charges and Credits [Abstract]

Charges and Credits

Charges and credits consisted of the following:



	Year Ended January 31,
(in thousands)	2020		2019		2018
Store and facility closure and relocation costs	$	1,933	$	—	$	2,381
Legal and professional fees and related reserves associated with the exploration of strategic alternatives, securities-related litigation, a legal judgment and other legal matters	—		5,100		1,177
Indirect tax audit reserve	—		1,943		2,595
Employee severance and executive management transition costs	—		737		1,317
Write-off of capitalized software costs	1,209		—		5,861
	$	3,142	$	7,780	$	13,331

During the year ended January 31, 2020, we recognized $3.2 million in impairments from the exiting of certain leases upon the relocation of three distribution centers into one facility. These facility closure costs were offset by a $0.7 million gain from increased sublease income related to the consolidation of our corporate headquarters and a $0.6 million gain from the sale of a cross-dock. In addition, we recognized $1.2 million in impairments of software costs for a loan management system that was abandoned during the third quarter of fiscal year 2020 related to the implementation of a new loan management system. During the year ended January 31, 2019, we recorded a contingency reserve related to a regulatory matter, a charge related to an increase in our indirect tax audit reserve, severance costs related to a change in the executive management team and costs related to a judgment in favor of TF LoanCo (“TFL”) requiring Conn’s to pay approximately $4.8 million to TFL related to a breach of contract lawsuit brought by the Company. During the year ended January 31, 2018, we incurred exit costs associated with reducing the square footage of a distribution center and consolidating our corporate headquarters, severance costs related to a change in the executive management team, a charge related to an increase in our indirect tax audit reserve, a loss from the write-off of previously capitalized costs for a software project that was abandoned during fiscal year 2018 related to the implementation of a new point of sale system that began in fiscal year 2013, and contingency reserves related to legal matters.

Finance Charges and Other Revenues

12 Months Ended

Jan. 31, 2020

Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]

Finance Charges and Other Revenue

Finance Charges and Other Revenues

Finance charges and other revenues consisted of the following:



	Year Ended January 31,
(in thousands)	2020		2019		2018
Interest income and fees	$	341,224	$	325,136	$	289,005
Insurance income	38,417		29,556		34,718
Other revenues	810		447		341
Total finance charges and other revenues	$	380,451	$	355,139	$	324,064

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.

For the years ended January 31, 2020, 2019 and 2018, interest income and fees reflected provisions for uncollectible interest of $64.1 million, $52.0 million and $44.8 million, respectively. The amount included in interest income and fees related to TDR accounts for the years ended January 31, 2020, 2019 and 2018 is $35.3 million, $27.2 million and $19.3 million, respectively.

Debt and Capital Lease Obligations

12 Months Ended

Jan. 31, 2020

Debt Disclosure [Abstract]

Debt and Capital Lease Obligations

Debt and Financing Lease Obligations

Debt and finance lease obligations consisted of the following:



	January 31,
(in thousands)	2020			2019
Revolving Credit Facility	$	29,100		$	266,500
Senior Notes	227,000			227,000
2017-B VIE Asset-backed Class B Notes	—			98,297
2017-B VIE Asset-backed Class C Notes	59,655			78,640
2018-A VIE Asset-backed Class A Notes	34,112			105,971
2018-A VIE Asset-backed Class B Notes	20,572			63,908
2018-A VIE Asset-backed Class C Notes	20,572			63,908
2019-A VIE Asset-backed Class A Notes	76,241			—
2019-A VIE Asset-backed Class B Notes	64,750			—
2019-A VIE Asset-backed Class C Notes	62,510			—
2019-B VIE Asset-backed Class A Notes	265,810			—
2019-B VIE Asset-backed Class B Notes	85,540			—
2019-B VIE Asset-backed Class C Notes	83,270			—
Warehouse Notes	—			53,635
Financing lease obligations	5,209			5,075
Total debt and financing lease obligations	1,034,341			962,934
Less:
Discount on debt	(1,404		)	(1,966		)
Deferred debt issuance costs	(6,797		)	(5,637		)
Current maturities of long-term debt and financing lease obligations	(605		)	(54,109		)
Long-term debt and financing lease obligations	$	1,025,535		$	901,222

Future maturities of debt, excluding financing lease obligations, as of January 31, 2020 are as follows:



(in thousands)
Year Ended January 31,
2021	$	—
2022	—
2023	391,011
2024	203,501
2025	434,620
Total	$	1,029,132

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

The Indenture restricts the Company’s and certain of its subsidiaries’ ability to: (i) incur indebtedness; (ii) pay dividends or make other distributions in respect of, or repurchase or redeem, our capital stock (“restricted payments”); (iii) prepay, redeem or repurchase debt that is junior in right of payment to the notes; (iv) make loans and certain investments; (v) sell assets; (vi) incur liens; (vii) enter into transactions with affiliates; and (viii) consolidate, merge or sell all or substantially all of our assets. These covenants are subject to a number of important exceptions and qualifications. During any time when the Senior Notes are rated investment grade by either of Moody’s Investors Service, Inc. or Standard & Poor’s Ratings Services and no default (as defined in the Indenture) has occurred and is continuing, many of such covenants will be suspended and we will cease to be subject to such covenants during such period. As of January 31, 2020, $190.1 million would have been free from the restricted payments covenant contained in the Indenture. Events of default under the Indenture include customary events, such as a cross-acceleration provision in the event that we fail to make payment of other indebtedness prior to the expiration of any applicable grace period or upon acceleration of indebtedness prior to its stated maturity date in an amount exceeding $25.0 million, as well as in the event a judgment is entered against us in excess of $25.0 million that is not discharged, bonded or insured.

Asset-backed Notes. From time to time, we securitize customer accounts receivables by transferring the receivables to various bankruptcy-remote VIEs. In turn, the VIEs issue asset-backed notes secured by the transferred customer accounts receivables and restricted cash held by the VIEs.

Under the terms of the securitization transactions, all cash collections and other cash proceeds of the customer receivables go first to the servicer and the holders of issued notes, and then to us as the holder of non-issued notes, if any, and residual equity. We retain the servicing of the securitized portfolios and receive a monthly fee of 4.75% (annualized) based on the outstanding balance of the securitized receivables. In addition, we, rather than the VIEs, retain all credit insurance income together with certain recoveries related to credit insurance and 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. If an event of default were to occur under the indenture that governs the respective asset-backed notes, the payment of the outstanding amounts may be accelerated, in which event the cash proceeds of the receivables that otherwise might be released to the residual equity holder would instead be directed entirely toward repayment of the asset-backed notes, or if the receivables are liquidated, all liquidation proceeds could be directed solely to repayment of the asset-backed notes as governed by the respective terms of the asset-backed notes. The holders of the asset-backed notes have no recourse to assets outside of the VIEs. Events of default include, but are not limited to, failure to make required payments on the asset-backed notes or specified bankruptcy-related events.

The asset-backed notes outstanding as of January 31, 2020 consisted of the following:



Asset-Backed Notes	Original Principal Amount		Original Net Proceeds ⁽¹⁾		Current Principal Amount		Issuance Date	Maturity Date	Contractual Interest Rate	Effective Interest Rate ⁽²⁾
2017-B Class C Notes	$	78,640	$	77,843	$	59,655	12/20/2017	11/15/2022	5.95%	6.40%
2018-A Class A Notes	219,200		217,832		34,112		8/15/2018	1/17/2023	3.25%	4.82%
2018-A Class B Notes	69,550		69,020		20,572		8/15/2018	1/17/2023	4.65%	5.61%
2018-A Class C Notes	69,550		68,850		20,572		8/15/2018	1/17/2023	6.02%	6.98%
2019-A Class A Notes	254,530		253,026		76,241		4/24/2019	10/16/2023	3.40%	4.85%
2019-A Class B Notes	64,750		64,276		64,750		4/24/2019	10/16/2023	4.36%	5.14%
2019-A Class C Notes	62,510		61,898		62,510		4/24/2019	10/16/2023	5.29%	6.10%
2019-B Class A Notes	317,150		315,417		265,810		11/26/2019	6/17/2024	2.66%	3.63%
2019-B Class B Notes	85,540		84,916		85,540		11/26/2019	6/17/2024	3.62%	4.19%
2019-B Class C Notes	83,270		82,456		83,270		11/26/2019	6/17/2024	4.60%	5.17%
Total	$	1,304,690	$	1,295,534	$	773,032


(1)	After giving effect to debt issuance costs.


(2)	For the year ended January 31, 2020, and inclusive of the impact of changes in timing of actual and expected cash flows.

On November 26, 2019, the Company completed the issuance and sale of asset-backed notes at a face amount of $486.0 million secured by the transferred customer accounts receivables and restricted cash held by a VIE, which resulted in net proceeds to us of $482.8 million, net of debt issuance costs. Net proceeds from the offering were used to repay indebtedness under the Company’s Revolving Credit Facility, as defined below, and for other general corporate purposes. The asset-backed notes mature on June 17, 2024 and consist of $317.2 million of 2.66% Asset Backed Fixed Rate Notes, Class A, Series 2019-B, $85.5 million of 3.62% Asset Backed Fixed Rate Notes, Class B, Series 2019-B and $83.3 million of 4.60% Asset Backed Fixed Rate Notes, Class C, Series 2019-B.

On April 24, 2019, the Company completed the issuance and sale of asset-backed notes at a face amount of $381.8 million secured by the transferred customer accounts receivables and restricted cash held by a VIE, which resulted in net proceeds to us of $379.2 million, net of debt issuance costs. Net proceeds from the offering were used to repay indebtedness under the Company’s Revolving Credit Facility, as defined below, and for other general corporate purposes. The asset-backed notes mature on October 16, 2023 and consist of $254.5 million of 3.40% Asset Backed Fixed Rate Notes, Class A, Series 2019-A, $64.8 million of 4.36% Asset Backed Fixed Rate Notes, Class B, Series 2019-A and $62.5 million of 5.29% Asset Backed Fixed Rate Notes, Class C, Series 2019-A.

Revolving Credit Facility. On May 23, 2018, Conn’s, Inc. and certain of its subsidiaries (the “Borrowers”) entered into the Fourth Amended and Restated Loan and Security Agreement (the “Fourth Amendment”), dated as of October 30, 2015, with certain lenders, which provides for a $650.0 million asset-based revolving credit facility (as amended, the “Revolving Credit Facility”) under which credit availability is subject to a borrowing base and a maturity date of May 23, 2022.

Loans under the Revolving Credit Facility bear interest, at our option, at a rate equal to LIBOR plus the applicable margin ranging from 2.50% to 3.25% per annum (depending on a pricing grid determined by our total leverage ratio) or the alternate base rate plus a margin ranging from 1.50% to 2.25% per annum (depending on a pricing grid determined by our total leverage ratio). The alternate base rate is the greatest of the prime rate, the federal funds effective rate plus 0.5%, or LIBOR for a 30-day interest period plus 1.0%. We also pay an unused fee on the portion of the commitments that is available for future borrowings or letters of credit at a rate ranging from 0.25% to 0.50% per annum, depending on the average outstanding balance and letters of credit of the Revolving Credit Facility in the immediately preceding quarter. The weighted-average interest rate on borrowings outstanding and including unused line fees under the Revolving Credit Facility was 6.4% for the year ended January 31, 2020.

The Revolving Credit Facility provides funding based on a borrowing base calculation that includes customer accounts receivable and inventory, and provides for a $40.0 million sub-facility for letters of credit to support obligations incurred in the ordinary course of business. The obligations under the Revolving Credit Facility are secured by substantially all assets of the Company, excluding the assets of the VIEs. As of January 31, 2020, we had immediately available borrowing capacity of $416.8 million under our Revolving Credit Facility, net of standby letters of credit issued of $2.5 million. We also had $201.6 million that may become available under our Revolving Credit Facility if we grow the balance of eligible customer receivables and total eligible inventory balances. On March 18, 2020, the Company completed the borrowing of an additional $275.0 million under its $650.0 million Revolving Credit Facility, maturing in May 23, 2022. See Note 18, Subsequent Events, for additional details.

The Revolving Credit Facility places restrictions on our ability to incur additional indebtedness, grant liens on assets, make distributions on equity interests, dispose of assets, make loans, pay other indebtedness, engage in mergers, and other matters. The Revolving Credit Facility restricts our ability to make dividends and distributions unless no event of default exists and a liquidity test is satisfied. Subsidiaries of the Company may pay dividends and make distributions to the Company and other obligors under the Revolving Credit Facility without restriction. As of January 31, 2020, we were restricted from making distributions, including repayments of the Senior Notes or other distributions, in excess of $308.6 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 at January 31, 2020. A summary of the significant financial covenants that govern our Revolving Credit Facility compared to our actual compliance status at January 31, 2020 is presented below:



	Actual	Required Minimum/ Maximum
Interest Coverage Ratio for the quarter must equal or exceed minimum	3.29:1.00	1.00:1.00
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	3.34:1.00	1.50:1.00
Leverage Ratio must not exceed maximum	1.98:1.00	4.00:1.00
ABS Excluded Leverage Ratio must not exceed maximum	0.85:1.00	2.00:1.00
Capital Expenditures, net, must not exceed maximum	$32.4 million	$100.0 million

All capitalized terms in the above table are defined by the Revolving Credit Facility and may or may not agree directly to the financial statement captions in this document. The covenants are calculated quarterly, except for capital expenditures, which is calculated for a period of four consecutive fiscal quarters, as of the end of each fiscal quarter.

Income Taxes

12 Months Ended

Jan. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes


	Income Taxes

Deferred tax assets and liabilities consisted of the following:



	January 31,
(in thousands)	2020			2019
Deferred tax assets:
Allowance for doubtful accounts	$	18,642		$	22,637
Deferred rent	—			6,200
Deferred gains on sale-leaseback transactions	—			1,447
Deferred revenue	807			908
Indirect tax reserve	3,039			3,025
Inventories	1,796			1,711
Lease liability	81,241			—
Stock-based compensation	1,982			1,825
State net operating loss carryforwards	904			1,127
Other	2,614			3,093
Total deferred tax assets	111,025			41,973
Deferred tax liabilities:
Right-of-use asset	(54,492		)	—
Vendor prepayments	(1,147		)	(1,066		)
Sales tax receivable	(4,842		)	(4,155		)
Property and equipment	(31,627		)	(8,694		)
Other	(318		)	(523		)
Total deferred tax liabilities	(92,426		)	(14,438		)
Net deferred tax asset	$	18,599		$	27,535

Our state net operating loss carryforwards begin to expire starting with fiscal year 2028. Realization of our deferred tax asset ultimately depends on the existence of sufficient taxable income, which may include future taxable income and tax planning strategies. Based on the weight of available evidence at January 31, 2020, we believe that it is more likely than not that we will generate sufficient taxable income to utilize our entire deferred tax asset prior to its expiration.

Provision for income taxes consisted of the following:



	Year Ended January 31,
(in thousands)	2020			2019			2018
Current:
Federal	$	9,215		$	29,919		$	(25,891	)
State	1,611			2,308			1,184
Total current	10,826			32,227			(24,707		)
Deferred:
Federal	7,590			(9,419		)	49,536
State	(102		)	121			342
Total deferred	7,488			(9,298		)	49,878
Provision for income taxes	$	18,314		$	22,929		$	25,171

A reconciliation of the provision (benefit) for income taxes at the U.S. federal statutory tax rate and the total tax provision for each of the periods presented in the statements of operations follows:



	Year Ended January 31,
(in thousands)	2020			2019			2018
Income tax provision at U.S. federal statutory rate ⁽¹⁾	$	15,607		$	20,323		$	10,696
State income taxes, net of federal benefit	2,011			2,068			1,910
Tax Act and other deferred tax adjustments	(910		)	—			13,387
Provision to return adjustments	—			—			(1,142		)
Employee benefits	1,873			1,096			—
Other	(267		)	(558		)	320
Provision for income taxes	$	18,314		$	22,929		$	25,171


(1)	As a result of H.R. 1 originally known as the Tax Cuts and Jobs Act (the “Tax Act”), the Company recorded a $0.3 million current income tax benefit in the fourth quarter of fiscal year 2018 as a result of using a 33.81% blended statutory rate for fiscal year 2018 instead of the prior statutory rate of 35%.

Federal tax returns for fiscal years subsequent to January 31, 2016, remain subject to examination. Generally, state tax returns for fiscal years subsequent to January 31, 2016 remain subject to examination.

Changes in the balance of unrecognized tax benefits, including interest and penalties on uncertain tax positions, were as follows:



	Year Ended January 31,
(in thousands)	2020			2019			2018
Balance at February 1	$	(11,625	)	$	—		$	—
Increases related to prior year tax positions	—			(12,084		)	—
Decreases related to prior year tax positions	241			459			—
Balance at January 31	$	(11,384	)	$	(11,625	)	$	—

As of January 31, 2020 and 2019, there are $3.5 million and $3.5 million, respectively of unrecognized tax benefits that if recognized would favorably affect the Company’s annual effective tax rate.

The Company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes. During the years ended January 31, 2020 and 2019, the Company recognized interest and penalties of approximately $0.7 million and $0.1 million, respectively.

Leases

12 Months Ended

Jan. 31, 2020

Leases, Operating [Abstract]

Lessee, Operating Leases [Text Block]

Leases

We lease most of our current store locations and certain of our facilities and operating equipment under operating leases. The fixed, non-cancelable terms of our real estate leases are generally five to fifteen years and generally include renewal options that allow us to extend the term beyond the initial non-cancelable term. However, prior to the expiration of the existing contract, the Company will typically renegotiate any lease contracts as opposed to continuing in the current lease under the renewal terms. As such, the lease renewal options are not recognized as part of the right-of-use assets and liabilities. Most of the real estate leases require payment of real estate taxes, insurance and certain common area maintenance costs in addition to future minimum lease payments. Equipment leases generally provide for initial lease terms of three to five years and provide for a purchase right at the end of the lease term at the then fair market value of the equipment.

Certain operating leases contain tenant allowance provisions, which obligate the landlord to remit cash to us as an incentive to enter into the lease agreement. We record the full amount to be remitted by the landlord as a reduction to the operating lease right-of-use assets upon commencement of the lease and amortize the balance on a straight-line basis over the life of the lease.

Supplemental lease information is summarized below:



		January 31,
(in thousands)	Balance sheet classification	2020
Assets
Operating lease assets	Operating lease right-of-use assets	$	242,457
Finance lease assets	Property and equipment, net	5,028
Total leased assets		$	247,485
Liabilities
Operating ⁽¹⁾	Operating lease liability - current	$	47,118
Finance	Current maturities of debt and finance lease obligations	605
Operating	Operating lease liability - non current	329,081
Finance	Long-term debt and finance lease obligations	4,604
Total lease liabilities		$	381,408


(1)	Represents the gross operating lease liability before tenant improvement allowances. As of January 31, 2020, we had $11.7 million of tenant improvement allowances to be remitted by the landlord.



Lease Cost		Year Ended January 31,
(in thousands)	Income statement classification	2020
Operating lease costs ⁽¹⁾	Selling, general and administrative expense	$	57,501
Impairment of ROU asset	Charges and credits	1,933
Total operating lease cost		$	59,434


(1)	Includes short-term and variable lease costs, which are not significant.

Operating lease right-of-use assets (“ROU Assets”) and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.

Operating lease ROU Assets are regularly reviewed for impairment under the long-lived assets impairment guidance in ASC Subtopic 360-10, Property, Plant, and Equipment - Overall. For the years ended January 31, 2020, we recognized $1.9 million of impairments of ROU Assets on the consolidated statement of operations from the exiting of certain leases upon relocation of three of our distribution centers into one facility. See Note 4, Charges and Credits, for additional details.

Additional details regarding the Company’s leasing activities as a lessee are presented below:



Other Information	Year Ended January 31,
(dollars in thousands)	2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	69,829
Weighted-average remaining lease term (in years)
Finance leases	11.2
Operating leases	7.1
Weighted-average discount rate
Finance leases	6.1		%
Operating leases ⁽¹⁾	8.3		%


(1)	Upon adoption of ASC 842, discount rates for existing operating leases were established as of February 1, 2019.

For the years ended January 31, 2020, 2019 and 2018, total rent expense was $58.1 million, $52.7 million and $51.4 million, respectively.

The following table presents a summary of our minimum contractual commitments and obligations as of January 31, 2020:



(in thousands)	Operating Leases		Finance Leases		Total
Year ending January 31,
2021	$	75,906	$	916	$	76,822
2022	75,660		916		76,576
2023	73,880		661		74,541
2024	68,519		831		69,350
2025	58,024		551		58,575
Thereafter	147,181		3,448		150,629
Total undiscounted cash flows	499,170		7,323		506,493
Less: Interest	122,971		2,114		125,085
Total lease liabilities	$	376,199	$	5,209	$	381,408

Leases

Supplemental lease information is summarized below:



		January 31,
(in thousands)	Balance sheet classification	2020
Assets
Operating lease assets	Operating lease right-of-use assets	$	242,457
Finance lease assets	Property and equipment, net	5,028
Total leased assets		$	247,485
Liabilities
Operating ⁽¹⁾	Operating lease liability - current	$	47,118
Finance	Current maturities of debt and finance lease obligations	605
Operating	Operating lease liability - non current	329,081
Finance	Long-term debt and finance lease obligations	4,604
Total lease liabilities		$	381,408


(1)	Represents the gross operating lease liability before tenant improvement allowances. As of January 31, 2020, we had $11.7 million of tenant improvement allowances to be remitted by the landlord.



Lease Cost		Year Ended January 31,
(in thousands)	Income statement classification	2020
Operating lease costs ⁽¹⁾	Selling, general and administrative expense	$	57,501
Impairment of ROU asset	Charges and credits	1,933
Total operating lease cost		$	59,434


(1)	Includes short-term and variable lease costs, which are not significant.

Additional details regarding the Company’s leasing activities as a lessee are presented below:



Other Information	Year Ended January 31,
(dollars in thousands)	2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	69,829
Weighted-average remaining lease term (in years)
Finance leases	11.2
Operating leases	7.1
Weighted-average discount rate
Finance leases	6.1		%
Operating leases ⁽¹⁾	8.3		%


(1)	Upon adoption of ASC 842, discount rates for existing operating leases were established as of February 1, 2019.

For the years ended January 31, 2020, 2019 and 2018, total rent expense was $58.1 million, $52.7 million and $51.4 million, respectively.

The following table presents a summary of our minimum contractual commitments and obligations as of January 31, 2020:



(in thousands)	Operating Leases		Finance Leases		Total
Year ending January 31,
2021	$	75,906	$	916	$	76,822
2022	75,660		916		76,576
2023	73,880		661		74,541
2024	68,519		831		69,350
2025	58,024		551		58,575
Thereafter	147,181		3,448		150,629
Total undiscounted cash flows	499,170		7,323		506,493
Less: Interest	122,971		2,114		125,085
Total lease liabilities	$	376,199	$	5,209	$	381,408

Stock-Based Compensation

12 Months Ended

Jan. 31, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

On May 25, 2016, our stockholders approved the Conn’s, Inc. 2016 Omnibus Incentive Plan (“2016 Plan”), which replaced our 2011 Omnibus Incentive Plan (“2011 Plan”) and our Amended and Restated 2003 Incentive Stock Option Plan (“2003 Plan”). The 2016 Plan, as originally adopted, provided for 1,200,000 shares of Company common stock available for issuance. Shares subject to an award under the 2016 Plan, the 2011 Plan or the 2003 Plan that lapse, expire, are forfeited or terminated, or are settled in cash will again become available for future grant under the 2016 Plan. Shares will not become available for future grant under the 2016 Plan if delivered or withheld to pay withholding taxes or the exercise price of an option or repurchased on the open market with the proceeds of an option exercise. On May 31, 2017, our shareholders approved an amendment to the 2016 Plan authorizing an additional 1,400,000 shares of Company common stock for awards. During fiscal year 2020, 795,998 shares forfeited under the 2003 Plan and 2011 Plan were determined to be available under the 2016 Plan for future issuance. This includes 790,161 shares forfeited in prior fiscal years but determined to be available under the 2016 Plan.

