0001223389-21-000025 | 10-K | XBRL Viewer

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Jan. 31, 2021	Mar. 22, 2021	Jul. 31, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jan. 31, 2021
Current Fiscal Year End Date	--01-31
Document Transition Report	false
Entity File Number	001-34956
Entity Registrant Name	CONN’S, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1672840
Entity Address, City or Town	2445 Technology Forest Blvd.,
Entity Address, Address Line Two	Suite 800,
Entity Address, City or Town	The Woodlands,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77381
City Area Code	936
Local Phone Number	230-5899
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CONN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 140.4
Entity Common Stock, Shares Outstanding		29,314,850
Documents Incorporated by Reference	Certain information required to be furnished pursuant to Part III of this Form 10-K is set forth in, and is hereby incorporated by reference herein from, Conn’s definitive proxy statement for its 2021 Annual Meeting of Stockholders, to be filed by Conn’s with the Securities and Exchange Commission (“SEC”) pursuant to Regulation 14A within 120 days after January 31, 2021.
Entity Central Index Key	0001223389
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Current assets:
Cash and cash equivalents	$ 9,703	$ 5,485
Restricted cash (includes VIE balances of $48,622 and $73,214, respectively)	50,557	75,370
Accounts Receivable, after Allowance for Credit Loss, Current	478,734	673,742
Other accounts receivable	61,716	68,753
Inventories	196,463	219,756
Income taxes receivable	38,059	4,315
Prepaid expenses and other current assets	8,831	11,445
Total current assets	844,063	1,058,866
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	430,749	663,761
Property and equipment, net	190,962	173,031
Operating lease right-of-use assets	265,798	242,457
Deferred income taxes	9,448	18,599
Other assets	14,064	12,055
Total assets	1,755,084	2,168,769
Current liabilities:
Current finance lease obligations	934	605
Accounts payable	69,367	48,554
Accrued compensation and related expenses	24,944	10,795
Accrued expenses	58,046	52,295
Operating lease liability - current	44,011	35,390
Income taxes payable	1,447	2,394
Deferred revenues and other credits	13,007	12,237
Total current liabilities	211,756	162,270
Operating lease liability - non current	354,598	329,081
Long-term debt and finance lease obligations (includes VIE balances of $411,551 and $768,121 respectively)	608,635	1,025,535
Other long-term liabilities	22,940	24,703
Total liabilities	1,197,929	1,541,589
Commitments and contingencies
Stockholders’ equity:
Preferred Stock, Value, Issued	0	0
Common Stock, Value, Issued	327	321
Treasury Stock, Value	(66,290)	(66,290)
Additional paid-in capital	132,108	122,513
Retained earnings	491,010	570,636
Total stockholders’ equity	557,155	627,180
Total liabilities and stockholders’ equity	1,755,084	2,168,769
Common Stock
Stockholders’ equity:
Total stockholders’ equity	327	321
VIE
Current assets:
Restricted cash (includes VIE balances of $48,622 and $73,214, respectively)	48,622	73,214
Accounts Receivable, after Allowance for Credit Loss, Current	259,811	393,764
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	184,304	420,454
Total assets	487,076	887,739
Current liabilities:
Accrued expenses	3,707	5,517
Total liabilities	$ 419,717	$ 781,222

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Restricted Cash and Cash Equivalents, Current	$ 50,557	$ 75,370
Accounts Receivable, after Allowance for Credit Loss, Current	478,734	673,742
Long-term customer accounts receivable, net	$ 430,749	$ 663,761
Preferred stock, par value (in dollars per share)	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares authorized (in shares)	100,000,000
Common stock, shares issued (in shares)	32,711,623	32,125,055
Treasury stock (in shares)	3,485,441	3,485,441
VIE
Restricted Cash and Cash Equivalents, Current	$ 48,622	$ 73,214
Accounts Receivable, after Allowance for Credit Loss, Current	259,811	393,764
Long-term customer accounts receivable, net	184,304	420,454
Long-term debt	$ 411,551	$ 768,121
Treasury Stock [Member]
Common stock, shares outstanding (in shares)	(3,485,441)	(3,485,441)
Common Stock
Common stock, shares outstanding (in shares)	32,711,623	32,125,055