Our 2016 Plan is an equity-based compensation plan that allows for the grant of a variety of awards, including stock options, restricted stock awards, RSUs, PSUs, stock appreciation rights and performance and cash awards. Awards are generally granted once per year, with the amount and type of awards determined by the Compensation Committee of our Board of Directors (the “Committee”). Stock options, RSUs and PSUs are subject to early termination provisions but generally vest over a period of four years from the date of grant. Stock options under the various plans are issued with exercise prices equal to the market value on the date of the grant and, typically, expire ten years after the date of grant.

In the event of a change in control of the Company, as defined in the 2016 Plan, the Board of Directors of the Company (“Board of Directors”) may cause some or all outstanding awards to fully or partially vest, either upon the change in control or upon a subsequent termination of employment or service, and may provide that any applicable performance criteria be deemed satisfied at the target or any other level. The Board of Directors may also cause outstanding awards to terminate in exchange for a cash or stock payment or to be substituted or assumed by the surviving corporation.

We also continue to maintain the 2003 Non-Employee Director Stock Option Plan and 2011 Non-Employee Director Restricted Stock Plan.

As of January 31, 2020, shares authorized for future issuance were: 1,396,632 under the 2016 Plan (which includes 795,998 shares from the 2003 Plan and 2011 Plan that were forfeited); 120,000 under the 2003 Non-Employee Director Stock Option Plan; and 48,991 under the 2011 Non-Employee Director Restricted Stock Plan.

Stock-Based Compensation Expense. Total stock-based compensation expense, recognized primarily in SG&A, from stock-based compensation consisted of the following:



	Year Ended January 31,
(in thousands)	2020		2019		2018
Stock options	$	3,978	$	3,414	$	236
RSUs and PSUs	8,316		8,540		7,622
Employee stock purchase plan	256		263		220
Accelerated RSU expense charged to severance	—		—		602
	$	12,550	$	12,217	$	8,680

During the years ended January 31, 2020, 2019, and 2018, we recognized tax benefits related to stock-based compensation of $1.4 million, $1.7 million and $1.7 million, respectively. As of January 31, 2020, the total unrecognized compensation cost related to all unvested stock-based compensation awards was $13.2 million and is expected to be recognized over a weighted-average period of 1.9 years. The total fair value of RSUs and stock options vested during fiscal years 2020, 2019 and 2018 was $8.4 million, $12.6 million and $6.0 million, respectively, based on the market price at the vesting date.

Stock Options. No stock options were awarded during fiscal year 2020 or 2018. During fiscal year 2019, 620,166 stock options were awarded with an exercise price of $32.35 per share. The stock options awarded vest in equal installments three and four years from the date of grant and expire ten years from the date of grant. The fair values of the stock options at grant date ranged from $20.00 to $21.67 per share. The fair values of the stock option awards were determined using the Black-Scholes option pricing model. The weighted-average assumptions for the option awards granted in fiscal year 2019 included expected volatility of 68%, an expected term of six to seven years and risk-free interest rate of 2.69%. No dividend yield was included in the weighted-average assumptions for the options awards granted in fiscal year 2019.

The following table summarizes the activity for outstanding stock options:



	Shares Under Option		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life
Outstanding, January 31, 2019	772,731		$	28.49
Granted	—		$	—
Exercised	(24,340	)	$	9.11
Forfeited and expired	(4,200	)	$	4.84
Outstanding, January 31, 2020	744,191		$	29.73	7.7
Vested and expected to vest, January 31, 2020	744,191		$	29.73	7.7
Exercisable, January 31, 2020	99,023		$	16.03	5.3

During the years ended January 31, 2020, 2019 and 2018, the total intrinsic value of stock options exercised was $0.4 million, $0.4 million and $2.3 million, respectively. The aggregate intrinsic value of stock options outstanding, vested and expected to vest and exercisable at January 31, 2020 was approximately $0.1 million. The total fair value of common stock options vested during fiscal years 2020, 2019 and 2018 was $0.3 million, $0.5 million and $0.9 million, respectively, based on the market price at the vesting date.

Restricted Stock Units. The restricted stock program consists of a combination of PSUs and RSUs. The number of PSUs issued under the program is dependent upon a measurement of earnings before interest, taxes, depreciation and amortization (“EBITDA”) target for the period identified in the grant, which is three years. In the event EBITDA exceeds the respective predefined target, shares for up to a maximum of 150% of the target award may be granted. In the event the EBITDA falls below the respective predefined target, a reduced number of shares may be granted. If the EBITDA falls below the respective threshold performance level, no shares will be granted. PSUs vest on predetermined schedules, which occur over three years. RSUs vest on a straight-line basis over their term, which is generally three to five years.

The following table summarizes the activity for RSUs and PSUs:



	Time-Based RSUs				Performance-Based RSUs
	Number of Units		Weighted-Average Grant Date Fair Value		Number of Units		Weighted-Average Grant Date Fair Value		Total Number of Units
Balance, January 31, 2019	884,275		$	18.73	467,000		$	11.66	1,351,275
Granted	108,588		$	19.68	33,894		$	23.39	142,482
Vested and converted to common stock	(369,839	)	$	16.99	—		$	—	(369,839	)
Forfeited	(34,201	)	$	20.05	(7,000	)	$	11.60	(41,201	)
Balance, January 31, 2020	588,823		$	19.92	493,894		$	12.47	1,082,717

The total fair value of restricted and performance shares vested during fiscal years 2020, 2019 and 2018 was $8.1 million, $12.1 million, and $5.1 million, respectively, based on the market price at the vesting date. The total fair value of restricted and performance shares granted during fiscal years 2020, 2019 and 2018 was $2.9 million, $7.6 million and $17.2 million, respectively.

Employee Stock Purchase Plan. Our Employee Stock Purchase Plan is available to our employees, subject to minimum employment conditions and maximum compensation limitations. At the end of each calendar quarter, employee contributions are used to acquire shares of common stock at 85% of the lower of the fair market value of the common stock on the first or last day of the calendar quarter. During the years ended January 31, 2020, 2019 and 2018, we issued 53,459, 34,922 and 57,937 shares of common stock, respectively, to employees participating in the plan, leaving 718,263 shares remaining reserved for future issuance under the plan as of January 31, 2020.

Significant Vendors

12 Months Ended

Jan. 31, 2020

Significant Vendors [Abstract]

Significant Vendors

As shown in the table below, a significant portion of our merchandise purchases were made from six vendors:



	Year Ended January 31,
	2020		2019		2018
Vendor A	33.6	%	25.3	%	27.6	%
Vendor B	16.3		16.1		14.8
Vendor C	11.0		7.0		6.5
Vendor D	9.6		6.7		5.3
Vendor E	9.5		5.2		4.1
Vendor F	5.7		5.0		3.8
	85.7	%	65.3	%	62.1	%

The vendors shown above represent the top six vendors with the highest volume in each period shown. The same vendor may not necessarily be represented in all periods presented.

Defined Contribution Plan	12 Months Ended
Defined Contribution Plan	Jan. 31, 2020
Retirement Benefits [Abstract]
Defined Contribution Plan	Defined Contribution Plan We have established a defined contribution 401(k) plan for eligible employees. Employees may contribute up to 50% of their eligible pretax compensation to the plan and we match 100% of the first 3% of the employees’ contributions and an additional 50% of the next 2% of the employees’ contributions. At our option, we may make supplemental contributions to the plan, but have not made such supplemental contributions in the past three years. The matching contributions made by us totaled $1.9 million, $1.4 million and $1.1 million during the years ended January 31, 2020, 2019 and 2018, respectively.

Contingencies	12 Months Ended
Contingencies	Jan. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Securities Litigation. On April 2, 2018, MicroCapital Fund, LP, MicroCapital Fund, Ltd., and MicroCapital LLC (collectively, “MicroCapital”) filed a lawsuit against us and certain of our former executive officers in the U.S. District Court for the Southern District of Texas, Cause No. 4:18-CV-01020 (the “MicroCapital Action”). The plaintiffs in this action allege that the defendants made false and misleading statements or failed to disclose material facts about our credit and underwriting practices, accounting and internal controls. Plaintiffs allege violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, Texas and Connecticut common law fraud, and Texas common law negligent misrepresentation against all defendants; as well as violations of section 20A of the Securities Exchange Act of 1934; and Connecticut common law negligent misrepresentation against certain defendants arising from plaintiffs’ purchase of Conn’s, Inc. securities between April 3, 2013 and February 20, 2014. The complaint does not specify the amount of damages sought. The Court previously had stayed the MicroCapital Action pending resolution of other outstanding litigation (In re Conn’s Inc. Sec. Litig., Cause No. 14-CV-00548 (S.D. Tex.) (the “Consolidated Securities Action”)), which was settled in October 2018. After that settlement, the stay was lifted, and the defendants filed a motion to dismiss plaintiff’s complaint in the MicroCapital Action on November 6, 2018. Briefing on the motion to dismiss was completed on January 16, 2019. On July 26, 2019, the magistrate judge to which defendants’ motion to dismiss had been assigned issued a report and recommendation, recommending that defendants’ motion to dismiss the complaint be granted in part and denied in part. Both parties filed timely objections to that report and recommendation on August 9, 2019. On September 25, 2019, the district court adopted the magistrate judge’s report and recommendation, which permitted MicroCapital to file an amended complaint, which MicroCapital filed on October 30, 2019. On November 8, 2019, the parties filed a joint discovery and case management plan, proposing various deadlines. Defendants filed their answer to the amended complaint on November 27, 2019. The parties are currently engaging in discovery. We intend to vigorously defend our interests in the MicroCapital Action. It is not possible at this time to predict the timing or outcome of this litigation, and we cannot reasonably estimate the possible loss or range of possible loss from these claims. Derivative Litigation. On December 1, 2014, an alleged shareholder, purportedly on behalf of the Company, filed a derivative shareholder lawsuit against us and certain of our current and former directors and former executive officers in the U.S. District Court for the Southern District of Texas, captioned as Robert Hack, derivatively on behalf of Conn’s, Inc., v. Theodore M. Wright (former executive officer and former director), Bob L. Martin, Jon E.M. Jacoby (former director), Kelly M. Malson, Douglas H. Martin, David Schofman, Scott L. Thompson (former director), Brian Taylor (former executive officer) and Michael J. Poppe (former executive officer) and Conn’s, Inc., Case No. 4:14-cv-03442 (the “Original Derivative Action”). The complaint asserts claims for breach of fiduciary duty, unjust enrichment, gross mismanagement, and insider trading based on substantially similar factual allegations as those asserted in the Consolidated Securities Action. The plaintiff seeks unspecified damages against these persons and does not request any damages from 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 U.S. District Court for the Southern District of Texas, which has been consolidated with the Original Derivative Action. The Court previously approved a stipulation among the parties to stay the Original Derivative Action pending resolution of the Consolidated Securities Action. The stay was lifted on November 1, 2018, and the defendants filed a motion to dismiss plaintiff’s complaint. Briefing on the motion to dismiss was completed December 3, 2018, and the parties began engaging in discovery. On May 29, 2019, the magistrate judge, to which defendants’ motion to dismiss had been assigned, issued a report and recommendation, recommending that defendants’ motion to dismiss the complaint be granted, but recommended that the plaintiff be permitted to replead his claims. The district court adopted the recommendation on July 5, 2019. On July 19, 2019, plaintiff filed an amended complaint. On August 13, 2019, the magistrate judge issued a new scheduling order, which permitted defendants to file a motion to dismiss the amended complaint on demand-futility grounds. That briefing was completed on October 15, 2019. On November 1, 2019, the magistrate judge heard argument on the motion to dismiss and postponed certain deadlines. On February 7, 2020, the judge issued a new scheduling order, again postponing deadlines and removing a trial date from the schedule. The motion to dismiss remains pending. As ordered by the court, the parties are engaging in discovery while the motion to dismiss is pending. Another derivative action was filed on January 27, 2015, captioned as Richard A. Dohn v. Wright, et al., Cause No. 2015-04405, in the 281st Judicial District Court, Harris County, Texas. This action makes substantially similar allegations to the Original Derivative Action against the same defendants. We received a copy of the proposed amended petition on October 12, 2018, but the proposed amended petition has not yet been filed. The parties jointly requested a stay on this case pending resolution of the Original Derivative Action. This case remains stayed until at least June 19, 2020. Prior to filing a lawsuit, an alleged shareholder, Robert J. Casey II (“Casey”), submitted a demand under Delaware law, which our Board of Directors refused. On May 19, 2016, Casey, purportedly on behalf of the Company, filed a lawsuit against us and certain of our current and former directors and former executive officers in the 55th Judicial District Court, Harris County, Texas, captioned as Casey, derivatively on behalf of Conn’s, Inc., v. Theodore M. Wright (former executive officer and former director), Michael J. Poppe (former executive officer), Brian Taylor (former executive officer), Bob L. Martin, Jon E.M. Jacoby (former director), Kelly M. Malson, Douglas H. Martin, David Schofman, Scott L. Thompson (former director) and William E. Saunders Jr., and Conn’s, Inc., Cause No. 2016-33135. The complaint asserts claims for breach of fiduciary duties and unjust enrichment based on substantially similar factual allegations as those asserted in the Original Derivative Action. The complaint does not specify the amount of damages sought. No further activity has occurred in this case since the Final Order and Judgment was entered in the Consolidated Securities Action. Other than Casey, none of the plaintiffs in the other derivative actions made a demand on our Board of Directors prior to filing their respective lawsuits. The defendants in the derivative actions intend to vigorously defend against these claims. It is not possible at this time to predict the timing or outcome of any of this litigation, and we cannot reasonably estimate the possible loss or range of possible loss from these claims. We are involved in other routine litigation and claims incidental to our business from time to time which, individually or in the aggregate, are not expected to have a material adverse effect on us. As required, we accrue estimates of the probable costs for the resolution of these matters. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement strategies. However, the results of these proceedings cannot be predicted with certainty, and changes in facts and circumstances could impact our estimate of reserves for litigation. The Company believes that any probable and reasonably estimable loss associated with the foregoing has been adequately reflected in the accompanying financial statements.

Variable Interest Entities

12 Months Ended

Jan. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

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

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

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



(in thousands)	January 31, 2020			January 31, 2019
Assets:
Restricted cash	$	73,214		$	57,475
Due from (due to) Conn’s, Inc., net	307			5,504
Customer accounts receivable:
Customer accounts receivable	838,210			538,826
Restructured accounts	147,971			135,834
Allowance for uncollectible accounts	(151,263		)	(106,327		)
Allowance for no-interest option credit programs	(12,445		)	(8,047		)
Deferred fees and origination costs	(8,255		)	(5,321		)
Total customer accounts receivable, net	814,218			554,965
Total assets	$	887,739		$	617,944
Liabilities:
Accrued expenses	$	5,517		$	3,939
Other liabilities	7,584			5,513
Short-term debt:
Warehouse Notes	—			53,635

Long-term debt:
2017-B Class B Notes	—			98,297
2017-B Class C Notes	59,655			78,640
2018-A Class A Notes	34,112			105,971
2018-A Class B Notes	20,572			63,908
2018-A Class C Notes	20,572			63,908
2019-A Class A Notes	76,241			—
2019-A Class B Notes	64,750			—
2019-A Class C Notes	62,510			—
2019-B Class A Notes	265,810			—
2019-B Class B Notes	85,540			—
2019-B Class C Notes	83,270			—
	773,032			410,724
Less deferred debt issuance costs	(4,911		)	(2,731		)
Total long-term debt	768,121			407,993
Total debt	768,121			461,628
Total liabilities	$	781,222		$	471,080

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

Segment Information

12 Months Ended

Jan. 31, 2020

Segment Reporting [Abstract]

Segment Information

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

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

As of January 31, 2020, we operated retail stores in 14 states with no operations outside of the United States. No single customer accounts for more than 10% of our total revenues.

Financial information by segment is presented in the following tables:



	Year Ended January 31, 2020
(in thousands)	Retail		Credit			Total
Revenues:
Furniture and mattress	$	370,931	$	—		$	370,931
Home appliance	360,441		—			360,441
Consumer electronics	221,449		—			221,449
Home office	73,074		—			73,074
Other	16,529		—			16,529
Product sales	1,042,424		—			1,042,424
Repair service agreement commissions	106,997		—			106,997
Service revenues	13,814		—			13,814
Total net sales	1,163,235		—			1,163,235
Finance charges and other revenues	810		379,641			380,451
Total revenues	1,164,045		379,641			1,543,686
Costs and expenses:
Cost of goods sold	697,784		—			697,784
Selling, general and administrative expense ⁽¹⁾	346,108		156,916			503,024
Provision for bad debts	905		204,312			205,217
Charges and credits	1,933		1,209			3,142
Total costs and expenses	1,046,730		362,437			1,409,167
Operating income	117,315		17,204			134,519
Interest expense	—		59,107			59,107
Loss on extinguishment of debt	—		1,094			1,094
Income (loss) before income taxes	$	117,315	$	(42,997	)	$	74,318
Additional Disclosures:
Property and equipment additions	$	62,244	$	200		$	62,444
Depreciation expense	$	35,783	$	1,058		$	36,841
	January 31, 2020
(in thousands)	Retail		Credit			Total
Total assets	$	641,812	$	1,526,957		$	2,168,769



	Year Ended January 31, 2019
(in thousands)	Retail		Credit			Total
Revenues:
Furniture and mattress	$	382,975	$	—		$	382,975
Home appliance	332,609		—			332,609
Consumer electronics	262,088		—			262,088
Home office	86,260		—			86,260
Other	14,703		—			14,703
Product sales	1,078,635		—			1,078,635
Repair service agreement commissions	101,928		—			101,928
Service revenues	14,111		—			14,111
Total net sales	1,194,674		—			1,194,674
Finance charges and other revenues	447		354,692			355,139
Total revenues	1,195,121		354,692			1,549,813
Costs and expenses:
Cost of goods sold	702,135		—			702,135
Selling, general and administrative expense ⁽¹⁾	328,628		151,933			480,561
Provision for bad debts	1,009		197,073			198,082
Charges and credits	2,980		4,800			7,780
Total costs and expenses	1,034,752		353,806			1,388,558
Operating income	160,369		886			161,255
Interest expense	—		62,704			62,704
Loss on extinguishment of debt	—		1,773			1,773
Income (loss) before income taxes	$	160,369	$	(63,591	)	$	96,778
Additional Disclosures:
Property and equipment additions	$	36,110	$	1,384		$	37,494
Depreciation expense	$	30,739	$	845		$	31,584
	January 31, 2019
(in thousands)	Retail		Credit			Total
Total assets	$	405,542	$	1,479,365		$	1,884,907



	Year Ended January 31, 2018
(in thousands)	Retail		Credit			Total
Revenues:
Furniture and mattress	$	393,853	$	—		$	393,853
Home appliance	337,538		—			337,538
Consumer electronics	248,727		—			248,727
Home office	80,330		—			80,330
Other	17,426		—			17,426
Product sales	1,077,874		—			1,077,874
Repair service agreement commissions	100,383		—			100,383
Service revenues	13,710		—			13,710
Total net sales	1,191,967		—			1,191,967
Finance charges and other revenues	341		323,723			324,064
Total revenues	1,192,308		323,723			1,516,031
Costs and expenses:
Cost of goods sold	720,344		—			720,344
Selling, general and administrative expense ⁽¹⁾	316,325		134,088			450,413
Provision for bad debts	829		216,046			216,875
Charges and credits	13,331		—			13,331
Total costs and expenses	1,050,829		350,134			1,400,963
Operating income (loss)	141,479		(26,411		)	115,068
Interest expense	—		80,160			80,160
Loss on extinguishment of debt	—		3,274			3,274
Income (loss) before income taxes	$	141,479	$	(109,845	)	$	31,634
Additional Disclosures:
Property and equipment additions	$	21,285	$	42		$	21,327
Depreciation expense	$	30,065	$	741		$	30,806
	January 31, 2018
(in thousands)	Retail		Credit			Total
Total assets	$	344,327	$	1,556,472		$	1,900,799


(1)	For the years ended January 31, 2020, 2019 and 2018, the amount of overhead allocated to each segment reflected in SG&A was $30.0 million, $36.4 million and $27.6 million, respectively. For the years ended January 31, 2020, 2019 and 2018, the amount of reimbursement made to the retail segment by the credit segment was $39.1 million, $38.1 million and $37.4 million, respectively.

Guarantor Financial Information

12 Months Ended

Jan. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Statements [Text Block]

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 January 31, 2020 and 2019, 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 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 January 31, 2020 and 2019 (after the elimination of intercompany balances and transactions).

Consolidated Balance Sheets as of January 31, 2020



(in thousands)	Conn’s, Inc.		Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	5,485	$	—	$	—		$	5,485
Restricted cash	—		2,156		73,214		—			75,370
Customer accounts receivable, net of allowances	—		279,978		393,764		—			673,742
Other accounts receivable	—		68,753		—		—			68,753
Inventories	—		219,756		—		—			219,756
Other current assets	—		19,452		307		(3,999		)	15,760
Total current assets	—		595,580		467,285		(3,999		)	1,058,866
Investment in and advances to subsidiaries	832,980		106,517		—		(939,497		)	—
Long-term portion of customer accounts receivable, net of allowance	—		243,307		420,454		—			663,761
Property and equipment, net	—		173,031		—		—			173,031
Operating lease right-of-use assets	—		242,457		—		—			242,457
Deferred income taxes	18,599		—		—		—			18,599
Other assets	—		12,055		—		—			12,055
Total assets	$	851,579	$	1,372,947	$	887,739	$	(943,496	)	$	2,168,769
Liabilities and Stockholders’ Equity
Current liabilities:
Current maturities of debt and financing lease obligations	$	—	$	605	$	—	$	—		$	605
Accounts payable	—		48,554		—		—			48,554
Accrued expenses	686		60,886		5,517		(3,999		)	63,090
Operating lease liability - current	—		35,390		—		—			35,390
Other current liabilities	—		10,416		4,215		—			14,631
Total current liabilities	686		155,851		9,732		(3,999		)	162,270
Operating lease liability - non current	—		329,081		—		—			329,081
Long-term debt and financing lease obligations	223,713		33,701		768,121		—			1,025,535
Other long-term liabilities	—		21,334		3,369		—			24,703
Total liabilities	224,399		539,967		781,222		(3,999		)	1,541,589
Total stockholders’ equity	627,180		832,980		106,517		(939,497		)	627,180
Total liabilities and stockholders’ equity	$	851,579	$	1,372,947	$	887,739	$	(943,496	)	$	2,168,769

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

Consolidated Statements of Operations for the year ended January 31, 2020



(in thousands)	Conn’s, Inc.			Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	1,163,235	$	—	$	—		$	1,163,235
Finance charges and other revenues	—			219,442		161,009		—			380,451
Servicing fee revenue	—			38,240		—		(38,240		)	—
Total revenues	—			1,420,917		161,009		(38,240		)	1,543,686
Costs and expenses:
Cost of goods sold	—			697,784		—		—			697,784
Selling, general and administrative expense	—			502,398		38,866		(38,240		)	503,024
Provision for bad debts	—			128,230		76,987		—			205,217
Charges and credits	—			3,142		—		—			3,142
Total costs and expenses	—			1,331,554		115,853		(38,240		)	1,409,167
Operating income	—			89,363		45,156		—			134,519
Interest expense	17,777			11,986		29,344		—			59,107
Loss on extinguishment of debt	—			1,094		—		—			1,094
Income (loss) before income taxes	(17,777		)	76,283		15,812		—			74,318
Provision (benefit) for income taxes	(4,381		)	18,798		3,897		—			18,314
Net income (loss)	(13,396		)	57,485		11,915		—			56,004
Income from consolidated subsidiaries	69,399			11,915		—		(81,314		)	—
Consolidated net income	$	56,003		$	69,400	$	11,915	$	(81,314	)	$	56,004