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	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, 2021	Jan. 31, 2020	Jan. 31, 2019
Revenues:
Total net sales													$ 1,064,311	$ 1,163,235	$ 1,194,674
Finance charges and other revenues													321,714	380,451	355,139
Total revenues	$ 367,791	$ 334,158	$ 366,916	$ 317,160	$ 412,988	$ 376,127	$ 401,059	$ 353,512	$ 432,982	$ 373,824	$ 384,620	$ 358,387	1,386,025	1,543,686	1,549,813
Costs and expenses:
Selling, general and administrative expense													478,767	503,024	480,561
Provision for bad debts													202,003	205,217	198,082
Charges and credits													6,326	3,142	7,780
Total costs and expenses													1,355,411	1,409,167	1,388,558
Operating income	27,291	24,129	41,436	(62,242)	23,422	30,304	41,774	39,019	53,766	35,473	39,252	32,764	30,614	134,519	161,255
Cost of Goods and Services Sold	184,300	160,378	176,623	147,014	188,038	170,453	182,065	157,228	195,033	166,886	173,627	166,589	668,315	697,784	702,135
Interest expense													50,381	59,107	62,704
(Gain) loss on extinguishment of debt													(440)	1,094	1,773
Income (loss) before income taxes													(19,327)	74,318	96,778
Provision (benefit) for income taxes													(16,190)	18,314	22,929
Net income (loss)	$ 25,126	$ 7,419	$ 20,520	$ (56,202)	$ 5,052	$ 11,469	$ 19,974	$ 19,509	$ 29,476	$ 14,630	$ 17,011	$ 12,732	$ (3,137)	$ 56,004	$ 73,849
(Loss) earnings per share:
Basic (in dollars per share)	$ 0.86	$ 0.25	$ 0.71	$ (1.95)	$ 0.18	$ 0.39	$ 0.64	$ 0.61	$ 0.93	$ 0.46	$ 0.54	$ 0.40	$ (0.11)	$ 1.85	$ 2.33
Diluted (in dollars per share)	$ 0.85	$ 0.25	$ 0.70	$ (1.95)	$ 0.17	$ 0.39	$ 0.62	$ 0.60	$ 0.91	$ 0.45	$ 0.53	$ 0.39	$ (0.11)	$ 1.82	$ 2.28
Weighted average common shares outstanding:
Basic (in shares)													29,060,512	30,275,662	31,668,370
Diluted (in shares)													29,060,512	30,814,775	32,374,375
Product [Member]
Revenues:
Total revenues													$ 973,031	$ 1,042,424	$ 1,078,635
RSA Commission [Member]
Revenues:
Total revenues													78,838	106,997	101,928
Service [Member]
Revenues:
Total revenues													$ 12,442	$ 13,814	$ 14,111

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, 2018		31,435,775
Balance at Jan. 31, 2018	$ 535,068	$ 314	$ 101,087		$ 433,667
Balance (ASU 2014-09) at Feb. 01, 2018	$ 956				956
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201409Member
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
Balance at Jan. 31, 2019	619,975	$ 318	111,185		508,472
Balance at Feb. 01, 2019	626,135
Balance (ASU 2016-02) at Feb. 01, 2019	$ 6,160				6,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Balance (in shares) at Jan. 31, 2019		31,788,162
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		(3,485,441)
Balance at Jan. 31, 2020	627,180	$ 321	122,513	$ (66,290)	570,636
Balance (Accounting Standards Update 2016-13 [Member]) at Feb. 01, 2020	$ (76,489)				(76,489)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Balance (in shares) at Jan. 31, 2020		32,125,055		(3,485,441)
Balance at Jan. 31, 2020	$ 627,180	$ 321	122,513	$ (66,290)	570,636
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of options and vesting of restricted stock, net of tax (in shares)		445,895
Exercise of options and vesting of restricted stock, net of withholding tax	$ (1,682)	$ 5	(1,687)
Issuance of common stock under Employee Stock Purchase Plan (in shares)	140,672	140,673
Issuance of common stock under Employee Stock Purchase Plan	$ 698	$ 1	697
Stock-based compensation	10,585		10,585
Net income (loss)	(3,137)				(3,137)
Balance (in shares) at Jan. 31, 2021		32,711,623		(3,485,441)
Balance at Jan. 31, 2021	$ 557,155	$ 327	$ 132,108	$ (66,290)	$ 491,010