Consolidated Statements of Cash Flows for the year ended January 31, 2020



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(988	)	$	366,536		$	(285,482	)	$	—		$	80,066
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(482,788		)	482,788			—
Sale of customer accounts receivables	—			—			482,788			(482,788		)	—
Purchase of property and equipment	—			(57,546		)	—			—			(57,546		)
Proceeds from asset dispositions	—			724			—			—			724
Investment in subsidiary	—			(66,290		)	—			66,290			—
Net cash used in investing activities	—			(123,112		)	—			66,290			(56,822		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			867,750			—			867,750
Payments on asset-backed notes	—			—			(505,442		)	—			(505,442		)
Borrowings from Revolving Credit Facility	—			1,625,440			—			—			1,625,440
Contribution from subsidiary	66,290			—			—			(66,290		)	—
Payments on Revolving Credit Facility	—			(1,865,069		)	—			—			(1,865,069		)
Payments of debt issuance costs and amendment fees	—			(424		)	(7,452		)	—			(7,876		)
Payments on warehouse facility	—			—			(53,635		)	—			(53,635		)
Proceeds from stock issued under employee benefit plans	988			—			—			—			988
Tax payments associated with equity-based compensation transactions	—			(2,216		)	—			—			(2,216		)
Payment for share repurchases	(66,290		)	—			—			—			(66,290		)
Other	—			(976		)	—			—			(976		)
Net cash provided by (used in) financing activities	988			(243,245		)	301,221			(66,290		)	(7,326		)
Net change in cash, cash equivalents and restricted cash	—			179			15,739			—			15,918
Cash, cash equivalents and restricted cash, beginning of period	—			7,462			57,475			—			64,937
Cash, cash equivalents and restricted cash, end of period	$	—		$	7,641		$	73,214		$	—		$	80,855

Consolidated Balance Sheets as of January 31, 2019



(in thousands)	Conn’s, Inc.		Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	5,912	$	—	$	—		$	5,912
Restricted cash	—		1,550		57,475		—			59,025
Customer accounts receivable, net of allowances	—		328,705		324,064		—			652,769
Other accounts receivable	—		67,078		—		—			67,078
Inventories	—		220,034		—		—			220,034
Other current assets	—		12,344		5,504		(8,272		)	9,576
Total current assets	—		635,623		387,043		(8,272		)	1,014,394
Investment in and advances to subsidiaries	815,524		146,864		—		(962,388		)	—
Long-term portion of customer accounts receivable, net of allowance	—		455,443		230,901		—			686,344
Property and equipment, net	—		148,983		—		—			148,983
Deferred income taxes	27,535		—		—		—			27,535
Other assets	—		7,651		—		—			7,651
Total assets	$	843,059	$	1,394,564	$	617,944	$	(970,660	)	$	1,884,907
Liabilities and Stockholders’ Equity
Current liabilities:
Current maturities of debt and financing lease obligations	$	—	$	474	$	53,635	$	—		$	54,109
Accounts payable	—		71,118		—		—			71,118
Accrued expenses	686		88,478		3,939		(2,768		)	90,335
Other current liabilities	—		24,918		2,592		(5,504		)	22,006
Total current liabilities	686		184,988		60,166		(8,272		)	237,568
Deferred rent	—		93,127		—		—			93,127
Long-term debt and financing lease obligations	222,398		270,831		407,993		—			901,222
Other long-term liabilities	—		30,094		2,921		—			33,015
Total liabilities	223,084		579,040		471,080		(8,272		)	1,264,932
Total stockholders’ equity	619,975		815,524		146,864		(962,388		)	619,975
Total liabilities and stockholders’ equity	$	843,059	$	1,394,564	$	617,944	$	(970,660	)	$	1,884,907

Consolidated Statement of Operations for the year ended January 31, 2019



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	1,194,674		$	—		$	—		$	1,194,674
Finance charges and other revenues	—			193,583			161,556			—			355,139
Servicing fee revenue	—			40,947			—			(40,947		)	—
Total revenues	—			1,429,204			161,556			(40,947		)	1,549,813
Costs and expenses:
Cost of goods sold	—			702,135			—			—			702,135
Selling, general and administrative expense	—			479,995			41,513			(40,947		)	480,561
Provision for bad debts	—			68,056			130,026			—			198,082
Charges and credits	—			7,780			—			—			7,780
Total costs and expenses	—			1,257,966			171,539			(40,947		)	1,388,558
Operating income (loss)	—			171,238			(9,983		)	—			161,255
Interest expense	17,782			12,498			32,424			—			62,704
Loss on extinguishment of debt	—			142			1,631			—			1,773
Income (loss) before income taxes	(17,782		)	158,598			(44,038		)	—			96,778
Provision (benefit) for income taxes	(4,213		)	37,577			(10,435		)	—			22,929
Net income (loss)	(13,569		)	121,021			(33,603		)	—			73,849
Income (loss) from consolidated subsidiaries	87,418			(33,603		)	—			(53,815		)	—
Consolidated net income (loss)	$	73,849		$	87,418		$	(33,603	)	$	(53,815	)	$	73,849

Consolidated Statement of Cash Flows for the year ended January 31, 2019



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(1,237	)	$	18,201		$	134,837		$	—		$	151,801
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(525,846		)	525,846			—
Sale of customer accounts receivables	—			—			525,846			(525,846		)	—
Purchase of property and equipment	—			(32,814		)	—			—			(32,814		)
Net cash used in investing activities	—			(32,814		)	—			—			(32,814		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			358,300			—			358,300
Payments on asset-backed notes	—			(169,443		)	(570,432		)	—			(739,875		)
Borrowings from Revolving Credit Facility	—			1,836,822			—			—			1,836,822
Payments on Revolving Credit Facility	—			(1,647,322		)	—			—			(1,647,322		)
Borrowings from warehouse facility	—			—			173,286			—			173,286
Payments of debt issuance costs and amendment fees	—			(3,230		)	(4,188		)	—			(7,418		)
Payments on warehouse facility	—			—			(119,650		)	—			(119,650		)
Proceeds from stock issued under employee benefit plans	1,237			—			—			—			1,237
Tax payments associated with equity-based compensation transactions	—			(3,342		)	—			—			(3,342		)
Payments from extinguishment of debt	—			(1,178		)	—			—			(1,178		)
Other	—			(1,068		)	—			—			(1,068		)
Net cash provided by (used in) financing activities	1,237			11,239			(162,684		)	—			(150,208		)
Net change in cash, cash equivalents and restricted cash	—			(3,374		)	(27,847		)	—			(31,221		)
Cash, cash equivalents and restricted cash, beginning of period	—			10,836			85,322			—			96,158
Cash, cash equivalents and restricted cash, end of period	$	—		$	7,462		$	57,475		$	—		$	64,937

Consolidated Statement of Operations for the year ended January 31, 2018.



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	1,191,967		$	—		$	—		$	1,191,967
Finance charges and other revenues	—			173,539			150,525			—			324,064
Servicing fee revenue	—			63,372			—			(63,372		)	—
Total revenues	—			1,428,878			150,525			(63,372		)	1,516,031
Costs and expenses:
Cost of goods sold	—			720,344			—			—			720,344
Selling, general and administrative expense	—			460,698			53,087			(63,372		)	450,413
Provision for bad debts	—			42,677			174,198			—			216,875
Charges and credits	—			13,331			—			—			13,331
Total costs and expenses	—			1,237,050			227,285			(63,372		)	1,400,963
Operating income (loss)	—			191,828			(76,760		)	—			115,068
Interest expense	17,772			15,978			46,410			—			80,160
Loss on extinguishment of debt	—			349			2,925			—			3,274
Income (loss) before income taxes	(17,772		)	175,501			(126,095		)	—			31,634
Provision (benefit) for income taxes	(14,141		)	139,647			(100,335		)	—			25,171
Net income (loss)	(3,631		)	35,854			(25,760		)	—			6,463
Income (loss) from consolidated subsidiaries	10,094			(25,760		)	—			15,666			—
Consolidated net income (loss)	$	6,463		$	10,094		$	(25,760	)	$	15,666		$	6,463

Consolidated Statement of Cash Flows for the year ended January 31, 2018.



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(3,318	)	$	(925,182	)	$	979,022		$	—		$	50,522
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(1,112,903		)	1,112,903			—
Sale of customer accounts receivables	—			1,112,903			—			(1,112,903		)	—
Purchase of property and equipment	—			(16,918		)	—			—			(16,918		)
Proceeds from asset dispositions	—			—			—			—			—
Net cash provided by (used in) investing activities	—			1,095,985			(1,112,903		)	—			(16,918		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			1,042,034			—			1,042,034
Payments on asset-backed notes	—			(77,104		)	(922,923		)	—			(1,000,027		)
Borrowings from Revolving Credit Facility	—			1,717,012			—			—			1,717,012
Payments on Revolving Credit Facility	—			(1,817,512		)	—			—			(1,817,512		)
Payments of debt issuance costs and amendment fees	—			(3,268		)	(10,606		)	—			(13,874		)
Proceeds from stock issued under employee benefit plans	3,318			—			—			—			3,318
Tax payments associated with equity-based compensation transactions	—			(1,182		)	—			—			(1,182		)
Payments from extinguishment of debt	—			(836		)	—			—			(836		)
Other	—			(643		)	—			—			(643		)
Net cash provided by (used in) financing activities	3,318			(183,533		)	108,505			—			(71,710		)
Net change in cash, cash equivalents and restricted cash	—			(12,730		)	(25,376		)	—			(38,106		)
Cash, cash equivalents and restricted cash, beginning of period	—			23,566			110,698			—			134,264
Cash, cash equivalents and restricted cash, end of period	$	—		$	10,836		$	85,322		$	—		$	96,158

Condensed Consolidated Statement of Cash Flows

Consolidated Statement of Cash Flows for the year ended January 31, 2019



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(1,237	)	$	18,201		$	134,837		$	—		$	151,801
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(525,846		)	525,846			—
Sale of customer accounts receivables	—			—			525,846			(525,846		)	—
Purchase of property and equipment	—			(32,814		)	—			—			(32,814		)
Net cash used in investing activities	—			(32,814		)	—			—			(32,814		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			358,300			—			358,300
Payments on asset-backed notes	—			(169,443		)	(570,432		)	—			(739,875		)
Borrowings from Revolving Credit Facility	—			1,836,822			—			—			1,836,822
Payments on Revolving Credit Facility	—			(1,647,322		)	—			—			(1,647,322		)
Borrowings from warehouse facility	—			—			173,286			—			173,286
Payments of debt issuance costs and amendment fees	—			(3,230		)	(4,188		)	—			(7,418		)
Payments on warehouse facility	—			—			(119,650		)	—			(119,650		)
Proceeds from stock issued under employee benefit plans	1,237			—			—			—			1,237
Tax payments associated with equity-based compensation transactions	—			(3,342		)	—			—			(3,342		)
Payments from extinguishment of debt	—			(1,178		)	—			—			(1,178		)
Other	—			(1,068		)	—			—			(1,068		)
Net cash provided by (used in) financing activities	1,237			11,239			(162,684		)	—			(150,208		)
Net change in cash, cash equivalents and restricted cash	—			(3,374		)	(27,847		)	—			(31,221		)
Cash, cash equivalents and restricted cash, beginning of period	—			10,836			85,322			—			96,158
Cash, cash equivalents and restricted cash, end of period	$	—		$	7,462		$	57,475		$	—		$	64,937

Consolidated Statement of Cash Flows for the year ended January 31, 2018.



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(3,318	)	$	(925,182	)	$	979,022		$	—		$	50,522
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(1,112,903		)	1,112,903			—
Sale of customer accounts receivables	—			1,112,903			—			(1,112,903		)	—
Purchase of property and equipment	—			(16,918		)	—			—			(16,918		)
Proceeds from asset dispositions	—			—			—			—			—
Net cash provided by (used in) investing activities	—			1,095,985			(1,112,903		)	—			(16,918		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			1,042,034			—			1,042,034
Payments on asset-backed notes	—			(77,104		)	(922,923		)	—			(1,000,027		)
Borrowings from Revolving Credit Facility	—			1,717,012			—			—			1,717,012
Payments on Revolving Credit Facility	—			(1,817,512		)	—			—			(1,817,512		)
Payments of debt issuance costs and amendment fees	—			(3,268		)	(10,606		)	—			(13,874		)
Proceeds from stock issued under employee benefit plans	3,318			—			—			—			3,318
Tax payments associated with equity-based compensation transactions	—			(1,182		)	—			—			(1,182		)
Payments from extinguishment of debt	—			(836		)	—			—			(836		)
Other	—			(643		)	—			—			(643		)
Net cash provided by (used in) financing activities	3,318			(183,533		)	108,505			—			(71,710		)
Net change in cash, cash equivalents and restricted cash	—			(12,730		)	(25,376		)	—			(38,106		)
Cash, cash equivalents and restricted cash, beginning of period	—			23,566			110,698			—			134,264
Cash, cash equivalents and restricted cash, end of period	$	—		$	10,836		$	85,322		$	—		$	96,158

Consolidated Statements of Cash Flows for the year ended January 31, 2020



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(988	)	$	366,536		$	(285,482	)	$	—		$	80,066
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(482,788		)	482,788			—
Sale of customer accounts receivables	—			—			482,788			(482,788		)	—
Purchase of property and equipment	—			(57,546		)	—			—			(57,546		)
Proceeds from asset dispositions	—			724			—			—			724
Investment in subsidiary	—			(66,290		)	—			66,290			—
Net cash used in investing activities	—			(123,112		)	—			66,290			(56,822		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			867,750			—			867,750
Payments on asset-backed notes	—			—			(505,442		)	—			(505,442		)
Borrowings from Revolving Credit Facility	—			1,625,440			—			—			1,625,440
Contribution from subsidiary	66,290			—			—			(66,290		)	—
Payments on Revolving Credit Facility	—			(1,865,069		)	—			—			(1,865,069		)
Payments of debt issuance costs and amendment fees	—			(424		)	(7,452		)	—			(7,876		)
Payments on warehouse facility	—			—			(53,635		)	—			(53,635		)
Proceeds from stock issued under employee benefit plans	988			—			—			—			988
Tax payments associated with equity-based compensation transactions	—			(2,216		)	—			—			(2,216		)
Payment for share repurchases	(66,290		)	—			—			—			(66,290		)
Other	—			(976		)	—			—			(976		)
Net cash provided by (used in) financing activities	988			(243,245		)	301,221			(66,290		)	(7,326		)
Net change in cash, cash equivalents and restricted cash	—			179			15,739			—			15,918
Cash, cash equivalents and restricted cash, beginning of period	—			7,462			57,475			—			64,937
Cash, cash equivalents and restricted cash, end of period	$	—		$	7,641		$	73,214		$	—		$	80,855

Stockholders' Equity (Notes)	12 Months Ended
Stockholders' Equity (Notes)	Jan. 31, 2020
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	16. Stockholders’ Equity Share Repurchases. On May 30, 2019, we entered into a stock repurchase program pursuant to which we had the authorization to repurchase up to $75.0 million of our outstanding common stock. The stock repurchase program expires on May 30, 2020. For the year ended January 31, 2020, we repurchased 3,485,441 shares of our common stock at an average weighted cost per share of $19.02 for an aggregate amount of $66.3 million.

Quarterly Information (Unaudited)

12 Months Ended

Jan. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Information (Unaudited)

The following tables set forth certain quarterly financial data for the years ended January 31, 2020, 2019 and 2018 that have been prepared on a consistent basis as the accompanying audited consolidated financial statements and include all adjustments necessary for a fair presentation, in all material respects, of the information shown:



(dollars in thousands, except per share amounts)	Fiscal Year 2020
	Quarter Ended
	April 30			July 31			Restated October 31 ⁽¹⁾			January 31
Revenues:
Retail Segment	$	262,181		$	306,265		$	280,319		$	315,280
Credit Segment	91,331			94,794			95,808			97,708
Total revenues	$	353,512		$	401,059		$	376,127		$	412,988
Percent of annual revenues	22.9		%	26.0		%	24.4		%	26.7		%
Costs and expenses:
Cost of goods sold	$	157,228		$	182,065		$	170,453		$	188,038
Operating income (loss):
Retail Segment	$	25,897		$	36,072		$	19,598		$	35,748
Credit Segment	13,122			5,702			10,706			(12,326		)
Total operating income	$	39,019		$	41,774		$	30,304		$	23,422
Net income	$	19,509		$	19,974		$	11,469		$	5,052
Income per share
Basic ⁽²⁾	$	0.61		$	0.64		$	0.39		$	0.18
Diluted ⁽²⁾	$	0.60		$	0.62		$	0.39		$	0.17



(dollars in thousands, except per share amounts)	Fiscal Year 2019
	Quarter Ended
	April 30			July 31			October 31			January 31
Revenues:
Retail Segment	$	275,770		$	296,411		$	284,053		$	338,887
Credit Segment	82,617			88,209			89,771			94,095
Total revenues	$	358,387		$	384,620		$	373,824		$	432,982
Percent of annual revenues	23.1		%	24.8		%	24.1		%	28.0		%
Costs and expenses:
Cost of goods sold	$	166,589		$	173,627		$	166,886		$	195,033
Operating income (loss):
Retail Segment	$	31,169		$	39,238		$	35,250		$	54,712
Credit Segment	1,595			14			223			(946		)
Total operating income	$	32,764		$	39,252		$	35,473		$	53,766
Net income	$	12,732		$	17,011		$	14,630		$	29,476
Income per share:
Basic ⁽²⁾	$	0.40		$	0.54		$	0.46		$	0.93
Diluted ⁽²⁾	$	0.39		$	0.53		$	0.45		$	0.91



	Fiscal Year 2018
(dollars in thousands, except per share amounts)	Quarter Ended
(dollars in thousands, except per share amounts)	April 30			July 31			October 31			January 31
Revenues:
Retail Segment	$	279,365		$	286,505		$	291,903		$	334,535
Credit Segment	76,461			80,142			81,269			85,851
Total revenues	$	355,826		$	366,647		$	373,172		$	420,386
Percent of annual revenues	23.5		%	24.2		%	24.6		%	27.7		%
Costs and expenses:
Cost of goods sold	$	171,950		$	172,306		$	175,591		$	200,497
Operating income (loss):
Retail Segment	$	32,011		$	31,299		$	29,586		$	48,583
Credit Segment	(11,829		)	(2,107		)	(8,733		)	(3,742		)
Total operating income	$	20,182		$	29,192		$	20,853		$	44,841
Net income (loss)	$	(2,580	)	$	4,273		$	1,569		$	3,201
Income (loss) per share
Basic ⁽²⁾	$	(0.08	)	$	0.14		$	0.05		$	0.10
Diluted ⁽²⁾	$	(0.08	)	$	0.14		$	0.05		$	0.10


(1)	Quarterly information adjusted for the restatements noted below.


(2)	The sum of the quarterly earnings per share amounts may not equal the fiscal year amount due to rounding and use of weighted-average shares outstanding.

As a result of the operation of the Company’s internal controls over financial reporting in connection with the preparation of this Annual Report on Form 10-K, the Company’s management became aware that the Company’s historical condensed consolidated interim financial statements for the three and nine month periods ended October 31, 2019 (the “Non-Reliance Periods”) contained errors in its calculation and reporting of finance charges and other revenues and provision for bad debts resulting from an error in its allowance for bad debts and uncollectible interest related to the implementation of its new loan management system. The condensed consolidated cash flow statement for the nine month Non-Reliance Period was not impacted by the errors.

The correction of these errors reduces finance charges and other revenues in the condensed consolidated statements of income for the Non-Reliance Periods by $1.6 million and increases provision for bad debts for the Non-Reliance Periods by $3.3 million. Those changes have the following effects on the condensed consolidated balance sheets and the condensed consolidated statement of stockholders’ equity as of the end of the Non-Reliance Periods: customer accounts receivable, net of allowances, decreases by $4.9 million, income taxes receivable increases by $0.9 million and deferred income taxes increases by $0.3 million, resulting in a decrease in each of total assets, total stockholders’ equity and total liabilities and stockholders’ equity of approximately $3.7 million.

The following tables present the effects this restatement had on the reported condensed consolidated interim financial statements for the Non-Reliance Periods:



Statements of Income
(dollars in thousands, except per share amounts)	Three Months Ended October 31, 2019
(dollars in thousands, except per share amounts)	As Previously Reported		Q3 Corrections			Restated
Finance charges and other revenues	$	97,586	$	(1,581	)	$	96,005
Total revenues	377,708		(1,581		)	376,127
Provision for bad debts	42,586		3,339			45,925
Operating income	35,224		(4,920		)	30,304
Income before taxes	20,173		(4,920		)	15,253
Net income	$	15,143	$	(3,674	)	$	11,469
Earnings per share:
Basic	$	0.52	$	(0.13	)	$	0.39
Diluted	$	0.51	$	(0.12	)	$	0.39

	Nine Months Ended October 31, 2019
	As Previously Reported		Q3 Corrections			Restated
Finance charges and other revenues	$	284,116	$	(1,581	)	$	282,535
Total revenues	1,132,279		(1,581		)	1,130,698
Provision for bad debts	132,368		3,339			135,707
Operating income	116,017		(4,920		)	111,097
Income before taxes	72,073		(4,920		)	67,153
Net income	$	54,626	$	(3,674	)	$	50,952
Earnings per share:
Basic	$	1.77	$	(0.12	)	$	1.65
Diluted	$	1.74	$	(0.12	)	$	1.62

Balance Sheet
	October 31, 2019
	As Previously Reported		Q3 Corrections			Restated
Customer accounts receivable, net of allowances	$	666,922	$	(4,920	)	$	662,002
Income taxes receivable	1,688		912			2,600
Total current assets	$	1,047,752	$	(4,008	)	$	1,043,744
Deferred income taxes	22,908		334			23,242
Total assets	$	2,156,825	$	(3,674	)	$	2,153,151
Total stockholders’ equity	$	630,377	$	(3,674	)	$	626,703
Total liabilities and stockholders’ equity	$	2,156,825	$	(3,674	)	$	2,153,151

Subsequent Events

12 Months Ended

Jan. 31, 2020

Subsequent Events [Abstract]

Subsequent Events


18.	Subsequent Events

COVID-19. The COVID-19 outbreak in the United States has resulted in reduced customer traffic and the temporary reduction of operating hours for our stores as well as a limited number of temporary store closures where government mandated. In addition to the impact on store traffic, our credit business could be impacted if customers are unable to make timely payments on their Conn's credit accounts due to job loss, reduction of hours or furlough. These recent developments are expected to result in lower sales and gross margin. The situation is changing daily and there is significant uncertainty going forward.

On March 18, 2020, the Company completed the borrowing of an additional $275.0 million under its $650.0 million Revolving Credit Facility, maturing on May 23, 2022. As of the date of the borrowing, the Company had an immediately available remaining borrowing capacity of approximately $123.0 million under its Revolving Credit Facility. The Company increased its borrowings under the Revolving Credit Facility as a precautionary measure in order to increase its cash position and preserve financial flexibility in light of current uncertainty resulting from the COVID-19 outbreak. The proceeds from the incremental Revolving Credit Facility borrowings are currently being held on the Company’s balance sheet. The proceeds from the incremental Revolving Credit Facility borrowings may in the future be used for working capital, general corporate or other permitted purposes.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jan. 31, 2020

Accounting Policies [Abstract]

Business

The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and prevailing industry practices.

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 Entities

Use of Estimates

Cash and Cash Equivalents

Restricted cash

Customer accounts receivable

Interest Income on Customer Accounts Receivable

Allowance for doubtful accounts

Inventories

Vendor Allowances

Property and Equipment

Internal-Use Software Costs

Impairment of Long-Lived Assets

Debt Issuance Costs

Revenue Recognition

The cumulative effect of the changes made to the Company’s 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 year ended January 31, 2018.

Deferred Revenue

Expense Classifications

Advertising Costs

Advertising Costs. Advertising costs are expensed as incurred. For fiscal years 2020, 2019 and 2018, advertising expense was $84.8 million, $80.5 million and $86.8 million, respectively.

Stock-Based Compensation

Self-insurance

Income Taxes

Earnings per Share



	Year Ended January 31,
	2020	2019	2018
Weighted-average common shares outstanding - Basic	30,275,662	31,668,370	31,192,439
Dilutive effect of stock options, RSUs and PSUs	539,113	706,005	585,384
Weighted-average common shares outstanding - Diluted	30,814,775	32,374,375	31,777,823

Contingencies

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).

New Accounting Pronouncements, Policy [Policy Text Block]

The cumulative effect of the changes made to the Company’s Condensed Consolidated Balance Sheet as a result of the adoption of ASC 842 were as follows (in thousands):



	Impact of Adoption of ASC 842
(in thousands)	Balance at January 31, 2019		Adjustments due to ASC 842			Balance at February 1, 2019
Assets
Current assets ⁽¹⁾	$	1,014,394	$	(2,983	)	$	1,011,411
Operating lease right-of-use assets ⁽²⁾	—		227,421			227,421
Deferred income taxes ⁽³⁾	27,535		(1,447		)	26,088
Liabilities
Current liabilities ⁽⁴⁾	237,568		(12,426		)	225,142
Operating lease liability - current ⁽⁵⁾	—		29,815			29,815
Deferred rent ⁽⁴⁾	93,127		(93,127		)	—
Operating lease liability - non-current ⁽⁵⁾	—		300,170			300,170
Other long-term liabilities ⁽³⁾	33,015		(7,606		)	25,409
Stockholder’s equity ⁽³⁾	619,975		6,160			626,135


(1)	Reclassification of the $3.0 million January 31, 2019 balance of accounts receivable for tenant improvement allowances to a reduction in the operating lease liability.


(2)	The operating lease right-of-use assets represent the present value of the lease liability offset by the full value of deferred rent and tenant improvement allowances received from the lessor which had not been utilized as of the date of adoption.


(3)	A net cumulative-effect adjustment to increase retained earnings by $6.2 million to recognize the $7.6 million January 31, 2019 balance of deferred gains which resulted from sale and operating leaseback transactions made at off-market terms offset by the $1.4 million impact on our deferred tax asset related to the sale-leaseback transactions.


(4)	Reclassification of the full value of deferred rent and tenant improvement allowances received from lessors, which were previously recorded as liabilities as they had not been utilized as of the date of adoption, to a reduction of the operating lease right-of-use assets.


(5)	The operating lease liability represents the $340.5 million present value of future operating lease obligations as of January 31, 2019, offset by $10.5 million of accounts receivable for tenant improvement allowances.

We have established formal policies supporting the accounting, controls and additional disclosures around the ASU 2016-13 implementation.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 31, 2020

Accounting Policies [Abstract]

Shares outstanding for the earnings (loss) per share calculations

The following table sets forth the shares outstanding for the earnings per share calculations:



	Year Ended January 31,
	2020	2019	2018
Weighted-average common shares outstanding - Basic	30,275,662	31,668,370	31,192,439
Dilutive effect of stock options, RSUs and PSUs	539,113	706,005	585,384
Weighted-average common shares outstanding - Diluted	30,814,775	32,374,375	31,777,823

Cumulative effect of the changes for adoption of Topic 842



	Impact of Adoption of ASC 842
(in thousands)	Balance at January 31, 2019		Adjustments due to ASC 842			Balance at February 1, 2019
Assets
Current assets ⁽¹⁾	$	1,014,394	$	(2,983	)	$	1,011,411
Operating lease right-of-use assets ⁽²⁾	—		227,421			227,421
Deferred income taxes ⁽³⁾	27,535		(1,447		)	26,088
Liabilities
Current liabilities ⁽⁴⁾	237,568		(12,426		)	225,142
Operating lease liability - current ⁽⁵⁾	—		29,815			29,815
Deferred rent ⁽⁴⁾	93,127		(93,127		)	—
Operating lease liability - non-current ⁽⁵⁾	—		300,170			300,170
Other long-term liabilities ⁽³⁾	33,015		(7,606		)	25,409
Stockholder’s equity ⁽³⁾	619,975		6,160			626,135

The cumulative effect of the changes made to the Company’s 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

New Accounting Pronouncements, Policy [Policy Text Block]

The cumulative effect of the changes made to the Company’s Condensed Consolidated Balance Sheet as a result of the adoption of ASC 842 were as follows (in thousands):



	Impact of Adoption of ASC 842
(in thousands)	Balance at January 31, 2019		Adjustments due to ASC 842			Balance at February 1, 2019
Assets
Current assets ⁽¹⁾	$	1,014,394	$	(2,983	)	$	1,011,411
Operating lease right-of-use assets ⁽²⁾	—		227,421			227,421
Deferred income taxes ⁽³⁾	27,535		(1,447		)	26,088
Liabilities
Current liabilities ⁽⁴⁾	237,568		(12,426		)	225,142
Operating lease liability - current ⁽⁵⁾	—		29,815			29,815
Deferred rent ⁽⁴⁾	93,127		(93,127		)	—
Operating lease liability - non-current ⁽⁵⁾	—		300,170			300,170
Other long-term liabilities ⁽³⁾	33,015		(7,606		)	25,409
Stockholder’s equity ⁽³⁾	619,975		6,160			626,135


(1)	Reclassification of the $3.0 million January 31, 2019 balance of accounts receivable for tenant improvement allowances to a reduction in the operating lease liability.


(2)	The operating lease right-of-use assets represent the present value of the lease liability offset by the full value of deferred rent and tenant improvement allowances received from the lessor which had not been utilized as of the date of adoption.


(3)	A net cumulative-effect adjustment to increase retained earnings by $6.2 million to recognize the $7.6 million January 31, 2019 balance of deferred gains which resulted from sale and operating leaseback transactions made at off-market terms offset by the $1.4 million impact on our deferred tax asset related to the sale-leaseback transactions.


(4)	Reclassification of the full value of deferred rent and tenant improvement allowances received from lessors, which were previously recorded as liabilities as they had not been utilized as of the date of adoption, to a reduction of the operating lease right-of-use assets.


(5)	The operating lease liability represents the $340.5 million present value of future operating lease obligations as of January 31, 2019, offset by $10.5 million of accounts receivable for tenant improvement allowances.

We have established formal policies supporting the accounting, controls and additional disclosures around the ASU 2016-13 implementation.

Customer Accounts Receivable (Tables)

12 Months Ended

Jan. 31, 2020

Receivables [Abstract]

Schedule of customer accounts receivable

Customer accounts receivable consisted of the following:



(in thousands)	January 31, 2020			January 31, 2019
Customer accounts receivable portfolio balance	$	1,602,037		$	1,589,828
Deferred fees and origination costs, net	(15,746		)	(16,579		)
Allowance for no-interest option credit programs	(14,984		)	(19,257		)
Allowance for uncollectible interest	(23,662		)	(15,555		)
Carrying value of customer accounts receivable	1,547,645			1,538,437
Allowance for bad debts	(210,142		)	(199,324		)
Carrying value of customer accounts receivable, net of allowance for bad debts	1,337,503			1,339,113
Short-term portion of customer accounts receivable, net	$	(673,742	)	$	(652,769	)
Long-term customer accounts receivable, net	$	663,761		$	686,344



	Carrying Value
(in thousands)	January 31, 2020		January 31, 2019
Customer accounts receivable 60+ days past due ⁽¹⁾	$	193,797	$	146,188
Re-aged customer accounts receivable ^(2)(3)(4)	455,704		395,576
Restructured customer accounts receivable ⁽⁵⁾	211,857		183,641


(1)	As of January 31, 2020 and 2019, the carrying value of customer accounts receivable past due one day or greater was $527.0 million and $420.9 million, respectively. These amounts include the 60+ days past due balances shown above.


(2)	The re-aged carrying value as of January 31, 2020 and 2019 includes $131.4 million and $92.4 million in carrying value that are both 60+ days past due and re-aged.


(3)	The re-aged carrying value as of January 31, 2020 and 2019 includes $9.2 million and $26.5 million in first time re-ages related to customers within FEMA-designated Hurricane Harvey disaster areas.


(4)	The re-aged carrying value as of January 31, 2020 includes $6.9 million in first time re-ages related to customers within FEMA-designated Tropical Storm Imelda disaster areas.


(5)	The restructured carrying value as of January 31, 2020 and 2019 includes $64.8 million and $43.9 million in carrying value that are both 60+ days past due and restructured.

Allowance for doubtful accounts and uncollectible interest for customer receivables

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



	January 31, 2020
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	147,123		$	67,756		$	214,879
Provision ⁽¹⁾	177,250			91,356			268,606
Principal charge-offs ⁽²⁾	(158,773		)	(63,074		)	(221,847		)
Interest charge-offs	(37,850		)	(15,037		)	(52,887		)
Recoveries ⁽²⁾	17,930			7,123			25,053
Allowance at end of period	$	145,680		$	88,124		$	233,804
Average total customer portfolio balance	$	1,367,260		$	200,618		$	1,567,878



	January 31, 2019
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	148,856		$	54,716		$	203,572
Provision ⁽¹⁾	174,552			74,514			249,066
Principal charge-offs ⁽²⁾	(157,789		)	(55,024		)	(212,813		)
Interest charge-offs	(32,432		)	(11,310		)	(43,742		)
Recoveries ⁽²⁾	13,936			4,860			18,796
Allowance at end of period	$	147,123		$	67,756		$	214,879
Average total customer portfolio balance	$	1,355,011		$	171,717		$	1,526,728



	January 31, 2018
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	158,992		$	51,183		$	210,175
Provision ⁽¹⁾	189,786			71,047			260,833
Principal charge-offs ⁽²⁾	(177,682		)	(60,003		)	(237,685		)
Interest charge-offs	(30,379		)	(10,259		)	(40,638		)
Recoveries ⁽²⁾	8,139			2,748			10,887
Allowance at end of period	$	148,856		$	54,716		$	203,572
Average total customer portfolio balance	$	1,357,455		$	143,245		$	1,500,700


(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 the principal amount collected during the period for previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries.

Property and Equipment (Tables)

12 Months Ended

Jan. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:



	Estimated	January 31,
(dollars in thousands)	Useful Lives	2020			2019
Land	—	$	1,644		$	4,130
Buildings	30 years	4,115			1,748
Leasehold improvements	5 to 15 years	285,524			246,404
Equipment and fixtures	3 to 5 years	92,634			78,562
Finance/Capital leases	3 to 20 years	8,032			9,646
Construction in progress	—	8,846			9,696
		400,795			350,186
Less accumulated depreciation		(227,764		)	(201,203		)
		$	173,031		$	148,983

Charges and Credits (Tables)

12 Months Ended

Jan. 31, 2020

Charges and Credits [Abstract]

Schedule of Charges and Credits

Charges and credits consisted of the following:



	Year Ended January 31,
(in thousands)	2020		2019		2018
Store and facility closure and relocation costs	$	1,933	$	—	$	2,381
Legal and professional fees and related reserves associated with the exploration of strategic alternatives, securities-related litigation, a legal judgment and other legal matters	—		5,100		1,177
Indirect tax audit reserve	—		1,943		2,595
Employee severance and executive management transition costs	—		737		1,317
Write-off of capitalized software costs	1,209		—		5,861
	$	3,142	$	7,780	$	13,331

Finance Charges and Other Revenues (Tables)

12 Months Ended

Jan. 31, 2020

Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]

Summary of finance charges and other revenues

Finance charges and other revenues consisted of the following:



	Year Ended January 31,
(in thousands)	2020		2019		2018
Interest income and fees	$	341,224	$	325,136	$	289,005
Insurance income	38,417		29,556		34,718
Other revenues	810		447		341
Total finance charges and other revenues	$	380,451	$	355,139	$	324,064

Debt and Capital Lease Obligations (Tables)

12 Months Ended

Jan. 31, 2020

Debt Disclosure [Abstract]

Long term debt

Debt and finance lease obligations consisted of the following:



	January 31,
(in thousands)	2020			2019
Revolving Credit Facility	$	29,100		$	266,500
Senior Notes	227,000			227,000
2017-B VIE Asset-backed Class B Notes	—			98,297
2017-B VIE Asset-backed Class C Notes	59,655			78,640
2018-A VIE Asset-backed Class A Notes	34,112			105,971
2018-A VIE Asset-backed Class B Notes	20,572			63,908
2018-A VIE Asset-backed Class C Notes	20,572			63,908
2019-A VIE Asset-backed Class A Notes	76,241			—
2019-A VIE Asset-backed Class B Notes	64,750			—
2019-A VIE Asset-backed Class C Notes	62,510			—
2019-B VIE Asset-backed Class A Notes	265,810			—
2019-B VIE Asset-backed Class B Notes	85,540			—
2019-B VIE Asset-backed Class C Notes	83,270			—
Warehouse Notes	—			53,635
Financing lease obligations	5,209			5,075
Total debt and financing lease obligations	1,034,341			962,934
Less:
Discount on debt	(1,404		)	(1,966		)
Deferred debt issuance costs	(6,797		)	(5,637		)
Current maturities of long-term debt and financing lease obligations	(605		)	(54,109		)
Long-term debt and financing lease obligations	$	1,025,535		$	901,222

Aggregate maturities of long-term debt

Future maturities of debt, excluding financing lease obligations, as of January 31, 2020 are as follows:



(in thousands)
Year Ended January 31,
2021	$	—
2022	—
2023	391,011
2024	203,501
2025	434,620
Total	$	1,029,132

Schedule of asset-backed notes

The asset-backed notes outstanding as of January 31, 2020 consisted of the following:



Asset-Backed Notes	Original Principal Amount		Original Net Proceeds ⁽¹⁾		Current Principal Amount		Issuance Date	Maturity Date	Contractual Interest Rate	Effective Interest Rate ⁽²⁾
2017-B Class C Notes	$	78,640	$	77,843	$	59,655	12/20/2017	11/15/2022	5.95%	6.40%
2018-A Class A Notes	219,200		217,832		34,112		8/15/2018	1/17/2023	3.25%	4.82%
2018-A Class B Notes	69,550		69,020		20,572		8/15/2018	1/17/2023	4.65%	5.61%
2018-A Class C Notes	69,550		68,850		20,572		8/15/2018	1/17/2023	6.02%	6.98%
2019-A Class A Notes	254,530		253,026		76,241		4/24/2019	10/16/2023	3.40%	4.85%
2019-A Class B Notes	64,750		64,276		64,750		4/24/2019	10/16/2023	4.36%	5.14%
2019-A Class C Notes	62,510		61,898		62,510		4/24/2019	10/16/2023	5.29%	6.10%
2019-B Class A Notes	317,150		315,417		265,810		11/26/2019	6/17/2024	2.66%	3.63%
2019-B Class B Notes	85,540		84,916		85,540		11/26/2019	6/17/2024	3.62%	4.19%
2019-B Class C Notes	83,270		82,456		83,270		11/26/2019	6/17/2024	4.60%	5.17%
Total	$	1,304,690	$	1,295,534	$	773,032


(1)	After giving effect to debt issuance costs.


(2)	For the year ended January 31, 2020, and inclusive of the impact of changes in timing of actual and expected cash flows.

Schedule of debt covenants

A summary of the significant financial covenants that govern our Revolving Credit Facility compared to our actual compliance status at January 31, 2020 is presented below:



	Actual	Required Minimum/ Maximum
Interest Coverage Ratio for the quarter must equal or exceed minimum	3.29:1.00	1.00:1.00
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	3.34:1.00	1.50:1.00
Leverage Ratio must not exceed maximum	1.98:1.00	4.00:1.00
ABS Excluded Leverage Ratio must not exceed maximum	0.85:1.00	2.00:1.00
Capital Expenditures, net, must not exceed maximum	$32.4 million	$100.0 million

Income Taxes (Tables)

12 Months Ended

Jan. 31, 2020

Income Tax Disclosure [Abstract]

Deferred tax assets and liabilities

Deferred tax assets and liabilities consisted of the following:



	January 31,
(in thousands)	2020			2019
Deferred tax assets:
Allowance for doubtful accounts	$	18,642		$	22,637
Deferred rent	—			6,200
Deferred gains on sale-leaseback transactions	—			1,447
Deferred revenue	807			908
Indirect tax reserve	3,039			3,025
Inventories	1,796			1,711
Lease liability	81,241			—
Stock-based compensation	1,982			1,825
State net operating loss carryforwards	904			1,127
Other	2,614			3,093
Total deferred tax assets	111,025			41,973
Deferred tax liabilities:
Right-of-use asset	(54,492		)	—
Vendor prepayments	(1,147		)	(1,066		)
Sales tax receivable	(4,842		)	(4,155		)
Property and equipment	(31,627		)	(8,694		)
Other	(318		)	(523		)
Total deferred tax liabilities	(92,426		)	(14,438		)
Net deferred tax asset	$	18,599		$	27,535

Components of provision (benefit) for income taxes

Provision for income taxes consisted of the following:



	Year Ended January 31,
(in thousands)	2020			2019			2018
Current:
Federal	$	9,215		$	29,919		$	(25,891	)
State	1,611			2,308			1,184
Total current	10,826			32,227			(24,707		)
Deferred:
Federal	7,590			(9,419		)	49,536
State	(102		)	121			342
Total deferred	7,488			(9,298		)	49,878
Provision for income taxes	$	18,314		$	22,929		$	25,171

Reconciliation of tax provision at statutory rate



	Year Ended January 31,
(in thousands)	2020			2019			2018
Income tax provision at U.S. federal statutory rate ⁽¹⁾	$	15,607		$	20,323		$	10,696
State income taxes, net of federal benefit	2,011			2,068			1,910
Tax Act and other deferred tax adjustments	(910		)	—			13,387
Provision to return adjustments	—			—			(1,142		)
Employee benefits	1,873			1,096			—
Other	(267		)	(558		)	320
Provision for income taxes	$	18,314		$	22,929		$	25,171


(1)	As a result of H.R. 1 originally known as the Tax Cuts and Jobs Act (the “Tax Act”), the Company recorded a $0.3 million current income tax benefit in the fourth quarter of fiscal year 2018 as a result of using a 33.81% blended statutory rate for fiscal year 2018 instead of the prior statutory rate of 35%.

Changes in balance of unrecognized tax benefits

Changes in the balance of unrecognized tax benefits, including interest and penalties on uncertain tax positions, were as follows:



	Year Ended January 31,
(in thousands)	2020			2019			2018
Balance at February 1	$	(11,625	)	$	—		$	—
Increases related to prior year tax positions	—			(12,084		)	—
Decreases related to prior year tax positions	241			459			—
Balance at January 31	$	(11,384	)	$	(11,625	)	$	—

Leases (Tables)

12 Months Ended

Jan. 31, 2020

Leases, Operating [Abstract]

Lease, Cost [Table Text Block]

Supplemental lease information is summarized below:



		January 31,
(in thousands)	Balance sheet classification	2020
Assets
Operating lease assets	Operating lease right-of-use assets	$	242,457
Finance lease assets	Property and equipment, net	5,028
Total leased assets		$	247,485
Liabilities
Operating ⁽¹⁾	Operating lease liability - current	$	47,118
Finance	Current maturities of debt and finance lease obligations	605
Operating	Operating lease liability - non current	329,081
Finance	Long-term debt and finance lease obligations	4,604
Total lease liabilities		$	381,408


(1)	Represents the gross operating lease liability before tenant improvement allowances. As of January 31, 2020, we had $11.7 million of tenant improvement allowances to be remitted by the landlord.



Lease Cost		Year Ended January 31,
(in thousands)	Income statement classification	2020
Operating lease costs ⁽¹⁾	Selling, general and administrative expense	$	57,501
Impairment of ROU asset	Charges and credits	1,933
Total operating lease cost		$	59,434


(1)	Includes short-term and variable lease costs, which are not significant.

Additional details regarding the Company’s leasing activities as a lessee are presented below:



Other Information	Year Ended January 31,
(dollars in thousands)	2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	69,829
Weighted-average remaining lease term (in years)
Finance leases	11.2
Operating leases	7.1
Weighted-average discount rate
Finance leases	6.1		%
Operating leases ⁽¹⁾	8.3		%


(1)	Upon adoption of ASC 842, discount rates for existing operating leases were established as of February 1, 2019.

Schedule of future minimum base rental payments

The following table presents a summary of our minimum contractual commitments and obligations as of January 31, 2020:



(in thousands)	Operating Leases		Finance Leases		Total
Year ending January 31,
2021	$	75,906	$	916	$	76,822
2022	75,660		916		76,576
2023	73,880		661		74,541
2024	68,519		831		69,350
2025	58,024		551		58,575
Thereafter	147,181		3,448		150,629
Total undiscounted cash flows	499,170		7,323		506,493
Less: Interest	122,971		2,114		125,085
Total lease liabilities	$	376,199	$	5,209	$	381,408

Stock-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based compensation expense

Total stock-based compensation expense, recognized primarily in SG&A, from stock-based compensation consisted of the following:



	Year Ended January 31,
(in thousands)	2020		2019		2018
Stock options	$	3,978	$	3,414	$	236
RSUs and PSUs	8,316		8,540		7,622
Employee stock purchase plan	256		263		220
Accelerated RSU expense charged to severance	—		—		602
	$	12,550	$	12,217	$	8,680

Summary of incentive stock option plan activity

The following table summarizes the activity for outstanding stock options:



	Shares Under Option		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life
Outstanding, January 31, 2019	772,731		$	28.49
Granted	—		$	—
Exercised	(24,340	)	$	9.11
Forfeited and expired	(4,200	)	$	4.84
Outstanding, January 31, 2020	744,191		$	29.73	7.7
Vested and expected to vest, January 31, 2020	744,191		$	29.73	7.7
Exercisable, January 31, 2020	99,023		$	16.03	5.3

Summary of the restricted stock units granted under the Omnibus Incentive Plan activity

The following table summarizes the activity for RSUs and PSUs:



	Time-Based RSUs				Performance-Based RSUs
	Number of Units		Weighted-Average Grant Date Fair Value		Number of Units		Weighted-Average Grant Date Fair Value		Total Number of Units
Balance, January 31, 2019	884,275		$	18.73	467,000		$	11.66	1,351,275
Granted	108,588		$	19.68	33,894		$	23.39	142,482
Vested and converted to common stock	(369,839	)	$	16.99	—		$	—	(369,839	)
Forfeited	(34,201	)	$	20.05	(7,000	)	$	11.60	(41,201	)
Balance, January 31, 2020	588,823		$	19.92	493,894		$	12.47	1,082,717

Significant Vendors (Tables)

12 Months Ended

Jan. 31, 2020

Significant Vendors [Abstract]

Vendor portion of the Company's merchandise purchases

As shown in the table below, a significant portion of our merchandise purchases were made from six vendors:



	Year Ended January 31,
	2020		2019		2018
Vendor A	33.6	%	25.3	%	27.6	%
Vendor B	16.3		16.1		14.8
Vendor C	11.0		7.0		6.5
Vendor D	9.6		6.7		5.3
Vendor E	9.5		5.2		4.1
Vendor F	5.7		5.0		3.8
	85.7	%	65.3	%	62.1	%

Variable Interest Entities (Tables)

12 Months Ended

Jan. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities

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)	January 31, 2020			January 31, 2019
Assets:
Restricted cash	$	73,214		$	57,475
Due from (due to) Conn’s, Inc., net	307			5,504
Customer accounts receivable:
Customer accounts receivable	838,210			538,826
Restructured accounts	147,971			135,834
Allowance for uncollectible accounts	(151,263		)	(106,327		)
Allowance for no-interest option credit programs	(12,445		)	(8,047		)
Deferred fees and origination costs	(8,255		)	(5,321		)
Total customer accounts receivable, net	814,218			554,965
Total assets	$	887,739		$	617,944
Liabilities:
Accrued expenses	$	5,517		$	3,939
Other liabilities	7,584			5,513
Short-term debt:
Warehouse Notes	—			53,635

Long-term debt:
2017-B Class B Notes	—			98,297
2017-B Class C Notes	59,655			78,640
2018-A Class A Notes	34,112			105,971
2018-A Class B Notes	20,572			63,908
2018-A Class C Notes	20,572			63,908
2019-A Class A Notes	76,241			—
2019-A Class B Notes	64,750			—
2019-A Class C Notes	62,510			—
2019-B Class A Notes	265,810			—
2019-B Class B Notes	85,540			—
2019-B Class C Notes	83,270			—
	773,032			410,724
Less deferred debt issuance costs	(4,911		)	(2,731		)
Total long-term debt	768,121			407,993
Total debt	768,121			461,628
Total liabilities	$	781,222		$	471,080

- 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 Information (Tables)

12 Months Ended

Jan. 31, 2020

Segment Reporting [Abstract]

Financial information by segment

Financial information by segment is presented in the following tables:



	Year Ended January 31, 2020
(in thousands)	Retail		Credit			Total
Revenues:
Furniture and mattress	$	370,931	$	—		$	370,931
Home appliance	360,441		—			360,441
Consumer electronics	221,449		—			221,449
Home office	73,074		—			73,074
Other	16,529		—			16,529
Product sales	1,042,424		—			1,042,424
Repair service agreement commissions	106,997		—			106,997
Service revenues	13,814		—			13,814
Total net sales	1,163,235		—			1,163,235
Finance charges and other revenues	810		379,641			380,451
Total revenues	1,164,045		379,641			1,543,686
Costs and expenses:
Cost of goods sold	697,784		—			697,784
Selling, general and administrative expense ⁽¹⁾	346,108		156,916			503,024
Provision for bad debts	905		204,312			205,217
Charges and credits	1,933		1,209			3,142
Total costs and expenses	1,046,730		362,437			1,409,167
Operating income	117,315		17,204			134,519
Interest expense	—		59,107			59,107
Loss on extinguishment of debt	—		1,094			1,094
Income (loss) before income taxes	$	117,315	$	(42,997	)	$	74,318
Additional Disclosures:
Property and equipment additions	$	62,244	$	200		$	62,444
Depreciation expense	$	35,783	$	1,058		$	36,841
	January 31, 2020
(in thousands)	Retail		Credit			Total
Total assets	$	641,812	$	1,526,957		$	2,168,769



	Year Ended January 31, 2019
(in thousands)	Retail		Credit			Total
Revenues:
Furniture and mattress	$	382,975	$	—		$	382,975
Home appliance	332,609		—			332,609
Consumer electronics	262,088		—			262,088
Home office	86,260		—			86,260
Other	14,703		—			14,703
Product sales	1,078,635		—			1,078,635
Repair service agreement commissions	101,928		—			101,928
Service revenues	14,111		—			14,111
Total net sales	1,194,674		—			1,194,674
Finance charges and other revenues	447		354,692			355,139
Total revenues	1,195,121		354,692			1,549,813
Costs and expenses:
Cost of goods sold	702,135		—			702,135
Selling, general and administrative expense ⁽¹⁾	328,628		151,933			480,561
Provision for bad debts	1,009		197,073			198,082
Charges and credits	2,980		4,800			7,780
Total costs and expenses	1,034,752		353,806			1,388,558
Operating income	160,369		886			161,255
Interest expense	—		62,704			62,704
Loss on extinguishment of debt	—		1,773			1,773
Income (loss) before income taxes	$	160,369	$	(63,591	)	$	96,778
Additional Disclosures:
Property and equipment additions	$	36,110	$	1,384		$	37,494
Depreciation expense	$	30,739	$	845		$	31,584
	January 31, 2019
(in thousands)	Retail		Credit			Total
Total assets	$	405,542	$	1,479,365		$	1,884,907



	Year Ended January 31, 2018
(in thousands)	Retail		Credit			Total
Revenues:
Furniture and mattress	$	393,853	$	—		$	393,853
Home appliance	337,538		—			337,538
Consumer electronics	248,727		—			248,727
Home office	80,330		—			80,330
Other	17,426		—			17,426
Product sales	1,077,874		—			1,077,874
Repair service agreement commissions	100,383		—			100,383
Service revenues	13,710		—			13,710
Total net sales	1,191,967		—			1,191,967
Finance charges and other revenues	341		323,723			324,064
Total revenues	1,192,308		323,723			1,516,031
Costs and expenses:
Cost of goods sold	720,344		—			720,344
Selling, general and administrative expense ⁽¹⁾	316,325		134,088			450,413
Provision for bad debts	829		216,046			216,875
Charges and credits	13,331		—			13,331
Total costs and expenses	1,050,829		350,134			1,400,963
Operating income (loss)	141,479		(26,411		)	115,068
Interest expense	—		80,160			80,160
Loss on extinguishment of debt	—		3,274			3,274
Income (loss) before income taxes	$	141,479	$	(109,845	)	$	31,634
Additional Disclosures:
Property and equipment additions	$	21,285	$	42		$	21,327
Depreciation expense	$	30,065	$	741		$	30,806
	January 31, 2018
(in thousands)	Retail		Credit			Total
Total assets	$	344,327	$	1,556,472		$	1,900,799


(1)	For the years ended January 31, 2020, 2019 and 2018, the amount of overhead allocated to each segment reflected in SG&A was $30.0 million, $36.4 million and $27.6 million, respectively. For the years ended January 31, 2020, 2019 and 2018, the amount of reimbursement made to the retail segment by the credit segment was $39.1 million, $38.1 million and $37.4 million, respectively.

Guarantor Financial Information (Tables)

12 Months Ended

Jan. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidated Balance Sheet

Consolidated Balance Sheets as of January 31, 2020



(in thousands)	Conn’s, Inc.		Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	5,485	$	—	$	—		$	5,485
Restricted cash	—		2,156		73,214		—			75,370
Customer accounts receivable, net of allowances	—		279,978		393,764		—			673,742
Other accounts receivable	—		68,753		—		—			68,753
Inventories	—		219,756		—		—			219,756
Other current assets	—		19,452		307		(3,999		)	15,760
Total current assets	—		595,580		467,285		(3,999		)	1,058,866
Investment in and advances to subsidiaries	832,980		106,517		—		(939,497		)	—
Long-term portion of customer accounts receivable, net of allowance	—		243,307		420,454		—			663,761
Property and equipment, net	—		173,031		—		—			173,031
Operating lease right-of-use assets	—		242,457		—		—			242,457
Deferred income taxes	18,599		—		—		—			18,599
Other assets	—		12,055		—		—			12,055
Total assets	$	851,579	$	1,372,947	$	887,739	$	(943,496	)	$	2,168,769
Liabilities and Stockholders’ Equity
Current liabilities:
Current maturities of debt and financing lease obligations	$	—	$	605	$	—	$	—		$	605
Accounts payable	—		48,554		—		—			48,554
Accrued expenses	686		60,886		5,517		(3,999		)	63,090
Operating lease liability - current	—		35,390		—		—			35,390
Other current liabilities	—		10,416		4,215		—			14,631
Total current liabilities	686		155,851		9,732		(3,999		)	162,270
Operating lease liability - non current	—		329,081		—		—			329,081
Long-term debt and financing lease obligations	223,713		33,701		768,121		—			1,025,535
Other long-term liabilities	—		21,334		3,369		—			24,703
Total liabilities	224,399		539,967		781,222		(3,999		)	1,541,589
Total stockholders’ equity	627,180		832,980		106,517		(939,497		)	627,180
Total liabilities and stockholders’ equity	$	851,579	$	1,372,947	$	887,739	$	(943,496	)	$	2,168,769

Consolidated Balance Sheets as of January 31, 2019



(in thousands)	Conn’s, Inc.		Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	5,912	$	—	$	—		$	5,912
Restricted cash	—		1,550		57,475		—			59,025
Customer accounts receivable, net of allowances	—		328,705		324,064		—			652,769
Other accounts receivable	—		67,078		—		—			67,078
Inventories	—		220,034		—		—			220,034
Other current assets	—		12,344		5,504		(8,272		)	9,576
Total current assets	—		635,623		387,043		(8,272		)	1,014,394
Investment in and advances to subsidiaries	815,524		146,864		—		(962,388		)	—
Long-term portion of customer accounts receivable, net of allowance	—		455,443		230,901		—			686,344
Property and equipment, net	—		148,983		—		—			148,983
Deferred income taxes	27,535		—		—		—			27,535
Other assets	—		7,651		—		—			7,651
Total assets	$	843,059	$	1,394,564	$	617,944	$	(970,660	)	$	1,884,907
Liabilities and Stockholders’ Equity
Current liabilities:
Current maturities of debt and financing lease obligations	$	—	$	474	$	53,635	$	—		$	54,109
Accounts payable	—		71,118		—		—			71,118
Accrued expenses	686		88,478		3,939		(2,768		)	90,335
Other current liabilities	—		24,918		2,592		(5,504		)	22,006
Total current liabilities	686		184,988		60,166		(8,272		)	237,568
Deferred rent	—		93,127		—		—			93,127
Long-term debt and financing lease obligations	222,398		270,831		407,993		—			901,222
Other long-term liabilities	—		30,094		2,921		—			33,015
Total liabilities	223,084		579,040		471,080		(8,272		)	1,264,932
Total stockholders’ equity	619,975		815,524		146,864		(962,388		)	619,975
Total liabilities and stockholders’ equity	$	843,059	$	1,394,564	$	617,944	$	(970,660	)	$	1,884,907

Condensed Consolidated Statement of Operations

Consolidated Statement of Operations for the year ended January 31, 2019



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	1,194,674		$	—		$	—		$	1,194,674
Finance charges and other revenues	—			193,583			161,556			—			355,139
Servicing fee revenue	—			40,947			—			(40,947		)	—
Total revenues	—			1,429,204			161,556			(40,947		)	1,549,813
Costs and expenses:
Cost of goods sold	—			702,135			—			—			702,135
Selling, general and administrative expense	—			479,995			41,513			(40,947		)	480,561
Provision for bad debts	—			68,056			130,026			—			198,082
Charges and credits	—			7,780			—			—			7,780
Total costs and expenses	—			1,257,966			171,539			(40,947		)	1,388,558
Operating income (loss)	—			171,238			(9,983		)	—			161,255
Interest expense	17,782			12,498			32,424			—			62,704
Loss on extinguishment of debt	—			142			1,631			—			1,773
Income (loss) before income taxes	(17,782		)	158,598			(44,038		)	—			96,778
Provision (benefit) for income taxes	(4,213		)	37,577			(10,435		)	—			22,929
Net income (loss)	(13,569		)	121,021			(33,603		)	—			73,849
Income (loss) from consolidated subsidiaries	87,418			(33,603		)	—			(53,815		)	—
Consolidated net income (loss)	$	73,849		$	87,418		$	(33,603	)	$	(53,815	)	$	73,849

Consolidated Statement of Operations for the year ended January 31, 2018.



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	1,191,967		$	—		$	—		$	1,191,967
Finance charges and other revenues	—			173,539			150,525			—			324,064
Servicing fee revenue	—			63,372			—			(63,372		)	—
Total revenues	—			1,428,878			150,525			(63,372		)	1,516,031
Costs and expenses:
Cost of goods sold	—			720,344			—			—			720,344
Selling, general and administrative expense	—			460,698			53,087			(63,372		)	450,413
Provision for bad debts	—			42,677			174,198			—			216,875
Charges and credits	—			13,331			—			—			13,331
Total costs and expenses	—			1,237,050			227,285			(63,372		)	1,400,963
Operating income (loss)	—			191,828			(76,760		)	—			115,068
Interest expense	17,772			15,978			46,410			—			80,160
Loss on extinguishment of debt	—			349			2,925			—			3,274
Income (loss) before income taxes	(17,772		)	175,501			(126,095		)	—			31,634
Provision (benefit) for income taxes	(14,141		)	139,647			(100,335		)	—			25,171
Net income (loss)	(3,631		)	35,854			(25,760		)	—			6,463
Income (loss) from consolidated subsidiaries	10,094			(25,760		)	—			15,666			—
Consolidated net income (loss)	$	6,463		$	10,094		$	(25,760	)	$	15,666		$	6,463

Consolidated Statements of Operations for the year ended January 31, 2020



(in thousands)	Conn’s, Inc.			Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	1,163,235	$	—	$	—		$	1,163,235
Finance charges and other revenues	—			219,442		161,009		—			380,451
Servicing fee revenue	—			38,240		—		(38,240		)	—
Total revenues	—			1,420,917		161,009		(38,240		)	1,543,686
Costs and expenses:
Cost of goods sold	—			697,784		—		—			697,784
Selling, general and administrative expense	—			502,398		38,866		(38,240		)	503,024
Provision for bad debts	—			128,230		76,987		—			205,217
Charges and credits	—			3,142		—		—			3,142
Total costs and expenses	—			1,331,554		115,853		(38,240		)	1,409,167
Operating income	—			89,363		45,156		—			134,519
Interest expense	17,777			11,986		29,344		—			59,107
Loss on extinguishment of debt	—			1,094		—		—			1,094
Income (loss) before income taxes	(17,777		)	76,283		15,812		—			74,318
Provision (benefit) for income taxes	(4,381		)	18,798		3,897		—			18,314
Net income (loss)	(13,396		)	57,485		11,915		—			56,004
Income from consolidated subsidiaries	69,399			11,915		—		(81,314		)	—
Consolidated net income	$	56,003		$	69,400	$	11,915	$	(81,314	)	$	56,004

Condensed Consolidated Statement of Cash Flows

Consolidated Statement of Cash Flows for the year ended January 31, 2019



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(1,237	)	$	18,201		$	134,837		$	—		$	151,801
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(525,846		)	525,846			—
Sale of customer accounts receivables	—			—			525,846			(525,846		)	—
Purchase of property and equipment	—			(32,814		)	—			—			(32,814		)
Net cash used in investing activities	—			(32,814		)	—			—			(32,814		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			358,300			—			358,300
Payments on asset-backed notes	—			(169,443		)	(570,432		)	—			(739,875		)
Borrowings from Revolving Credit Facility	—			1,836,822			—			—			1,836,822
Payments on Revolving Credit Facility	—			(1,647,322		)	—			—			(1,647,322		)
Borrowings from warehouse facility	—			—			173,286			—			173,286
Payments of debt issuance costs and amendment fees	—			(3,230		)	(4,188		)	—			(7,418		)
Payments on warehouse facility	—			—			(119,650		)	—			(119,650		)
Proceeds from stock issued under employee benefit plans	1,237			—			—			—			1,237
Tax payments associated with equity-based compensation transactions	—			(3,342		)	—			—			(3,342		)
Payments from extinguishment of debt	—			(1,178		)	—			—			(1,178		)
Other	—			(1,068		)	—			—			(1,068		)
Net cash provided by (used in) financing activities	1,237			11,239			(162,684		)	—			(150,208		)
Net change in cash, cash equivalents and restricted cash	—			(3,374		)	(27,847		)	—			(31,221		)
Cash, cash equivalents and restricted cash, beginning of period	—			10,836			85,322			—			96,158
Cash, cash equivalents and restricted cash, end of period	$	—		$	7,462		$	57,475		$	—		$	64,937

Consolidated Statement of Cash Flows for the year ended January 31, 2018.



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(3,318	)	$	(925,182	)	$	979,022		$	—		$	50,522
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(1,112,903		)	1,112,903			—
Sale of customer accounts receivables	—			1,112,903			—			(1,112,903		)	—
Purchase of property and equipment	—			(16,918		)	—			—			(16,918		)
Proceeds from asset dispositions	—			—			—			—			—
Net cash provided by (used in) investing activities	—			1,095,985			(1,112,903		)	—			(16,918		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			1,042,034			—			1,042,034
Payments on asset-backed notes	—			(77,104		)	(922,923		)	—			(1,000,027		)
Borrowings from Revolving Credit Facility	—			1,717,012			—			—			1,717,012
Payments on Revolving Credit Facility	—			(1,817,512		)	—			—			(1,817,512		)
Payments of debt issuance costs and amendment fees	—			(3,268		)	(10,606		)	—			(13,874		)
Proceeds from stock issued under employee benefit plans	3,318			—			—			—			3,318
Tax payments associated with equity-based compensation transactions	—			(1,182		)	—			—			(1,182		)
Payments from extinguishment of debt	—			(836		)	—			—			(836		)
Other	—			(643		)	—			—			(643		)
Net cash provided by (used in) financing activities	3,318			(183,533		)	108,505			—			(71,710		)
Net change in cash, cash equivalents and restricted cash	—			(12,730		)	(25,376		)	—			(38,106		)
Cash, cash equivalents and restricted cash, beginning of period	—			23,566			110,698			—			134,264
Cash, cash equivalents and restricted cash, end of period	$	—		$	10,836		$	85,322		$	—		$	96,158

Consolidated Statements of Cash Flows for the year ended January 31, 2020



(in thousands)	Conn’s, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(988	)	$	366,536		$	(285,482	)	$	—		$	80,066
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(482,788		)	482,788			—
Sale of customer accounts receivables	—			—			482,788			(482,788		)	—
Purchase of property and equipment	—			(57,546		)	—			—			(57,546		)
Proceeds from asset dispositions	—			724			—			—			724
Investment in subsidiary	—			(66,290		)	—			66,290			—
Net cash used in investing activities	—			(123,112		)	—			66,290			(56,822		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			867,750			—			867,750
Payments on asset-backed notes	—			—			(505,442		)	—			(505,442		)
Borrowings from Revolving Credit Facility	—			1,625,440			—			—			1,625,440
Contribution from subsidiary	66,290			—			—			(66,290		)	—
Payments on Revolving Credit Facility	—			(1,865,069		)	—			—			(1,865,069		)
Payments of debt issuance costs and amendment fees	—			(424		)	(7,452		)	—			(7,876		)
Payments on warehouse facility	—			—			(53,635		)	—			(53,635		)
Proceeds from stock issued under employee benefit plans	988			—			—			—			988
Tax payments associated with equity-based compensation transactions	—			(2,216		)	—			—			(2,216		)
Payment for share repurchases	(66,290		)	—			—			—			(66,290		)
Other	—			(976		)	—			—			(976		)
Net cash provided by (used in) financing activities	988			(243,245		)	301,221			(66,290		)	(7,326		)
Net change in cash, cash equivalents and restricted cash	—			179			15,739			—			15,918
Cash, cash equivalents and restricted cash, beginning of period	—			7,462			57,475			—			64,937
Cash, cash equivalents and restricted cash, end of period	$	—		$	7,641		$	73,214		$	—		$	80,855

Quarterly Information (Unaudited) (Tables)

12 Months Ended

Jan. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information



(dollars in thousands, except per share amounts)	Fiscal Year 2020
	Quarter Ended
	April 30			July 31			Restated October 31 ⁽¹⁾			January 31
Revenues:
Retail Segment	$	262,181		$	306,265		$	280,319		$	315,280
Credit Segment	91,331			94,794			95,808			97,708
Total revenues	$	353,512		$	401,059		$	376,127		$	412,988
Percent of annual revenues	22.9		%	26.0		%	24.4		%	26.7		%
Costs and expenses:
Cost of goods sold	$	157,228		$	182,065		$	170,453		$	188,038
Operating income (loss):
Retail Segment	$	25,897		$	36,072		$	19,598		$	35,748
Credit Segment	13,122			5,702			10,706			(12,326		)
Total operating income	$	39,019		$	41,774		$	30,304		$	23,422
Net income	$	19,509		$	19,974		$	11,469		$	5,052
Income per share
Basic ⁽²⁾	$	0.61		$	0.64		$	0.39		$	0.18
Diluted ⁽²⁾	$	0.60		$	0.62		$	0.39		$	0.17



(dollars in thousands, except per share amounts)	Fiscal Year 2019
	Quarter Ended
	April 30			July 31			October 31			January 31
Revenues:
Retail Segment	$	275,770		$	296,411		$	284,053		$	338,887
Credit Segment	82,617			88,209			89,771			94,095
Total revenues	$	358,387		$	384,620		$	373,824		$	432,982
Percent of annual revenues	23.1		%	24.8		%	24.1		%	28.0		%
Costs and expenses:
Cost of goods sold	$	166,589		$	173,627		$	166,886		$	195,033
Operating income (loss):
Retail Segment	$	31,169		$	39,238		$	35,250		$	54,712
Credit Segment	1,595			14			223			(946		)
Total operating income	$	32,764		$	39,252		$	35,473		$	53,766
Net income	$	12,732		$	17,011		$	14,630		$	29,476
Income per share:
Basic ⁽²⁾	$	0.40		$	0.54		$	0.46		$	0.93
Diluted ⁽²⁾	$	0.39		$	0.53		$	0.45		$	0.91



	Fiscal Year 2018
(dollars in thousands, except per share amounts)	Quarter Ended
(dollars in thousands, except per share amounts)	April 30			July 31			October 31			January 31
Revenues:
Retail Segment	$	279,365		$	286,505		$	291,903		$	334,535
Credit Segment	76,461			80,142			81,269			85,851
Total revenues	$	355,826		$	366,647		$	373,172		$	420,386
Percent of annual revenues	23.5		%	24.2		%	24.6		%	27.7		%
Costs and expenses:
Cost of goods sold	$	171,950		$	172,306		$	175,591		$	200,497
Operating income (loss):
Retail Segment	$	32,011		$	31,299		$	29,586		$	48,583
Credit Segment	(11,829		)	(2,107		)	(8,733		)	(3,742		)
Total operating income	$	20,182		$	29,192		$	20,853		$	44,841
Net income (loss)	$	(2,580	)	$	4,273		$	1,569		$	3,201
Income (loss) per share
Basic ⁽²⁾	$	(0.08	)	$	0.14		$	0.05		$	0.10
Diluted ⁽²⁾	$	(0.08	)	$	0.14		$	0.05		$	0.10


(1)	Quarterly information adjusted for the restatements noted below.


(2)	The sum of the quarterly earnings per share amounts may not equal the fiscal year amount due to rounding and use of weighted-average shares outstanding.