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ (3,137)	$ 56,004	$ 73,849
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	41,068	36,841	31,584
Impairment from disposal	29,956	27,577	0
Amortization of debt issuance costs	8,527	9,828	10,640
Provision for bad debts and uncollectible interest	265,929	269,295	250,076
Stock-based compensation expense	9,330	12,550	12,217
Charges, net of credits	6,326	3,142	0
Deferred income taxes	31,323	7,488	(6,224)
Gain on early termination of debt	(440)	0	0
Loss (gain) from current and deferred sale/disposal of property and equipment	497	90	(809)
Tenant improvement allowances received from landlords	21,224	25,914	16,821
Change in operating assets and liabilities:
Customer accounts receivable	63,871	(266,997)	(300,745)
Other accounts receivables	6,595	(5,346)	5,582
Inventories	23,293	278	(8,140)
Other assets	393	(6,983)	20,950
Accounts payable	17,507	(23,041)	(499)
Accrued expenses	15,905	(21,689)	11,158
Increase (Decrease) in Operating Lease Liabilities	(40,384)	(35,816)	0
Income taxes	(35,270)	(9,930)	49,685
Deferred revenues and other credits	(398)	861	(14,344)
Net cash provided by operating activities	462,115	80,066	151,801
Cash flows from investing activities:
Purchases of property and equipment	(55,927)	(57,546)	(32,814)
Proceeds from asset dispositions	0	724	0
Net cash used in investing activities	(55,927)	(56,822)	(32,814)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	240,100	867,750	358,300
Payments on asset-backed notes	(599,144)	(505,442)	(739,875)
Borrowings under revolving credit facility	1,355,362	1,625,440	1,836,822
Payments on revolving credit facility	(1,332,462)	(1,865,069)	(1,647,322)
Borrowings from warehouse facility	0	0	173,286
Payments on warehouse facility	0	(53,635)	(119,650)
Payments for Repurchase of Common Stock	0	(66,290)	0
Payment of debt issuance costs and amendment fees	(4,753)	(7,876)	(7,418)
Proceeds from stock issued under employee stock purchase plan	698	988	1,237
Tax payments associated with equity-based compensation transactions	(1,682)	(2,216)	(3,342)
Payment for extinguishment of debt	(84,324)	0	(1,178)
Other	(578)	(976)	(1,068)
Net cash used in financing activities	(426,783)	(7,326)	(150,208)
Net change in cash, cash equivalents and restricted cash	(20,595)	15,918	(31,221)
Cash, cash equivalents and restricted cash, beginning of period	80,855	64,937	96,158
Cash, cash equivalents and restricted cash, end of period	60,260	80,855	64,937
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	72,741	75,296	0
Right-of-use assets obtained in exchange for new financing lease liabilities	1,653	1,110	0
Right-of-use assets obtained in exchange for new financing lease liabilities	0	0	1,193
Property and equipment purchases not yet paid	7,890	9,717	5,557
Supplemental cash flow data:
Cash interest paid	41,059	50,491	50,568
Cash income taxes paid (refunded), net	$ (11,586)	$ 17,169	$ (20,447)

Summary of Significant Accounting Policies

12 Months Ended

Jan. 31, 2021

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, 2021 and 2020, 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 $7.9 million and $4.0 million as of January 31, 2021 and 2020, respectively.

Restricted Cash. The restricted cash balance as of January 31, 2021 and 2020 includes $41.6 million and $59.7 million, respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $7.0 million and $13.9 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. As discussed in more detail below, effective February 1, 2020 the Company adopted ASC 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Under the newly adopted standard, expected lifetime losses on customer accounts receivable are recognized upon origination through an allowance for credit losses account that is deducted from the customer account receivable balance and presented net thereof. 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. 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”).

On March 27, 2020 the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law to address the economic impact of the COVID-19 pandemic. Under the CARES Act, modifications deemed to be COVID-19 related are not considered a TDR if the loan was current (not more than 30 days past due as of March 31, 2020) and the deferral was executed between April 1, 2020 and the earlier of 60 days after the termination of the COVID-19 national emergency or December 31, 2020. In response to the CARES Act, the Company implemented short-term deferral programs for our customers. The carrying value of the customer receivables on accounts which were current prior to receiving a COVID-19 related deferment was $65.2 million as of January 31, 2021.