Quarterly Information (Unaudited) Correction of Error (Tables)

12 Months Ended

Jan. 31, 2020

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

The following tables present the effects this restatement had on the reported condensed consolidated interim financial statements for the Non-Reliance Periods:



Statements of Income
(dollars in thousands, except per share amounts)	Three Months Ended October 31, 2019
(dollars in thousands, except per share amounts)	As Previously Reported		Q3 Corrections			Restated
Finance charges and other revenues	$	97,586	$	(1,581	)	$	96,005
Total revenues	377,708		(1,581		)	376,127
Provision for bad debts	42,586		3,339			45,925
Operating income	35,224		(4,920		)	30,304
Income before taxes	20,173		(4,920		)	15,253
Net income	$	15,143	$	(3,674	)	$	11,469
Earnings per share:
Basic	$	0.52	$	(0.13	)	$	0.39
Diluted	$	0.51	$	(0.12	)	$	0.39

	Nine Months Ended October 31, 2019
	As Previously Reported		Q3 Corrections			Restated
Finance charges and other revenues	$	284,116	$	(1,581	)	$	282,535
Total revenues	1,132,279		(1,581		)	1,130,698
Provision for bad debts	132,368		3,339			135,707
Operating income	116,017		(4,920		)	111,097
Income before taxes	72,073		(4,920		)	67,153
Net income	$	54,626	$	(3,674	)	$	50,952
Earnings per share:
Basic	$	1.77	$	(0.12	)	$	1.65
Diluted	$	1.74	$	(0.12	)	$	1.62

Balance Sheet
	October 31, 2019
	As Previously Reported		Q3 Corrections			Restated
Customer accounts receivable, net of allowances	$	666,922	$	(4,920	)	$	662,002
Income taxes receivable	1,688		912			2,600
Total current assets	$	1,047,752	$	(4,008	)	$	1,043,744
Deferred income taxes	22,908		334			23,242
Total assets	$	2,156,825	$	(3,674	)	$	2,153,151
Total stockholders’ equity	$	630,377	$	(3,674	)	$	626,703
Total liabilities and stockholders’ equity	$	2,156,825	$	(3,674	)	$	2,153,151

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Jan. 31, 2020 USD ($) segment shares	Jan. 31, 2019 USD ($) shares	Jan. 31, 2018 USD ($) shares	Jan. 31, 2017 USD ($)
Schedule of Earnings Per Share [Line Items]
Allowance for Doubtful Accounts Receivable	$ 233,804,000	$ 214,879,000	$ 203,572,000	$ 210,175,000
Business
Operating segments \| segment	2
Cash and cash equivalents
Credit card deposits in-transit	$ 4,000,000	2,500,000
Customer Accounts Receivable
Delinquent accounts charged-off (more than)	209 days
Interest Income on Customer Accounts Receivable
Receivables in non-accrual status	$ 12,500,000	13,900,000
Receivables past due	132,700,000	106,500,000
Amount in bankruptcy and less than 60 days past due	12,100,000	12,000,000
Vendor Allowances
Vendor rebates	156,600,000	143,300,000	153,000,000
Internal-Use Software Costs
Write-off of capitalized software costs	1,200,000	0	5,861,000
Impairment of Long-Lived Assets
Impairment charges recorded	3,200,000.0	0	0
Debt Issuance Costs
Deferred debt issuance costs	(6,797,000)	(5,637,000)
Advertising Costs
Advertising expense included in Selling, general and administrative expense	$ 84,800,000	$ 80,500,000	$ 86,800,000
Earnings per Share
Weighted average common shares outstanding - Basic (in shares) \| shares	30,275,662	31,668,370	31,192,439
Dilutive effect of stock options and restricted stock units (in shares) \| shares	539,113	706,005	585,384
Weighted average common shares outstanding - Diluted (in shares) \| shares	30,814,775	32,374,375	31,777,823
Weighted average number of options not included in the calculation of the dilutive effect of stock options and restricted stock units (in shares) \| shares	898,449	578,951	278,740
Fair Value of Financial Instruments
Fair value of debt	$ 224,700,000
Secured debt
Fair Value of Financial Instruments
Carrying amount of debt	$ 227,000,000
Minimum \| Equipment
Leases
Term of lease	3 years
Maximum \| Equipment
Leases
Term of lease	5 years
Revolving Credit Facility
Debt Issuance Costs
Deferred debt issuance costs	$ (3,500,000)	$ (6,100,000)
Customer Accounts Receivable
Interest Income on Customer Accounts Receivable
Deferred interest	10,600,000	11,200,000
Securitized Receivables Servicer [Member]
Cash and cash equivalents
Restricted cash and cash equivalents	59,700,000	45,300,000
Customer deposits
Fair Value of Financial Instruments
Deferred Revenue, Revenue Recognized	1,000,000	1,800,000
RSA administrative fees
Fair Value of Financial Instruments
Deferred Revenue, Revenue Recognized	5,100,000	5,400,000
VIE
Schedule of Earnings Per Share [Line Items]
Allowance for Doubtful Accounts Receivable	151,263,000	106,327,000
Interest Income on Customer Accounts Receivable
Deferred interest	7,584,000	5,513,000
Debt Issuance Costs
Deferred debt issuance costs	(4,911,000)	(2,731,000)
Fair Value of Financial Instruments
Carrying amount of debt	768,121,000	461,628,000
VIE \| Securitized Receivables Servicer [Member]
Cash and cash equivalents
Restricted cash and cash equivalents	$ 13,900,000	$ 12,200,000

Summary of Significant Accounting Policies - Recent Accounting Pronouncements Adopted (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018	Feb. 01, 2019	Feb. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans and Leases Receivable, Allowance	$ 11,700
Net after-tax cumulative effect adjustment to retained earnings				$ 6,160	$ 956
Decrease in cash used in financing activities	(7,326)	$ (150,208)	$ (71,710)
Payment for debt extinguishment	0	$ 1,178	$ 836
CapitalizedCloudBasedImplementationCosts	$ 8,500
RSA administrative fees
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Revenue, Percent Of Revenue Deferred	5.00%
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans and Leases Receivable, Allowance				10,500
Sale Leaseback Transaction, Deferred Gain, Gross				(7,600)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net after-tax cumulative effect adjustment to retained earnings				6,160	$ 956
Retained Earnings \| ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net after-tax cumulative effect adjustment to retained earnings				$ 6,200

Summary of Significant Accounting Policies - Cumulative Effect of the Changes for Adoption of Topic 606 (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Oct. 31, 2019	Feb. 01, 2019	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018	Jan. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets, Current	$ 1,058,866	$ 1,043,744	$ 1,011,411	$ 1,014,394
Other accounts receivable	68,753			67,078
Operating lease right-of-use assets (2)	18,599	23,242	26,088	27,535
Deferred income taxes (3)	627,180	$ 626,703	626,135	619,975		$ 535,068	$ 517,790
Operating Lease, Right-of-Use Asset	242,457		227,421	0
Liabilities, Current	162,270		225,142	237,568
Operating Lease, Liability, Current	35,390		29,815	0
Deferred Rent Credit, Noncurrent	0		0	93,127
Operating Lease, Liability, Noncurrent	329,081		300,170	0
Other Liabilities, Noncurrent	$ 24,703		25,409	$ 33,015
ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other accounts receivable					$ 72,396
Operating lease right-of-use assets (2)					21,311
Deferred income taxes (3)					536,024
ASU 2014-09 \| Balance at January 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other accounts receivable						71,186
Operating lease right-of-use assets (2)						21,565
Deferred income taxes (3)						$ 535,068
ASU 2014-09 \| Adjustments due to ASC 842
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other accounts receivable					1,210
Operating lease right-of-use assets (2)					(254)
Deferred income taxes (3)					$ 956
ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets, Current			(2,983)
Operating lease right-of-use assets (2)			(1,447)
Deferred income taxes (3)			6,160
Operating Lease, Right-of-Use Asset			227,421
Liabilities, Current			(12,426)
Operating Lease, Liability, Current			29,815
Deferred Rent Credit, Noncurrent			(93,127)
Operating Lease, Liability, Noncurrent			300,170
Other Liabilities, Noncurrent			$ (7,606)

Summary of Significant Accounting Policies - Recent Accounting Pronouncements Yet To Be Adopted (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Oct. 31, 2019	Feb. 01, 2019	Jan. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Income Tax Assets, Net	$ 18,599	$ 23,242	$ 26,088	$ 27,535
Operating Lease, Liability	376,199
Right-of-use assets	$ 242,457		227,421	$ 0
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
AllowanceforLoanLossesEstimatedIncreaseDecreasePercent	40.00%
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
AllowanceforLoanLossesEstimatedIncreaseDecreasePercent	60.00%
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Income Tax Assets, Net			(1,447)
Operating Lease, Liability			340,500
Right-of-use assets			$ 227,421

Summary of Significant Accounting Policies Allowance for Doubtful Accounts (Details) $ in Millions	Jan. 31, 2020 USD ($)
Allowance for Doubtful Accounts [Abstract]
Portfolio Qualitative Adjustment	$ 4.0

Summary of Significant Accounting Policies Revenue Recognition (Details)	Jan. 31, 2020
RSA administrative fees
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred Revenue, Percent Of Revenue Deferred	5.00%

Summary of Significant Accounting Policies Business (Details)	12 Months Ended
	Jan. 31, 2020 segment
Business [Abstract]
Operating segments	2

Summary of Significant Accounting Policies Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Jan. 31, 2020	Jan. 31, 2019
Cash and Cash Equivalents [Abstract]
Credit card deposits in-transit	$ 4.0	$ 2.5

Summary of Significant Accounting Policies Restricted Cash (Details) - USD ($) $ in Millions	Jan. 31, 2020	Jan. 31, 2019
Securitized Receivables Servicer [Member]
Restricted cash and cash equivalents	$ 59.7	$ 45.3

Customer Accounts Receivable - Schedule of Customer Accounts Receivable (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Oct. 31, 2019	Jan. 31, 2019
Receivables [Abstract]
Customer accounts receivable portfolio balance	$ 1,602,037		$ 1,589,828
Deferred fees and origination costs, net	(15,746)		(16,579)
Allowance for no-interest option credit programs	(14,984)		(19,257)
Allowance for uncollectible interest	(23,662)		(15,555)
Carrying value of customer accounts receivable	1,547,645		1,538,437
Allowance for bad debts	210,142		199,324
Carrying value of customer accounts receivable, net of allowance for bad debts	1,337,503		1,339,113
Short-term portion of customer accounts receivable, net	(673,742)	$ (662,002)	(652,769)
Long-term customer accounts receivable, net	663,761		686,344
Customer accounts receivable 60 plus days past due	193,797		146,188
Re-aged customer accounts receivable	455,704		395,576
Restructured customer accounts receivable	211,857		183,641
Total amount of customer receivables past due one day or greater	527,000		420,900
Amounts included within past due and reaged accounts	131,400		92,400
Re-aged receivable balance	9,200		26,500
Finance Receivable, Re-Aged Imelda	6,900
Amounts included within past due and restructured accounts	$ 64,800		$ 43,900

Customer Accounts Receivable - Allowance for Doubtful Accounts and Uncollectible Interest for Customer Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	$ 214,879	$ 203,572	$ 210,175
Provision	268,606	249,066	260,833
Principal charge-offs	(221,847)	(212,813)	(237,685)
Interest charge-offs	(52,887)	(43,742)	(40,638)
Recoveries	25,053	18,796	10,887
Allowance at end of period	233,804	214,879	203,572
Average total customer portfolio balance	1,567,878	1,526,728	1,500,700
Customer Accounts Receivable
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	147,123	148,856	158,992
Provision	177,250	174,552	189,786
Principal charge-offs	(158,773)	(157,789)	(177,682)
Interest charge-offs	(37,850)	(32,432)	(30,379)
Recoveries	17,930	13,936	8,139
Allowance at end of period	145,680	147,123	148,856
Average total customer portfolio balance	1,367,260	1,355,011	1,357,455
Restructured Accounts
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	67,756	54,716	51,183
Provision	91,356	74,514	71,047
Principal charge-offs	(63,074)	(55,024)	(60,003)
Interest charge-offs	(15,037)	(11,310)	(10,259)
Recoveries	7,123	4,860	2,748
Allowance at end of period	88,124	67,756	54,716
Average total customer portfolio balance	$ 200,618	$ 171,717	$ 143,245

Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 400,795	$ 350,186
Less accumulated depreciation	(227,764)	(201,203)
Total property and equipment, net	173,031	148,983
Land
Property, Plant and Equipment [Line Items]
Property and equipment gross	1,644	4,130
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 4,115	1,748
Estimated life	30 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 285,524	246,404
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated life	5 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated life	15 years
Equipment and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 92,634	78,562
Equipment and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated life	3 years
Equipment and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated life	5 years
Finance/Capital leases
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 8,032	9,646
Finance/Capital leases \| Minimum
Property, Plant and Equipment [Line Items]
Estimated life	3 years
Finance/Capital leases \| Maximum
Property, Plant and Equipment [Line Items]
Estimated life	20 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 8,846	$ 9,696

Property and Equipment - Additional Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation	$ 36,841	$ 31,584	$ 30,806

Charges and Credits (Details) - USD ($) $ in Thousands	12 Months Ended
Charges and Credits (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Disposition of Assets	$ 600
Sublease Income	700
LegalJudgment		$ 4,800
Store and facility closure and relocation costs	1,933	0	$ 2,381
Legal and professional fees and related reserves associated with the exploration of strategic alternatives, securities-related litigation, a legal judgment and other legal matters	0	5,100	1,177
Indirect tax audit reserve	0	1,943	2,595
Employee severance and executive management transition costs	0	737	1,317
Write-off of capitalized software costs	1,200	0	5,861
Charges and credits	3,142	$ 7,780	$ 13,331
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Impairment of Leasehold	$ 3,200

Finance Charges and Other Revenues (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2019	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]
Interest income and fees			$ 341,224	$ 325,136	$ 289,005
Insurance income			38,417	29,556	34,718
Other FCO Revenue			810	447	341
Other Income	$ 96,005	$ 282,535	380,451	355,139	324,064
Provisions for uncollectible interest			64,100	52,000	44,800
Financing Receivable, Modifications [Line Items]
Interest income and fees			341,224	325,136	289,005
Insurance income			38,417	29,556	34,718
Other FCO Revenue			810	447	341
Other Income	$ 96,005	$ 282,535	380,451	355,139	324,064
Provisions for uncollectible interest			64,100	52,000	44,800
TDR accounts
Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]
Interest income and fees			35,300	27,200	19,300
Financing Receivable, Modifications [Line Items]
Interest income and fees			$ 35,300	$ 27,200	$ 19,300

Debt and Capital Lease Obligations - Schedule of Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Jan. 31, 2019
Debt Instrument [Line Items]
Current Principal Amount	$ 1,029,132
Financing lease obligations	5,209	$ 5,075
Total debt and financing lease obligations	1,034,341	962,934
Discount on debt	(1,404)	(1,966)
Deferred debt issuance costs	(6,797)	(5,637)
Current maturities of long-term debt and financing lease obligations	(605)	(54,109)
Long-term debt and capital lease obligations	1,025,535	901,222
VIE \| Warehouse Notes
Debt Instrument [Line Items]
Current Principal Amount	0	53,635
Revolving Credit Facility
Debt Instrument [Line Items]
Deferred debt issuance costs	(3,500)	(6,100)
Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Current Principal Amount	29,100	266,500
Senior Notes
Debt Instrument [Line Items]
Current Principal Amount	227,000	227,000
Secured debt \| 2019-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Long-term Debt	76,241	0
Secured debt \| 2019-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Long-term Debt	64,750	0
Secured debt \| 2019-B VIE Class C Notes [Member] [Member]
Debt Instrument [Line Items]
Long-term Debt	83,270	0
Secured debt \| 2019-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Long-term Debt	62,510	0
Secured debt \| 2019-B VIE Class A Notes [Member] [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 265,810	$ 0

Debt and Capital Lease Obligations - Maturities of Long-term Debt (Details) $ in Thousands	Jan. 31, 2020 USD ($)
Debt Disclosure [Abstract]
2020	$ 0
2021	0
2022	391,011
2023	203,501
2024	434,620
Total	$ 1,029,132

Debt and Capital Lease Obligations - Senior Notes (Details) - Senior Notes - Senior unsecured notes due July 2022 - USD ($)	Jan. 31, 2020	Jul. 01, 2014
Debt Instrument [Line Items]
Original Principal Amount		$ 250,000,000
Contractual Interest Rate		7.25%
Effective interest rate percentage		7.80%
Restrictions on payment of dividends, amount free from restriction	$ 190,100,000
Debt default trigger amount		$ 25,000,000

Debt and Capital Lease Obligations - Asset-backed Notes (Details) - USD ($) $ in Thousands			12 Months Ended
	Nov. 26, 2019	Apr. 24, 2019	Jan. 31, 2020
2019-B VIE Class B Notes [Member] [Member]
Debt Instrument [Line Items]
Original Principal Amount	$ 85,540
Proceeds from issuance of debt	$ 84,916
Contractual Interest Rate	3.62%		3.62%
Effective interest rate percentage			4.19%
2019-B VIE Class C Notes [Member] [Member]
Debt Instrument [Line Items]
Original Principal Amount	$ 83,270
Proceeds from issuance of debt	$ 82,456
Contractual Interest Rate	4.60%		4.60%
Effective interest rate percentage			5.17%
2019-B VIE Class A, B, C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	$ 486,000
Proceeds from issuance of debt	482,800
2019-B VIE Class A Notes [Member] [Member]
Debt Instrument [Line Items]
Original Principal Amount	317,150
Proceeds from issuance of debt	$ 315,417
Contractual Interest Rate	2.66%		2.66%
Effective interest rate percentage			3.63%
2019-A VIE Class A, B, And C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount		$ 381,800
Proceeds from issuance of debt		379,200
2019-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount		254,530
Proceeds from issuance of debt		$ 253,026
Contractual Interest Rate		3.40%	3.40%
Effective interest rate percentage			4.85%
2019-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount		$ 64,750
Proceeds from issuance of debt		$ 64,276
Contractual Interest Rate		4.36%	4.36%
Effective interest rate percentage			5.14%
2019-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount		$ 62,510
Proceeds from issuance of debt		$ 61,898
Contractual Interest Rate		5.29%	5.29%
Effective interest rate percentage			6.10%
Asset-backed receivables
Debt Instrument [Line Items]
Monthly fee received (annualized) (as percent)			4.75%
Secured debt \| 2017-B Class C Notes
Debt Instrument [Line Items]
Contractual Interest Rate			5.95%
Effective interest rate percentage			6.40%
Secured debt \| 2018-A Class A Notes
Debt Instrument [Line Items]
Contractual Interest Rate			3.25%
Effective interest rate percentage			4.82%
Secured debt \| 2018-A Class B Notes
Debt Instrument [Line Items]
Contractual Interest Rate			4.65%
Effective interest rate percentage			5.61%
Secured debt \| 2018-A Class C Notes
Debt Instrument [Line Items]
Contractual Interest Rate			6.02%
Effective interest rate percentage			6.98%

Debt and Capital Lease Obligations - Schedule of Asset-Backed Notes (Details) - VIE - USD ($)			12 Months Ended
	Aug. 15, 2018	Dec. 20, 2017	Jan. 31, 2020	Jan. 31, 2019
Debt Instrument [Line Items]
Long-term Debt			$ 768,121,000	$ 461,628,000
Current Principal Amount			773,032,000	410,724,000
Asset-backed notes
Debt Instrument [Line Items]
Original Principal Amount			1,304,690,000
Original Net Proceeds			1,295,534,000
Current Principal Amount			773,032,000
Secured debt \| 2017-B Class B Notes
Debt Instrument [Line Items]
Current Principal Amount			0	98,297,000
Secured debt \| 2017-B Class C Notes
Debt Instrument [Line Items]
Original Principal Amount		$ 78,640,000
Original Net Proceeds		$ 77,843,000
Current Principal Amount			59,655,000	78,640,000
Secured debt \| 2018-A Class A Notes
Debt Instrument [Line Items]
Original Principal Amount	$ 219,200,000
Original Net Proceeds	217,832,000
Current Principal Amount			34,112,000	105,971,000
Secured debt \| 2018-A Class B Notes
Debt Instrument [Line Items]
Original Principal Amount	69,550,000
Original Net Proceeds	69,020,000
Current Principal Amount			20,572,000	63,908,000
Secured debt \| 2018-A Class C Notes
Debt Instrument [Line Items]
Original Principal Amount	69,550,000
Original Net Proceeds	$ 68,850,000
Current Principal Amount			$ 20,572,000	$ 63,908,000

Debt and Capital Lease Obligations - Revolving Credit Facility (Details)	12 Months Ended	20 Months Ended
	Jan. 31, 2020 USD ($)	Jan. 31, 2020 USD ($)	Oct. 30, 2015 USD ($)
Debt Instrument [Line Items]
Interest Coverage Ratio for the trailing two quarters must equal or exceed (minimum)	3.34
Interest Coverage Ratio for the quarter must equal or exceed minimum	1.00
Revolving Credit Facility
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 416,800,000	$ 416,800,000
Outstanding letters of credit	2,500,000	2,500,000
Line Of Credit Facility Additional Remaining Borrowing Capacity	$ 201,600,000	$ 201,600,000
Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 650,000,000
Weighted average interest rate	6.40%	6.40%
Restrictions on payment of dividends, amount free from restriction	$ 308,600,000	$ 308,600,000
Sub-facility letters of credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Original Principal Amount	$ 40,000,000.0	$ 40,000,000.0
LIBOR \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Contractual Interest Rate		1.00%
Federal funds rate \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Contractual Interest Rate		0.50%
Minimum \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Unused capacity fee percentage		0.25%
Minimum \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Contractual Interest Rate		2.50%
Minimum \| Base rate \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Contractual Interest Rate		1.50%
Maximum \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Unused capacity fee percentage		0.50%
Maximum \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Contractual Interest Rate		3.25%
Maximum \| Base rate \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Contractual Interest Rate		2.25%

Debt and Capital Lease Obligations - Debt Covenants (Details) $ in Millions	12 Months Ended
	Jan. 31, 2020 USD ($)
Actual
Interest Coverage Ratio for the quarter must equal or exceed minimum	3.29
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	3.34
Leverage Ratio must not exceed maximum	1.98
ABS Excluded Leverage Ratio must not exceed maximum	0.85
Capital Expenditures, net, must not exceed maximum	$ 32.4
Required Minimum/ Maximum
Interest Coverage Ratio for the quarter must equal or exceed minimum	1.00
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	1.50
Leverage Ratio must not exceed maximum	4
ABS Excluded Leverage Ratio must not exceed maximum	2
Capital Expenditures, net, must not exceed maximum	$ 100.0
Cash recovery percent covenant determination period	4 years

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Jan. 31, 2019
Deferred tax assets:
Allowance for doubtful accounts	$ 18,642	$ 22,637
Deferred rent	0	6,200
Deferred gains on sale-leaseback transactions	0	1,447
Deferred revenue	807	908
Indirect tax reserve	3,039	3,025
Inventories	1,796	1,711
DeferredTaxAssetsOperatingLeaseLiability	81,241	0
Stock-based compensation	1,982	1,825
State net operating loss carryforwards	904	1,127
Other	2,614	3,093
Total deferred tax assets	111,025	41,973
Deferred tax liabilities:
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets	(54,492)	0
Vendor prepayments	(1,147)	(1,066)
Sales tax receivable	(4,842)	(4,155)
Property and equipment	(31,627)	(8,694)
Other	(318)	(523)
Total deferred tax liabilities	92,426	14,438
Net deferred tax asset	$ 18,599	$ 27,535

Income Taxes - Components of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Current:
Federal	$ 9,215	$ 29,919	$ (25,891)
Federal	1,611	2,308	1,184
Total current	10,826	32,227	(24,707)
Deferred:
Federal	7,590	(9,419)	49,536
State	(102)	121	342
Total deferred	7,488	(9,298)
Total deferred	7,488	(6,224)	49,878
Provision (benefit) for income taxes	$ 18,314	$ 22,929	$ 25,171

Income Taxes - Reconciliation of Tax Provision at Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Income Tax Disclosure [Abstract]
Income tax provision (benefit) at U.S. federal statutory rate	$ 15,607	$ 20,323	$ 10,696
State income taxes, net of federal benefit	2,011	2,068	1,910
Tax Act and other deferred tax adjustments	(910)	0	13,387
Provision to return adjustments	0	0	(1,142)
Employee benefits	1,873	1,096	0
Other	(267)	(558)	320
Provision (benefit) for income taxes	$ 18,314	$ 22,929	$ 25,171

Income Taxes - Additional Disclosures (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2020	Jan. 31, 2019
Income Tax Disclosure [Abstract]
Current tax benefit related to the change in tax rate	$ 0.3
Blended rate		33.81%
Unrecognized tax benefits that if recognized would affect the annual effective tax rate	$ 3.5		$ 3.5	$ 3.5
Interest and penalties			$ 0.7	$ 0.1

Income Taxes - Changes in Balance of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at February 1	$ (11,625)	$ 0	$ 0
Increases related to prior year tax positions	0	(12,084)	0
Decreases related to prior year tax positions	241	459	0
Balance at January 31	$ (11,384)	$ (11,625)	$ 0

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018	Feb. 01, 2019
Operating Lease, Payments	$ 69,829
Operating Lease, Cost	57,501
Operating Lease, Right-of-Use Asset	242,457	$ 0		$ 227,421
Total rent expense	58,100	52,700	$ 51,400
Operating Leases
2020	75,906
2021	75,660
2022	73,880
2023	68,519
2024	58,024
Thereafter	147,181
Total undiscounted cash flows	499,170
Finance Leases
2020	916
2021	916
2022	661
2023	831
2024	551
Thereafter	3,448
Total undiscounted cash flows	7,323
Lessee, Lease, Liability, Payments, Due	506,493
Lessee, Lease, Liability, Payments, Due After Year Five	150,629
Lessee, Lease, Liability, Payments, Due Year Five	58,575
Lessee, Lease, Liability, Payments, Due Year Four	69,350
Lessee, Lease, Liability, Payments, Due Year Three	74,541
Lessee, Lease, Liability, Payments, Due Year Two	76,576
Lessee, Lease, Liability, Payments, Remainder Of Fiscal Year	76,822
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	122,971
Less: Interest	2,114
Lessee, Lease, Liability, Payments, Undiscounted Excess Amount	125,085
Operating Lease, Liability	376,199
Total lease liabilities	5,209
Finance Lease, Right-of-Use Asset	5,028
Lease, Right-Of-Use Asset	247,485
Gross Operating Lease, Liability, Current	47,118
Finance Lease, Liability, Current	605
Operating Lease, Liability, Noncurrent	329,081	$ 0		$ 300,170
Finance Lease, Liability, Noncurrent	4,604
Lease, Liability	381,408
Operating Lease, Impairment Loss	1,933
Lease, Cost	$ 59,434
Finance Lease, Weighted Average Remaining Lease Term	11 years 2 months 12 days
Operating Lease, Weighted Average Remaining Lease Term	7 years 1 month 24 days
Finance Lease, Weighted Average Discount Rate, Percent	6.10%
Operating Lease, Weighted Average Discount Rate, Percent	8.30%
Lease, Liability, LeaseDatabase	$ 381,408
Maximum \| Land, Buildings and Improvements [Member]
Lessee, Operating Lease, Term of Contract	15 years
Minimum \| Land, Buildings and Improvements [Member]
Lessee, Operating Lease, Term of Contract	5 years

Stock-Based Compensation - Stock-Based Compensation Narrative (Details) - shares		12 Months Ended
	May 31, 2017	Jan. 31, 2020	May 25, 2016
Stock options and restricted stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and restricted stock units vesting period		4 years
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for future issuance (in shares)		1,396,632	1,200,000
Additional shares authorized (in shares)	1,400,000
Number of years until a grant expires		10 years
2003and2011Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Forfeited		795,998
2016Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Forfeited		790,161
Non-Employee Director Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for future issuance (in shares)		120,000
Non-Employee Director Restricted Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for future issuance (in shares)		48,991

Stock-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation cost for share-based compensation	$ 12,550	$ 12,217	$ 8,680
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation cost for share-based compensation	256	263	220
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation cost for share-based compensation	3,978	3,414	236
RSUs and PSUs \| Accelerated RSU expense charged to severance
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation cost for share-based compensation	0	0	602
Performance-Based Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation cost for share-based compensation	$ 8,316	$ 8,540	$ 7,622

Stock-Based Compensation - Stock-Based Compensation Expense Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Recognized tax benefits related to compensation cost	$ 1,400	$ 1,700	$ 1,700
Stock-based compensation expense	$ 12,550	12,217	8,680
Recognition period for unrecognized compensation cost related to all non-vested stock compensation awards	1 year 10 months 16 days
Fair value of stock options vested	$ 8,400	$ 12,600	$ 6,000
Nonvested
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 13,200

Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options exercised	$ 0.4	$ 0.4	$ 2.3
Aggregate intrinsic value of stock options vested and expected to vest and exercisable	0.1
Fair value of stock options vested	8.4	12.6	6.0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock options vested	$ 0.3	$ 0.5	$ 0.9
Incentive Stock Option Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	620,166
Granted (in dollars per share)	$ 0.00	$ 32.35
Number of years until a grant expires		10 years
Expected volatility (as percent)		68.00%
Risk-free interest rate (as percent)		2.69%
Incentive Stock Option Plan \| Stock options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and restricted stock units vesting period		3 years
Fair value at grant date (in dollars per share)		$ 20.00
Expected term		6 years
Incentive Stock Option Plan \| Stock options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and restricted stock units vesting period		4 years
Fair value at grant date (in dollars per share)		$ 21.67
Expected term		7 years

Stock-Based Compensation - Summary of Incentive Stock Option Plan activity (Details) - $ / shares	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019
Shares Under Option
Vested and expected to vest, end of period (in shares)	744,191
Weighted- Average Exercise Price
Vested and expected to vest, end of period (in dollar per shares)	$ 29.73
Weighted- Average Remaining Contractual Life
Vested and expected to vest, end of period	7 years 8 months
Incentive Stock Option Plan \| Stock options
Shares Under Option
Outstanding, beginning of period (in shares)	772,731
Granted (in shares)	0	620,166
Exercised (in shares)	(24,340)
Forfeited (in shares)	(4,200)
Outstanding, end of period (in shares)	744,191	772,731
Exercisable, end of period (in shares)	99,023
Weighted- Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 28.49
Granted (in dollars per share)	0.00	$ 32.35
Exercised (in dollars per share)	9.11
Forfeited (in dollars per share)	4.84
Outstanding, end of period (in dollars per share)	29.73	$ 28.49
Exercisable, end of period (in dollars per share)	$ 16.03
Weighted- Average Remaining Contractual Life
Outstanding, end of period	7 years 8 months
Exercisable, end of period	5 years 3 months

Stock-Based Compensation - Restricted Stock Units (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Apr. 30, 2019	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested		$ 8.1	$ 12.1	$ 5.1
Fair value of shares granted		$ 2.9	$ 7.6	$ 17.2
Performance-Based RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Return on invested capital period (generally)		3 years
Percentage of shares to be vested (as percent)	150.00%
Omnibus Incentive Plan \| Time-Based RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and restricted stock units vesting period		5 years
Omnibus Incentive Plan \| Time-Based RSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and restricted stock units vesting period		3 years

Stock-Based Compensation - Summary of Activity of RSUs (Details)	12 Months Ended
	Jan. 31, 2020 $ / shares shares
RSUs and PSUs
Number of Units
Outstanding, beginning of period (in shares)	1,351,275
Restricted stock units granted (in shares)	142,482
Vested and converted to common stock (in shares)	369,839
Restricted stock units forfeited (in shares)	(41,201)
Outstanding, end of year (in shares)	1,082,717
Omnibus Incentive Plan \| Time-Based RSUs
Number of Units
Outstanding, beginning of period (in shares)	884,275
Restricted stock units granted (in shares)	108,588
Vested and converted to common stock (in shares)	369,839
Restricted stock units forfeited (in shares)	(34,201)
Outstanding, end of year (in shares)	588,823
Weighted-Average Grant Date Fair Value
Nonvested, beginning of year (in dollars per share) \| $ / shares	$ 18.73
Options granted (in dollars per share) \| $ / shares	19.68
Options vested (in dollars per share) \| $ / shares	16.99
Forfeited (in dollars per share) \| $ / shares	20.05
Nonvested, end of year (in dollars per share) \| $ / shares	$ 19.92
Omnibus Incentive Plan \| Performance-Based RSUs
Number of Units
Outstanding, beginning of period (in shares)	467,000
Restricted stock units granted (in shares)	33,894
Vested and converted to common stock (in shares)	0
Restricted stock units forfeited (in shares)	(7,000)
Outstanding, end of year (in shares)	493,894
Weighted-Average Grant Date Fair Value
Nonvested, beginning of year (in dollars per share) \| $ / shares	$ 11.66
Options granted (in dollars per share) \| $ / shares	23.39
Options vested (in dollars per share) \| $ / shares	0.00
Forfeited (in dollars per share) \| $ / shares	11.60
Nonvested, end of year (in dollars per share) \| $ / shares	$ 12.47

Stock-Based Compensation - Employee Stock Purchase Plan (Details) - shares	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	53,459	34,922	57,937
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of fair market value that shares are acquired at (as percent)	85.00%
Number of shares reserved for future issuance (in shares)	718,263

Significant Vendors (Details) - vendor	12 Months Ended
Significant Vendors (Details) - vendor	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Significant Vendors [Abstract]
Number of vendors the company purchased merchandise from	6
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	85.70%	65.30%	62.10%
Vendors \| Vendor A
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	33.60%	25.30%	27.60%
Vendors \| Vendor B
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	16.30%	16.10%	14.80%
Vendors \| Vendor C
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	11.00%	7.00%	6.50%
Vendors \| Vendor D
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	9.60%	6.70%	5.30%
Vendors \| Vendor E
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	9.50%	5.20%	4.10%
Vendors \| Vendor F
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	5.70%	5.00%	3.80%

Defined Contribution Plan (Details) - USD ($)	12 Months Ended
Defined Contribution Plan (Details) - USD ($)	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Retirement Benefits [Abstract]
Maximum employee contribution percentage (as percent)	50.00%
Employer matching percent	100.00%
Percentage contribution which company matches on first 3% of contributions (as percent)	3.00%
Employer matching percent on next 2%	50.00%
Percentage contribution which company matches on next 2% of contributions (as percent)	2.00%
Supplemental contributions by employer	$ 0	$ 0	$ 0
Total matching contribution made by company	$ 1,900,000	$ 1,400,000	$ 1,100,000

Variable Interest Entities (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Oct. 31, 2019	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Assets:
Restricted cash	$ 75,370		$ 59,025
Customer accounts receivable:
Restructured accounts	211,857		183,641
Allowance for uncollectible accounts	(233,804)		(214,879)	$ (203,572)	$ (210,175)
Deferred fees and origination costs	(15,746)		(16,579)
Carrying value of customer accounts receivable, net of allowance for bad debts	1,337,503		1,339,113
Total assets	2,168,769	$ 2,153,151	1,884,907	$ 1,900,799
Liabilities:
Accrued expenses	52,295		54,381
Long-term Debt, Gross	1,029,132
Less deferred debt issuance costs	(6,797)		(5,637)
Long-term Debt less Debt Issuance Cost	768,121		407,993
Total liabilities	1,541,589		1,264,932
VIE \| Warehouse Notes
Liabilities:
Long-term Debt, Gross	0		53,635
Secured debt \| 2019-A VIE Class A Notes [Member]
Liabilities:
Total debt	76,241		0
Secured debt \| 2019-B VIE Class B Notes [Member] [Member]
Liabilities:
Total debt	85,540
Secured debt \| 2019-A VIE Class B Notes [Member]
Liabilities:
Total debt	64,750		0
Secured debt \| 2019-B VIE Class C Notes [Member] [Member]
Liabilities:
Total debt	83,270		0
Secured debt \| 2019-A VIE Class C Notes [Member]
Liabilities:
Total debt	62,510		0
Secured debt \| 2019-B VIE Class A Notes [Member] [Member]
Liabilities:
Total debt	265,810		0
VIE
Assets:
Restricted cash	73,214		57,475
Due from (due to) Conn’s, Inc., net	307		5,504
Customer accounts receivable:
Customer accounts receivable	838,210		538,826
Restructured accounts	147,971		135,834
Allowance for uncollectible accounts	(151,263)		(106,327)
Allowance for no-interest option credit programs	(12,445)		(8,047)
Deferred fees and origination costs	(8,255)		(5,321)
Carrying value of customer accounts receivable, net of allowance for bad debts	814,218		554,965
Total assets	887,739		617,944
Liabilities:
Accrued expenses	5,517		3,939
Other liabilities	7,584		5,513
Long-term Debt, Gross	773,032		410,724
Less deferred debt issuance costs	(4,911)		(2,731)
Total debt	768,121		461,628
Total liabilities	781,222		471,080
VIE \| Warehouse Notes
Liabilities:
Warehouse Notes	0		53,635
VIE \| Secured debt \| 2017-B Class B Notes
Liabilities:
Long-term Debt, Gross	0		98,297
VIE \| Secured debt \| 2017-B Class C Notes
Liabilities:
Long-term Debt, Gross	59,655		78,640
VIE \| Secured debt \| 2018-A Class A Notes
Liabilities:
Long-term Debt, Gross	34,112		105,971
VIE \| Secured debt \| 2018-A Class B Notes
Liabilities:
Long-term Debt, Gross	20,572		63,908
VIE \| Secured debt \| 2018-A Class C Notes
Liabilities:
Long-term Debt, Gross	$ 20,572		$ 63,908

Segment Information - Additional Disclosures (Details)	12 Months Ended
Segment Information - Additional Disclosures (Details)	Jan. 31, 2020 segment store state
Segment Reporting Information [Line Items]
Operating segments \| segment	2
Estimated annual rate of reimbursement (as percent)	2.50%
Number of states in which entity operates \| state	14
Outside of the United States
Segment Reporting Information [Line Items]
Number of retail stores \| store	0

Segment Information - Financial Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended												9 Months Ended	12 Months Ended
	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Oct. 31, 2019	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Segment Reporting Information [Line Items]
Total Net Sales														$ 1,163,235	$ 1,194,674	$ 1,191,967
Cost of Goods and Services Sold	$ 188,038	$ 170,453	$ 182,065	$ 157,228	$ 195,033	$ 166,886	$ 173,627	$ 166,589	$ 200,497	$ 175,591	$ 172,306	$ 171,950		697,784	702,135	720,344
Revenues:
Repair service agreement commissions															101,928	100,383
Other Income		96,005											$ 282,535	380,451	355,139	324,064
Total revenues	412,988	376,127	401,059	353,512	432,982	373,824	384,620	358,387	420,386	373,172	366,647	355,826	1,130,698	1,543,686	1,549,813	1,516,031
Costs and expenses:
Selling, general and administrative expense														503,024	480,561	450,413
Provision for bad debts		45,925											135,707	205,217	198,082	216,875
Charges and credits														3,142	7,780	13,331
Total costs and expenses														1,409,167	1,388,558	1,400,963
Operating income	23,422	30,304	41,774	39,019	53,766	35,473	39,252	32,764	44,841	20,853	29,192	20,182	111,097	134,519	161,255	115,068
Interest expense														59,107	62,704	80,160
Loss on extinguishment of debt														1,094	1,773	3,274
Income before income taxes		15,253											67,153	74,318	96,778	31,634
Property and equipment additions														62,444	37,494	21,327
Depreciation expense														36,841	31,584	30,806
Total assets	2,168,769	2,153,151			1,884,907				1,900,799				2,153,151	2,168,769	1,884,907	1,900,799
Allocation of overhead by operating segments														30,000	36,400	27,600
Amount of reimbursement made by operating segments	412,988	376,127	401,059	353,512	432,982	373,824	384,620	358,387	420,386	373,172	366,647	355,826	$ 1,130,698	1,543,686	1,549,813	1,516,031
Reimbursement
Revenues:
Total revenues														39,100	38,100	37,400
Costs and expenses:
Amount of reimbursement made by operating segments														39,100	38,100	37,400
Retail
Segment Reporting Information [Line Items]
Total Net Sales														1,163,235	1,194,674	1,191,967
Cost of Goods and Services Sold														697,784	702,135	720,344
Revenues:
Repair service agreement commissions															101,928	100,383
Other Income														810	447	341
Total revenues	315,280	280,319	306,265	262,181	338,887	284,053	296,411	275,770	334,535	291,903	286,505	279,365		1,164,045	1,195,121	1,192,308
Costs and expenses:
Selling, general and administrative expense														346,108	328,628	316,325
Provision for bad debts														905	1,009	829
Charges and credits														1,933	2,980	13,331
Total costs and expenses														1,046,730	1,034,752	1,050,829
Operating income	35,748	19,598	36,072	25,897	54,712	35,250	39,238	31,169	48,583	29,586	31,299	32,011		117,315	160,369	141,479
Interest expense														0	0	0
Loss on extinguishment of debt														0	0	0
Income before income taxes														117,315	160,369	141,479
Property and equipment additions														62,244	36,110	21,285
Depreciation expense														35,783	30,739	30,065
Total assets	641,812				405,542				344,327					641,812	405,542	344,327
Amount of reimbursement made by operating segments	315,280	280,319	306,265	262,181	338,887	284,053	296,411	275,770	334,535	291,903	286,505	279,365		1,164,045	1,195,121	1,192,308
Credit
Segment Reporting Information [Line Items]
Total Net Sales														0	0	0
Cost of Goods and Services Sold														0	0	0
Revenues:
Repair service agreement commissions															0	0
Other Income														379,641	354,692	323,723
Total revenues	97,708	95,808	94,794	91,331	94,095	89,771	88,209	82,617	85,851	81,269	80,142	76,461		379,641	354,692	323,723
Costs and expenses:
Selling, general and administrative expense														156,916	151,933	134,088
Provision for bad debts														204,312	197,073	216,046
Charges and credits														1,209	4,800	0
Total costs and expenses														362,437	353,806	350,134
Operating income	(12,326)	10,706	5,702	13,122	(946)	223	14	1,595	(3,742)	(8,733)	(2,107)	(11,829)		17,204	886	(26,411)
Interest expense														59,107	62,704	80,160
Loss on extinguishment of debt														1,094	1,773	3,274
Income before income taxes														(42,997)	(63,591)	(109,845)
Property and equipment additions														200	1,384	42
Depreciation expense														1,058	845	741
Total assets	1,526,957				1,479,365				1,556,472					1,526,957	1,479,365	1,556,472
Amount of reimbursement made by operating segments	$ 97,708	$ 95,808	$ 94,794	$ 91,331	$ 94,095	$ 89,771	$ 88,209	$ 82,617	$ 85,851	$ 81,269	$ 80,142	$ 76,461		379,641	354,692	323,723
Furniture and mattress
Revenues:
Total revenues														370,931	382,975	393,853
Costs and expenses:
Amount of reimbursement made by operating segments														370,931	382,975	393,853
Furniture and mattress \| Retail
Revenues:
Total revenues														370,931	382,975	393,853
Costs and expenses:
Amount of reimbursement made by operating segments														370,931	382,975	393,853
Furniture and mattress \| Credit
Revenues:
Total revenues														0	0	0
Costs and expenses:
Amount of reimbursement made by operating segments														0	0	0
Home appliance
Revenues:
Total revenues														360,441	332,609	337,538
Costs and expenses:
Amount of reimbursement made by operating segments														360,441	332,609	337,538
Home appliance \| Retail
Revenues:
Total revenues														360,441	332,609	337,538
Costs and expenses:
Amount of reimbursement made by operating segments														360,441	332,609	337,538
Home appliance \| Credit
Revenues:
Total revenues														0	0	0
Costs and expenses:
Amount of reimbursement made by operating segments														0	0	0
Consumer electronics
Revenues:
Total revenues														221,449	262,088	248,727
Costs and expenses:
Amount of reimbursement made by operating segments														221,449	262,088	248,727
Consumer electronics \| Retail
Revenues:
Total revenues														221,449	262,088	248,727
Costs and expenses:
Amount of reimbursement made by operating segments														221,449	262,088	248,727
Consumer electronics \| Credit
Revenues:
Total revenues														0	0	0
Costs and expenses:
Amount of reimbursement made by operating segments														0	0	0
Home office
Revenues:
Total revenues														73,074	86,260	80,330
Costs and expenses:
Amount of reimbursement made by operating segments														73,074	86,260	80,330
Home office \| Retail
Revenues:
Total revenues														73,074	86,260	80,330
Costs and expenses:
Amount of reimbursement made by operating segments														73,074	86,260	80,330
Home office \| Credit
Revenues:
Total revenues														0	0	0
Costs and expenses:
Amount of reimbursement made by operating segments														0	0	0
Other
Revenues:
Total revenues														16,529	14,703	17,426
Costs and expenses:
Amount of reimbursement made by operating segments														16,529	14,703	17,426
Other \| Retail
Revenues:
Total revenues														16,529	14,703	17,426
Costs and expenses:
Amount of reimbursement made by operating segments														16,529	14,703	17,426
Other \| Credit
Revenues:
Total revenues														0	0	0
Costs and expenses:
Amount of reimbursement made by operating segments														0	0	0
Product [Member]
Revenues:
Total revenues														1,042,424	1,078,635	1,077,874
Costs and expenses:
Amount of reimbursement made by operating segments														1,042,424	1,078,635	1,077,874
Product [Member] \| Retail
Revenues:
Total revenues														1,042,424	1,078,635	1,077,874
Costs and expenses:
Amount of reimbursement made by operating segments														1,042,424	1,078,635	1,077,874
Product [Member] \| Credit
Revenues:
Total revenues														0	0	0
Costs and expenses:
Amount of reimbursement made by operating segments														0	0	0
RSA Commission [Member]
Revenues:
Total revenues														106,997	101,928	100,383
Costs and expenses:
Amount of reimbursement made by operating segments														106,997	101,928	100,383
RSA Commission [Member] \| Retail
Revenues:
Total revenues														106,997
Costs and expenses:
Amount of reimbursement made by operating segments														106,997
RSA Commission [Member] \| Credit
Revenues:
Total revenues														0
Costs and expenses:
Amount of reimbursement made by operating segments														0
Service [Member]
Revenues:
Total revenues														13,814	14,111	13,710
Costs and expenses:
Amount of reimbursement made by operating segments														13,814	14,111	13,710
Service [Member] \| Retail
Revenues:
Total revenues														13,814	14,111	13,710
Costs and expenses:
Amount of reimbursement made by operating segments														13,814	14,111	13,710
Service [Member] \| Credit
Revenues:
Total revenues														0	0	0
Costs and expenses:
Amount of reimbursement made by operating segments														$ 0	$ 0	$ 0

Guarantor Financial Information - Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Oct. 31, 2019	Feb. 01, 2019	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	$ 5,485			$ 5,912
Restricted cash	75,370			59,025
Customer accounts receivable, net of allowances	673,742	$ 662,002		652,769
Other accounts receivable	68,753			67,078
Inventories	219,756			220,034
Other current assets	15,760			9,576
Total current assets	1,058,866	1,043,744	$ 1,011,411	1,014,394
Investment in and advances to subsidiaries	0			0
Long-term portion of customer accounts receivable, net of allowance	663,761			686,344
Property and equipment, net	173,031			148,983
Deferred Income Tax Assets, Net	18,599	23,242	26,088	27,535
Operating Lease, Right-of-Use Asset	242,457		227,421	0
Other assets	12,055			7,651
Total assets	2,168,769	2,153,151		1,884,907	$ 1,900,799
Current maturities of debt and financing lease obligations	605			54,109
Accounts payable	48,554			71,118
Accrued expenses	63,090			90,335
Operating Lease, Liability, Current	35,390		29,815	0
Other current liabilities	14,631			22,006
Total current liabilities	162,270		225,142	237,568
Deferred rent	0		0	93,127
Operating Lease, Liability, Noncurrent	329,081		300,170	0
Long-term debt and financing lease obligations	1,025,535			901,222
Other long-term liabilities	24,703		25,409	33,015
Total liabilities	1,541,589			1,264,932
Total stockholders’ equity	627,180	626,703	$ 626,135	619,975	$ 535,068	$ 517,790
Total liabilities and stockholders’ equity	2,168,769	$ 2,153,151		1,884,907
Eliminations
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	0			0
Restricted cash	0			0
Customer accounts receivable, net of allowances	0			0
Other accounts receivable	0			0
Inventories	0			0
Other current assets	(3,999)			(8,272)
Total current assets	(3,999)			(8,272)
Investment in and advances to subsidiaries	(939,497)			(962,388)
Long-term portion of customer accounts receivable, net of allowance	0			0
Property and equipment, net	0			0
Deferred Income Tax Assets, Net	0			0
Operating Lease, Right-of-Use Asset	0
Other assets	0			0
Total assets	(943,496)			(970,660)
Current maturities of debt and financing lease obligations	0			0
Accounts payable	0			0
Accrued expenses	(3,999)			(2,768)
Operating Lease, Liability, Current	0
Other current liabilities	0			(5,504)
Total current liabilities	(3,999)			(8,272)
Deferred rent				0
Operating Lease, Liability, Noncurrent	0
Long-term debt and financing lease obligations	0			0
Other long-term liabilities	0			0
Total liabilities	(3,999)			(8,272)
Total stockholders’ equity	(939,497)			(962,388)
Total liabilities and stockholders’ equity	(943,496)			(970,660)
Conn’s, Inc.
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	0			0
Restricted cash	0			0
Customer accounts receivable, net of allowances	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	832,980			815,524
Long-term portion of customer accounts receivable, net of allowance	0			0
Property and equipment, net	0			0
Deferred Income Tax Assets, Net	18,599			27,535
Operating Lease, Right-of-Use Asset	0
Other assets	0			0
Total assets	851,579			843,059
Current maturities of debt and financing lease obligations	0			0
Accounts payable	0			0
Accrued expenses	686			686
Operating Lease, Liability, Current	0
Other current liabilities	0			0
Total current liabilities	686			686
Deferred rent				0
Operating Lease, Liability, Noncurrent	0
Long-term debt and financing lease obligations	223,713			222,398
Other long-term liabilities	0			0
Total liabilities	224,399			223,084
Total stockholders’ equity	627,180			619,975
Total liabilities and stockholders’ equity	851,579			843,059
Guarantors
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	5,485			5,912
Restricted cash	2,156			1,550
Customer accounts receivable, net of allowances	279,978			328,705
Other accounts receivable	68,753			67,078
Inventories	219,756			220,034
Other current assets	19,452			12,344
Total current assets	595,580			635,623
Investment in and advances to subsidiaries	106,517			146,864
Long-term portion of customer accounts receivable, net of allowance	243,307			455,443
Property and equipment, net	173,031			148,983
Deferred Income Tax Assets, Net	0			0
Operating Lease, Right-of-Use Asset	242,457
Other assets	12,055			7,651
Total assets	1,372,947			1,394,564
Current maturities of debt and financing lease obligations	605			474
Accounts payable	48,554			71,118
Accrued expenses	60,886			88,478
Operating Lease, Liability, Current	35,390
Other current liabilities	10,416			24,918
Total current liabilities	155,851			184,988
Deferred rent				93,127
Operating Lease, Liability, Noncurrent	329,081
Long-term debt and financing lease obligations	33,701			270,831
Other long-term liabilities	21,334			30,094
Total liabilities	539,967			579,040
Total stockholders’ equity	832,980			815,524
Total liabilities and stockholders’ equity	1,372,947			1,394,564
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	0			0
Restricted cash				57,475
Customer accounts receivable, net of allowances	393,764			324,064
Other accounts receivable	0			0
Inventories	0			0
Other current assets				5,504
Total current assets	467,285			387,043
Investment in and advances to subsidiaries	0			0
Long-term portion of customer accounts receivable, net of allowance	420,454			230,901
Property and equipment, net	0			0
Deferred Income Tax Assets, Net	0			0
Operating Lease, Right-of-Use Asset	0
Other assets	0			0
Total assets	887,739			617,944
Current maturities of debt and financing lease obligations	0			53,635
Accounts payable	0			0
Accrued expenses				3,939
Operating Lease, Liability, Current	0
Other current liabilities	4,215			2,592
Total current liabilities	9,732			60,166
Deferred rent				0
Operating Lease, Liability, Noncurrent	0
Long-term debt and financing lease obligations	768,121			407,993
Other long-term liabilities	3,369			2,921
Total liabilities	781,222			471,080
Total stockholders’ equity	106,517			146,864
Total liabilities and stockholders’ equity	$ 887,739			$ 617,944