Interest Income on Customer Accounts Receivable. Interest income, which includes interest income and amortization of deferred fees and origination costs, is recorded using the interest method and is reflected in finance charges and other revenues. Typically, interest income is recorded until the customer account is paid off or charged-off, and we provide an allowance for estimated uncollectible interest. We reserve for interest that is more than 60 days past due. Any contractual interest income received from customers in excess of the interest income calculated using the interest method is recorded as deferred revenue on our balance sheets. At January 31, 2021 and 2020, there were $8.9 million and $10.6 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, 2021 and 2020, the carrying value of customer accounts receivable in non-accrual status was $8.5 million and $12.5 million, respectively. At January 31, 2021 and 2020, the carrying value of customer accounts receivable that were past due 90 days or more and still accruing interest totaled $111.5 million and $132.7 million, respectively. At January 31, 2021 and January 31, 2020, the carrying value of customer accounts receivable in a bankruptcy status that were less than 60 days past due of $5.2 million and $12.1 million, respectively, were included within the customer receivables balance carried in non-accrual status.

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, 2021, 2020 and 2019, we recorded $122.7 million, $156.6 million and $143.3 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. No software costs were written-off in the years ended January 31, 2021 and 2019. 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. See Note 4, Charges and Credits, for further details regarding fiscal year 2020 write-offs.

Impairment of Long-Lived Assets. Long-lived assets are evaluated for impairment, primarily at the asset group level. The asset group is defined as stores and cross-docks within a distribution center’s service area. We monitor asset group 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 an asset group'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, 2021 and 2019 there were no impairments.

Leases. We determine if an arrangement is a lease at inception. Operating lease right-of-use 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 the commencement date in determining the present value of lease payments. If the estimate of our incremental borrowing rate was changed, our operating lease assets and liabilities could differ materially.

We record lease incentives 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. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise the option. Lease expense is recognized on a straight-line basis over the lease term.

We have made a policy election for all classifications of leases to combine lease and non-lease components and to account for them as a single lease component.

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 $3.5 million as of January 31, 2021 and 2020, respectively.

Revenue Recognition. The Company accounts for revenue under ASC 606 and 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.

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

Sale of Third Party Warranty and Insurance Programs, Including Retrospective Income: We sell repair service agreements (“RSA”) and credit insurance contracts on behalf of unrelated third-parties. The Company has a single performance obligation

associated with these contracts: the delivery of the product to the customer, at which point control transfers. Commissions related to these contracts are recognized in revenue upon delivery of the product. We 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.

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, 2021, we recognized $1.2 million of revenue for customer deposits deferred as of the beginning of the period compared to $1.0 million recognized during the twelve months ended January 31, 2020. During the twelve months ended January 31, 2021, we recognized $4.0 million of revenue for RSA administrative fees deferred as of the beginning of the period compared to $5.1 million recognized during the twelve months ended January 31, 2020.

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 2021, 2020 and 2019, advertising expense was $72.5 million, $84.8 million and $80.5 million, respectively.

Stock-based Compensation. Stock-based compensation expense is recorded for share-based compensation awards, net of actual forfeitures, over the requisite service period using the straight-line method. For equity-classified share-based compensation awards, expense is recognized based on the grant-date fair value. For stock option grants, we use the Black-Scholes model to determine fair value. For grants of restricted stock units, the fair value of the grant is the market value of our stock at the date of issuance. For grants of performance-based restricted stock units, the fair value of the grant is the market value of our stock at the date of issuance adjusted for any market conditions.

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,
	2021	2020	2019
Weighted-average common shares outstanding - Basic	29,060,512	30,275,662	31,668,370
Dilutive effect of stock options, RSUs and PSUs	—	539,113	706,005
Weighted-average common shares outstanding - Diluted	29,060,512	30,814,775	32,374,375

For the years ended January 31, 2021, 2020 and 2019, the weighted-average number of stock options, RSUs, and PSUs not included in the calculation due to their anti-dilutive effect, was 1,097,996, 898,449 and 578,951, 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, 2021, the fair value of the Senior Notes outstanding approximates their carrying value and was determined using Level 1 inputs. At January 31, 2021, the fair value of the asset-backed notes was $416.3 million, compared to the carrying value of $414.0 million, which was determined using Level 2 inputs based on inactive trading activity.

Recent Accounting Pronouncements Adopted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASC 326”). ASU 2016-13 replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (CECL)

methodology. Under the new guidance entities must reserve an allowance for expected credit losses over the life of the loan. The measurement of expected credit losses is applicable to financial assets measured at amortized cost. The allowance for credit losses is a valuation account that is deducted from the customer account receivable’s amortized cost basis to present the net amount expected to be collected. Customer receivables are charged off against the allowance when management deems an account to be uncollectible. 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 are included in the allowance for credit losses.

Effective February 1, 2020, the Company adopted ASU 2016-13 and ASU 2019-04 using the modified retrospective approach. The Company has reviewed its entire portfolio of assets recognized on the balance sheet as of January 31, 2020 and identified Customer Accounts Receivables as the materially impacted asset in-scope of ASC 326. The risk of credit losses from the remaining portfolio of assets was concluded to be immaterial. Upon adoption of ASC 326 the Company recorded a net decrease to retained earnings of $76.5 million as of February 1, 2020. Results for reporting periods prior to February 1, 2020 are not adjusted and continue to be reported in accordance with the Company’s historic accounting policies under previously applicable GAAP.

The allowance for credit losses is measured on a collective (pool) basis where similar risk characteristics exist. Upon adoption of ASC 326, the Company elected to maintain the pools of customer accounts receivable that were previously accounted for under ASC 310 (Non-TDR Non-Re-aged, Non-TDR Re-aged, and TDR). These pools are further segmented based on shared risk attributes, which include the borrower’s FICO score, product class, length of customer relationship and delinquency status. The allowance for credit losses is determined for each pool and added to the pool’s carrying amount to establish a new amortized cost basis. Changes to the allowance for credit losses after adoption are recorded through provision expense.

We have elected to use a risk-based, pool-level segmentation framework to calculate the expected loss rate. This framework is based on our historical gross charge-off history. In addition to adjusted historical gross charge-off rates, estimates of post-charge-off recoveries, including cash payments from customers, sales tax recoveries from taxing jurisdictions, and payments received under credit insurance and repair service agreement (“RSA”) policies are also considered. We also consider forward-looking economic forecasts based on a statistical analysis of economic factors (specifically, forecast of unemployment rates over the reasonable and supportable forecasting period). To the extent that situations and trends arise which are not captured in our model, management will layer on additional qualitative adjustments.

The Company uses a 24-month reasonable and supportable forecast period for the Customer Accounts Receivable portfolio. We estimate losses beyond the 24-month forecast period based on historic loss rates experienced over the life of our historic loan portfolio by loan pool type. We revisit our measurement methodology and assumption annually, or more frequently if circumstances warrant.

The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as a result of the adoption of ASC 326 were as follows:


	Impact of Adoption of ASC 326
(in thousands)	Balance at January 31, 2020		Adjustments due to ASC 326		Balance at February 1, 2020
Assets
Customer accounts receivable	$	673,742	$	(49,700)	$	624,042
Long-term portion of customer accounts receivable	663,761		(48,962)		614,799
Deferred Income Taxes	18,599		22,173		40,772
Stockholders’ Equity
Retained Earnings	$	570,636	$	(76,489)	$	494,147

Leases. 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 that waived the requirement to apply this ASU in the comparative periods presented within the financial statements in the year of adoption.

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 are 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.

Changes due to Securities and Exchange Commission Regulation S-X Rules 13-01 and 13-02. In March 2020, the Securities and Exchange Commission (“SEC”) amended Regulation S-X to create Rules 13-01 and 13-02. These new rules reduce and

simplify financial disclosure requirements for issuers and guarantors of registered debt offerings. Previously, with limited exceptions, a parent entity was required to provide detailed disclosures with regard to guarantors of registered debt offerings within the footnotes to the consolidated financial statements. Under the new regulations, disclosure exceptions have been expanded and required disclosures may be provided within Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations rather than in the notes to the financial statements. Further, summarized guarantor balance sheet and income statements are permitted, with the requirement to provide guarantor cash flow statements eliminated. Summarized guarantor financial statements only need be disclosed for the current fiscal year rather than all years presented in the financial statements as was previously required. The guidance will become effective for filings on or after January 4, 2021, with early adoption permitted.