Guarantor Financial Information - Condensed Consolidated Statements of Operations (Details) - USD ($)	3 Months Ended												9 Months Ended	12 Months Ended
	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Oct. 31, 2019	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Total Net Sales														$ 1,163,235,000	$ 1,194,674,000	$ 1,191,967,000
Other Income		$ 96,005,000											$ 282,535,000	380,451,000	355,139,000	324,064,000
Servicing fee revenue														0	0	0
Total revenues	$ 412,988,000	376,127,000	$ 401,059,000	$ 353,512,000	$ 432,982,000	$ 373,824,000	$ 384,620,000	$ 358,387,000	$ 420,386,000	$ 373,172,000	$ 366,647,000	$ 355,826,000	1,130,698,000	1,543,686,000	1,549,813,000	1,516,031,000
Cost of Goods and Services Sold	188,038,000	170,453,000	182,065,000	157,228,000	195,033,000	166,886,000	173,627,000	166,589,000	200,497,000	175,591,000	172,306,000	171,950,000		697,784,000	702,135,000	720,344,000
Selling, general and administrative expense														503,024,000	480,561,000	450,413,000
Provision for bad debts		45,925,000											135,707,000	205,217,000	198,082,000	216,875,000
Charges and credits														3,142,000	7,780,000	13,331,000
Total costs and expenses														1,409,167,000	1,388,558,000	1,400,963,000
Operating income	23,422,000	30,304,000	41,774,000	39,019,000	53,766,000	35,473,000	39,252,000	32,764,000	44,841,000	20,853,000	29,192,000	20,182,000	111,097,000	134,519,000	161,255,000	115,068,000
Interest expense														59,107,000	62,704,000	80,160,000
Loss on extinguishment of debt														1,094,000	1,773,000	3,274,000
Income before income taxes		15,253,000											67,153,000	74,318,000	96,778,000	31,634,000
Provision (benefit) for income taxes														18,314,000	22,929,000	25,171,000
Net income (loss)														56,004,000	73,849,000	6,463,000
Income from consolidated subsidiaries														0	0	0
Net income (loss)	$ 5,052,000	$ 11,469,000	$ 19,974,000	$ 19,509,000	$ 29,476,000	$ 14,630,000	$ 17,011,000	$ 12,732,000	$ 3,201,000	$ 1,569,000	$ 4,273,000	$ (2,580,000)	$ 50,952,000	56,004,000	73,849,000	6,463,000
Eliminations
Condensed Financial Statements, Captions [Line Items]
Total Net Sales														0	0	0
Other Income														0	0	0
Servicing fee revenue														(38,240,000)	(40,947,000)	(63,372,000)
Total revenues														(38,240,000)	(40,947,000)	(63,372,000)
Cost of Goods and Services Sold														0	0	0
Selling, general and administrative expense														(38,240,000)	(40,947,000)	(63,372,000)
Provision for bad debts														0	0	0
Charges and credits														0	0	0
Total costs and expenses														(38,240,000)	(40,947,000)	(63,372,000)
Operating income														0	0	0
Interest expense														0	0	0
Loss on extinguishment of debt														0	0	0
Income before income taxes														0	0	0
Provision (benefit) for income taxes														0	0	0
Net income (loss)														0	0	0
Income from consolidated subsidiaries														(81,314,000)	(53,815,000)	15,666,000
Net income (loss)														(81,314,000)	(53,815,000)	15,666,000
Conn’s, Inc.
Condensed Financial Statements, Captions [Line Items]
Total Net Sales														0	0	0
Other Income														0	0	0
Servicing fee revenue														0	0	0
Total revenues														0	0	0
Cost of Goods and Services Sold														0	0	0
Selling, general and administrative expense														0	0	0
Provision for bad debts														0	0	0
Charges and credits														0	0	0
Total costs and expenses														0	0	0
Operating income														0	0	0
Interest expense														17,777,000	17,782,000	17,772,000
Loss on extinguishment of debt														0	0	0
Income before income taxes														(17,777,000)	(17,782,000)	(17,772,000)
Provision (benefit) for income taxes														(4,381,000)	(4,213,000)	(14,141,000)
Net income (loss)														(13,396,000)	(13,569,000)	(3,631,000)
Income from consolidated subsidiaries														69,399,000	87,418,000	10,094,000
Net income (loss)														56,003,000	73,849,000	6,463,000
Guarantors
Condensed Financial Statements, Captions [Line Items]
Total Net Sales														1,163,235,000	1,194,674,000	1,191,967,000
Other Income														219,442,000	193,583,000	173,539,000
Servicing fee revenue														38,240,000	40,947,000	63,372,000
Total revenues														1,420,917,000	1,429,204,000	1,428,878,000
Cost of Goods and Services Sold														697,784,000	702,135,000	720,344,000
Selling, general and administrative expense														502,398,000	479,995,000	460,698,000
Provision for bad debts														128,230,000	68,056,000	42,677,000
Charges and credits														3,142,000	7,780,000	13,331,000
Total costs and expenses														1,331,554,000	1,257,966,000	1,237,050,000
Operating income														89,363,000	171,238,000	191,828,000
Interest expense														11,986,000	12,498,000	15,978,000
Loss on extinguishment of debt														1,094,000	142,000	349,000
Income before income taxes														76,283,000	158,598,000	175,501,000
Provision (benefit) for income taxes														18,798,000	37,577,000	139,647,000
Net income (loss)														57,485,000	121,021,000	35,854,000
Income from consolidated subsidiaries														11,915,000	(33,603,000)	(25,760,000)
Net income (loss)														69,400,000	87,418,000	10,094,000
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total Net Sales														0	0	0
Other Income														161,009,000	161,556,000	150,525,000
Servicing fee revenue														0	0	0
Total revenues														161,009,000	161,556,000	150,525,000
Cost of Goods and Services Sold														0	0	0
Selling, general and administrative expense														38,866,000	41,513,000	53,087,000
Provision for bad debts														76,987,000	130,026,000	174,198,000
Charges and credits														0	0	0
Total costs and expenses														115,853,000	171,539,000	227,285,000
Operating income														45,156,000	(9,983,000)	(76,760,000)
Interest expense														29,344,000	32,424,000	46,410,000
Loss on extinguishment of debt														0	1,631,000	2,925,000
Income before income taxes														15,812,000	(44,038,000)	(126,095,000)
Provision (benefit) for income taxes														3,897,000	(10,435,000)	(100,335,000)
Net income (loss)														11,915,000	(33,603,000)	(25,760,000)
Income from consolidated subsidiaries														0	0	0
Net income (loss)														$ 11,915,000	$ (33,603,000)	$ (25,760,000)

Guarantor Financial Information - Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 80,066	$ 151,801	$ 50,522
Cash flows from investing activities:
Purchase of customer accounts receivables	0	0	0
Sale of customer accounts receivables	0	0	0
Purchase of property and equipment	(57,546)	(32,814)	(16,918)
Proceeds from asset dispositions	724	0	0
Investment in subsidiary	0
Net cash used in investing activities	(56,822)	(32,814)	(16,918)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	867,750	358,300	1,042,034
Payments on asset-backed notes	(505,442)	(739,875)	(1,000,027)
Borrowings under revolving credit facility	1,625,440	1,836,822	1,717,012
Contribution to (from) subsidiary	0
Payments on Revolving Credit Facility	(1,865,069)	(1,647,322)	(1,817,512)
Borrowings from warehouse facility	0	173,286	79,940
Payment of debt issuance costs and amendment fees	(7,876)	(7,418)	(13,874)
Payments on warehouse facility	(53,635)	(119,650)	(79,940)
Proceeds from stock issued under employee benefit plans	988	1,237	3,318
Tax payments associated with equity-based compensation transactions	(2,216)	(3,342)	(1,182)
Payment from extinguishment of debt	0	(1,178)	(836)
Payments for Repurchase of Common Stock	(66,290)	0	0
Other	(976)	(1,068)	(643)
Net cash used in financing activities	(7,326)	(150,208)	(71,710)
Net change in cash, cash equivalents and restricted cash	15,918	(31,221)	(38,106)
Cash, cash equivalents and restricted cash, beginning of period	64,937	96,158	134,264
Cash, cash equivalents and restricted cash, end of period	80,855	64,937	96,158
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	0	0	0
Cash flows from investing activities:
Purchase of customer accounts receivables	482,788	525,846	1,112,903
Sale of customer accounts receivables	(482,788)	(525,846)	(1,112,903)
Purchase of property and equipment	0	0	0
Proceeds from asset dispositions	0		0
Investment in subsidiary	66,290
Net cash used in investing activities	66,290	0	0
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	0	0	0
Payments on asset-backed notes	0	0	0
Borrowings under revolving credit facility	0	0	0
Contribution to (from) subsidiary	(66,290)
Payments on Revolving Credit Facility	0	0	0
Borrowings from warehouse facility		0
Payment of debt issuance costs and amendment fees	0	0	0
Payments on warehouse facility	0	0
Proceeds from stock issued under employee benefit plans	0	0	0
Tax payments associated with equity-based compensation transactions	0	0	0
Payment from extinguishment of debt		0	0
Payments for Repurchase of Common Stock	0
Other	0	0	0
Net cash used in financing activities	(66,290)	0	0
Net change in cash, cash equivalents and restricted cash	0	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0	0
Cash, cash equivalents and restricted cash, end of period	0	0	0
Conn’s, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(988)	(1,237)	(3,318)
Cash flows from investing activities:
Purchase of customer accounts receivables	0	0	0
Sale of customer accounts receivables	0	0	0
Purchase of property and equipment	0	0	0
Proceeds from asset dispositions	0		0
Investment in subsidiary	0
Net cash used in investing activities	0	0	0
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	0	0	0
Payments on asset-backed notes	0	0	0
Borrowings under revolving credit facility	0	0	0
Contribution to (from) subsidiary	66,290
Payments on Revolving Credit Facility	0	0	0
Borrowings from warehouse facility		0
Payment of debt issuance costs and amendment fees	0	0	0
Payments on warehouse facility	0	0
Proceeds from stock issued under employee benefit plans	988	1,237	3,318
Tax payments associated with equity-based compensation transactions	0	0	0
Payment from extinguishment of debt		0	0
Payments for Repurchase of Common Stock	(66,290)
Other	0	0	0
Net cash used in financing activities	988	1,237	3,318
Net change in cash, cash equivalents and restricted cash	0	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0	0
Cash, cash equivalents and restricted cash, end of period	0	0	0
Guarantors
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	366,536	18,201	(925,182)
Cash flows from investing activities:
Purchase of customer accounts receivables	0	0	0
Sale of customer accounts receivables	0	0	1,112,903
Purchase of property and equipment	(57,546)	(32,814)	(16,918)
Proceeds from asset dispositions	724		0
Investment in subsidiary	(66,290)
Net cash used in investing activities	(123,112)	(32,814)	1,095,985
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	0	0	0
Payments on asset-backed notes	0	(169,443)	(77,104)
Borrowings under revolving credit facility	1,625,440	1,836,822	1,717,012
Contribution to (from) subsidiary	0
Payments on Revolving Credit Facility	(1,865,069)	(1,647,322)	(1,817,512)
Borrowings from warehouse facility		0
Payment of debt issuance costs and amendment fees	(424)	(3,230)	(3,268)
Payments on warehouse facility	0	0
Proceeds from stock issued under employee benefit plans	0	0	0
Tax payments associated with equity-based compensation transactions	(2,216)	(3,342)	(1,182)
Payment from extinguishment of debt		(1,178)	(836)
Payments for Repurchase of Common Stock	0
Other	(976)	(1,068)	(643)
Net cash used in financing activities	(243,245)	11,239	(183,533)
Net change in cash, cash equivalents and restricted cash	179	(3,374)	(12,730)
Cash, cash equivalents and restricted cash, beginning of period	7,462	10,836	23,566
Cash, cash equivalents and restricted cash, end of period	7,641	7,462	10,836
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(285,482)	134,837	979,022
Cash flows from investing activities:
Purchase of customer accounts receivables	(482,788)	(525,846)	(1,112,903)
Sale of customer accounts receivables	482,788	525,846	0
Purchase of property and equipment	0	0	0
Proceeds from asset dispositions	0		0
Investment in subsidiary	0
Net cash used in investing activities	0	0	(1,112,903)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	867,750	358,300	1,042,034
Payments on asset-backed notes	(505,442)	(570,432)	(922,923)
Borrowings under revolving credit facility	0	0	0
Contribution to (from) subsidiary	0
Payments on Revolving Credit Facility	0	0	0
Borrowings from warehouse facility		173,286
Payment of debt issuance costs and amendment fees	(7,452)	(4,188)	(10,606)
Payments on warehouse facility	(53,635)	(119,650)
Proceeds from stock issued under employee benefit plans	0	0	0
Tax payments associated with equity-based compensation transactions	0	0	0
Payment from extinguishment of debt		0	0
Payments for Repurchase of Common Stock	0
Other	0	0	0
Net cash used in financing activities	301,221	(162,684)	108,505
Net change in cash, cash equivalents and restricted cash	15,739	(27,847)	(25,376)
Cash, cash equivalents and restricted cash, beginning of period	57,475	85,322	110,698
Cash, cash equivalents and restricted cash, end of period	$ 73,214	$ 57,475	$ 85,322

Stockholders' Equity (Details) - USD ($)	12 Months Ended
Stockholders' Equity (Details) - USD ($)	Jan. 31, 2020	May 31, 2019
Stockholders' Equity Attributable to Parent [Abstract]
Stock Repurchase Program, Authorized Amount		$ 75.0
Treasury Stock, Shares, Acquired	3,485,441
Treasury Stock Acquired, Average Cost Per Share	$ 19.02
Treasury Stock, Value, Acquired, Cost Method	$ 66,300,000

Quarterly Information (Unaudited) (Details) - USD ($)	3 Months Ended												9 Months Ended	12 Months Ended
Quarterly Information (Unaudited) (Details) - USD ($)	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Oct. 31, 2019	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Revenues [Abstract]
Total revenues	$ 412,988,000	$ 376,127,000	$ 401,059,000	$ 353,512,000	$ 432,982,000	$ 373,824,000	$ 384,620,000	$ 358,387,000	$ 420,386,000	$ 373,172,000	$ 366,647,000	$ 355,826,000	$ 1,130,698,000	$ 1,543,686,000	$ 1,549,813,000	$ 1,516,031,000
Percent of annual revenues (as percent)	26.70%	24.40%	26.00%	22.90%	28.00%	24.10%	24.80%	23.10%	27.70%	24.60%	24.20%	23.50%
Cost of Goods and Services Sold	$ 188,038,000	$ 170,453,000	$ 182,065,000	$ 157,228,000	$ 195,033,000	$ 166,886,000	$ 173,627,000	$ 166,589,000	$ 200,497,000	$ 175,591,000	$ 172,306,000	$ 171,950,000		697,784,000	702,135,000	720,344,000
Operating income [Abstract]
Operating income	23,422,000	30,304,000	41,774,000	39,019,000	53,766,000	35,473,000	39,252,000	32,764,000	44,841,000	20,853,000	29,192,000	20,182,000	111,097,000	134,519,000	161,255,000	115,068,000
Net income (loss)	$ 5,052,000	$ 11,469,000	$ 19,974,000	$ 19,509,000	$ 29,476,000	$ 14,630,000	$ 17,011,000	$ 12,732,000	$ 3,201,000	$ 1,569,000	$ 4,273,000	$ (2,580,000)	$ 50,952,000	$ 56,004,000	$ 73,849,000	$ 6,463,000
Income (loss) per share
Basic (in dollars per share)	$ 0.18	$ 0.39	$ 0.64	$ 0.61	$ 0.93	$ 0.46	$ 0.54	$ 0.40	$ 0.10	$ 0.05	$ 0.14	$ (0.08)	$ 1.65	$ 1.85	$ 2.33	$ 0.21
Diluted (in dollars per share)	$ 0.17	$ 0.39	$ 0.62	$ 0.60	$ 0.91	$ 0.45	$ 0.53	$ 0.39	$ 0.10	$ 0.05	$ 0.14	$ (0.08)	$ 1.62	$ 1.82	$ 2.28	$ 0.20
Retail Segment
Revenues [Abstract]
Total revenues	$ 315,280,000	$ 280,319,000	$ 306,265,000	$ 262,181,000	$ 338,887,000	$ 284,053,000	$ 296,411,000	$ 275,770,000	$ 334,535,000	$ 291,903,000	$ 286,505,000	$ 279,365,000		$ 1,164,045,000	$ 1,195,121,000	$ 1,192,308,000
Cost of Goods and Services Sold														697,784,000	702,135,000	720,344,000
Operating income [Abstract]
Operating income	35,748,000	19,598,000	36,072,000	25,897,000	54,712,000	35,250,000	39,238,000	31,169,000	48,583,000	29,586,000	31,299,000	32,011,000		117,315,000	160,369,000	141,479,000
Credit Segment
Revenues [Abstract]
Total revenues	97,708,000	95,808,000	94,794,000	91,331,000	94,095,000	89,771,000	88,209,000	82,617,000	85,851,000	81,269,000	80,142,000	76,461,000		379,641,000	354,692,000	323,723,000
Cost of Goods and Services Sold														0	0	0
Operating income [Abstract]
Operating income	$ (12,326,000)	$ 10,706,000	$ 5,702,000	$ 13,122,000	$ (946,000)	$ 223,000	$ 14,000	$ 1,595,000	$ (3,742,000)	$ (8,733,000)	$ (2,107,000)	$ (11,829,000)		$ 17,204,000	$ 886,000	$ (26,411,000)

Quarterly Information (Unaudited) Correction of Error (Details) - USD ($)	3 Months Ended												9 Months Ended	12 Months Ended
	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Oct. 31, 2019	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018	Feb. 01, 2019	Jan. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other Income		$ 96,005,000											$ 282,535,000	$ 380,451,000	$ 355,139,000	$ 324,064,000
Total revenues	$ 412,988,000	376,127,000	$ 401,059,000	$ 353,512,000	$ 432,982,000	$ 373,824,000	$ 384,620,000	$ 358,387,000	$ 420,386,000	$ 373,172,000	$ 366,647,000	$ 355,826,000	1,130,698,000	1,543,686,000	1,549,813,000	1,516,031,000
Provision for bad debts		45,925,000											135,707,000	205,217,000	198,082,000	216,875,000
Operating income	23,422,000	30,304,000	41,774,000	39,019,000	53,766,000	35,473,000	39,252,000	32,764,000	44,841,000	20,853,000	29,192,000	20,182,000	111,097,000	134,519,000	161,255,000	115,068,000
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest		15,253,000											67,153,000	74,318,000	96,778,000	31,634,000
Net income (loss)	$ 5,052,000	$ 11,469,000	$ 19,974,000	$ 19,509,000	$ 29,476,000	$ 14,630,000	$ 17,011,000	$ 12,732,000	$ 3,201,000	$ 1,569,000	$ 4,273,000	$ (2,580,000)	$ 50,952,000	$ 56,004,000	$ 73,849,000	$ 6,463,000
Basic (in dollars per share)	$ 0.18	$ 0.39	$ 0.64	$ 0.61	$ 0.93	$ 0.46	$ 0.54	$ 0.40	$ 0.10	$ 0.05	$ 0.14	$ (0.08)	$ 1.65	$ 1.85	$ 2.33	$ 0.21
Diluted (in dollars per share)	$ 0.17	$ 0.39	$ 0.62	$ 0.60	$ 0.91	$ 0.45	$ 0.53	$ 0.39	$ 0.10	$ 0.05	$ 0.14	$ (0.08)	$ 1.62	$ 1.82	$ 2.28	$ 0.20
Customer accounts receivable, net of allowance (includes VIE balances of $393,764 and $324,064, respectively)	$ 673,742,000	$ 662,002,000			$ 652,769,000								$ 662,002,000	$ 673,742,000	$ 652,769,000
Income taxes receivable	4,315,000	2,600,000			407,000								2,600,000	4,315,000	407,000
Assets, Current	1,058,866,000	1,043,744,000			1,014,394,000								1,043,744,000	1,058,866,000	1,014,394,000		$ 1,011,411,000
Deferred Income Tax Assets, Net	18,599,000	23,242,000			27,535,000								23,242,000	18,599,000	27,535,000		26,088,000
Total assets	2,168,769,000	2,153,151,000			1,884,907,000				$ 1,900,799,000				2,153,151,000	2,168,769,000	1,884,907,000	$ 1,900,799,000
Total stockholders’ equity	627,180,000	626,703,000			619,975,000				$ 535,068,000				626,703,000	627,180,000	619,975,000	$ 535,068,000	$ 626,135,000	$ 517,790,000
Liabilities and Equity	$ 2,168,769,000	2,153,151,000			$ 1,884,907,000								2,153,151,000	$ 2,168,769,000	$ 1,884,907,000
Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other Income		97,586,000											284,116,000
Total revenues		377,708,000											1,132,279,000
Provision for bad debts		42,586,000											132,368,000
Operating income		35,224,000											116,017,000
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest		20,173,000											72,073,000
Net income (loss)		$ 15,143,000											$ 54,626,000
Basic (in dollars per share)		$ 0.52											$ 1.77
Diluted (in dollars per share)		$ 0.51											$ 1.74
Customer accounts receivable, net of allowance (includes VIE balances of $393,764 and $324,064, respectively)		$ 666,922,000											$ 666,922,000
Income taxes receivable		1,688,000											1,688,000
Assets, Current		1,047,752,000											1,047,752,000
Deferred Income Tax Assets, Net		22,908,000											22,908,000
Total assets		2,156,825,000											2,156,825,000
Total stockholders’ equity		630,377,000											630,377,000
Liabilities and Equity		2,156,825,000											2,156,825,000
Restatement Adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other Income		(1,581,000)											(1,581,000)
Total revenues		(1,581,000)											(1,581,000)
Provision for bad debts		3,339,000											3,339,000
Operating income		(4,920,000)											(4,920,000)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest		(4,920,000)											(4,920,000)
Net income (loss)		$ (3,674,000)											$ (3,674,000)
Basic (in dollars per share)		$ (0.13)											$ (0.12)
Diluted (in dollars per share)		$ (0.12)											$ (0.12)
Customer accounts receivable, net of allowance (includes VIE balances of $393,764 and $324,064, respectively)		$ (4,920,000)											$ (4,920,000)
Income taxes receivable		912,000											912,000
Assets, Current		(4,008,000)											(4,008,000)
Deferred Income Tax Assets, Net		334,000											334,000
Total assets		(3,674,000)											(3,674,000)
Total stockholders’ equity		(3,674,000)											(3,674,000)
Liabilities and Equity		$ (3,674,000)											$ (3,674,000)

Subsequent Events (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
Subsequent Events (Details) - USD ($) $ in Millions	Mar. 18, 2020	Jan. 31, 2020	Apr. 01, 2020	Oct. 30, 2015
Subsequent Event [Line Items]
Cash recovery percent covenant determination period		4 years
Revolving Credit Facility \| Revolving Credit Facility
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 650.0
Subsequent event \| Revolving Credit Facility
Subsequent Event [Line Items]
Proceeds from Lines of Credit	$ 275.0
Revolving Credit Facility
Subsequent Event [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity		$ 416.8
Revolving Credit Facility \| Subsequent event
Subsequent Event [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity			$ 123.0