The Company elected to early adopt the new regulations beginning with the first quarter of fiscal year 2021. Our summarized guarantor financial statements are presented outside the audited financial statements in Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Recent Accounting Pronouncements Yet To Be Adopted.

Simplifying the Accounting for Income Taxes. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, an update intended to simplify various aspects related to accounting for income taxes. This guidance removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This accounting standards update will be effective for us beginning in the first quarter of fiscal 2022, with early adoption permitted. We do not expect the adoption to have a material impact on our consolidated financial statements.

Reference Rate Reform on Financial Reporting. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, an update that provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This accounting standards update was effective upon issuance, with adoption permitted through December 31, 2022. We expect to adopt ASC 2020-04 in the first quarter of fiscal 2022. We do not expect the adoption to have a material impact on our consolidated financial statements.

No other new accounting pronouncements issued or effective as of January 31, 2021 have had or are expected to have a material impact on our consolidated financial statements.

Customer Accounts Receivable

12 Months Ended

Jan. 31, 2021

Receivables [Abstract]

Customer Account Receivable

Customer Accounts Receivable

Customer accounts receivable consisted of the following:


(in thousands)	January 31, 2021		January 31, 2020
Customer accounts receivable (1)	$	1,233,717	$	1,602,037
Deferred fees and origination costs, net	(14,212)		(15,746)
Allowance for no-interest option credit programs	(11,985)		(14,984)
Allowance for uncollectible interest	(21,427)		(23,662)
Carrying value of customer accounts receivable	1,186,093		1,547,645
Allowance for credit losses (2)	(276,610)		(210,142)
Carrying value of customer accounts receivable, net of allowance for bad debts	909,483		1,337,503
Short-term portion of customer accounts receivable, net	(478,734)		(673,742)
Long-term customer accounts receivable, net	$	430,749	$	663,761


	Carrying Value
(in thousands)	January 31, 2021		January 31, 2020
Customer accounts receivable 60+ days past due (3)	$	146,820	$	193,797
Re-aged customer accounts receivable (4)	306,845		455,704
Restructured customer accounts receivable (5)	178,374		211,857

(1)As of January 31, 2021 and 2020, the customer accounts receivable balance included $31.1 million and $43.7 million, respectively, in interest receivable. Net of the allowance for uncollectible interest, interest receivable outstanding as of January 31, 2021 and 2020 was $9.7 million and $20.0 million, respectively.

(2)Our current methodology to estimate expected credit losses utilized macroeconomic forecasts as of January 31, 2021, which incorporated the continued estimated impact of the global COVID-19 outbreak on the U.S. economy. Our forecast utilized economic projections from a major rating service reflecting an increase in unemployment. The allowance for credit losses as of January 31, 2020 is based on an incurred loss model, which reserves for incurred losses in the portfolio as of January 31, 2020.

(3)As of January 31, 2021 and 2020, the carrying value of customer accounts receivable past due one day or greater was $340.8 million and $527.0 million, respectively. These amounts include the 60+ days past due balances shown above.

(4)The re-aged carrying value as of January 31, 2021 and 2020 includes $88.0 million and $131.4 million, respectively, in carrying value that are both 60+ days past due and re-aged.

(5)The restructured carrying value as of January 31, 2021 and 2020 includes $57.1 million and $64.8 million, respectively, in carrying value that are both 60+ days past due and restructured.

The allowance for credit losses included in the current and long-term portion of customer accounts receivable, net as shown in the Condensed Consolidated Balance Sheet were as follows:


(in thousands)	January 31, 2021
Customer accounts receivable - current	$	643,903
Allowance for credit losses for customer accounts receivable - current	(165,169)
Customer accounts receivable, net of allowances	478,734
Customer accounts receivable - non current	563,617
Allowance for credit losses for customer accounts receivable - non current	(132,868)
Long-term portion of customer accounts receivable, net of allowances	430,749
Total customer accounts receivable, net	$	909,483

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


	January 31, 2021
(in thousands)	Customer Accounts Receivable		Restructured Accounts		Total
Allowance at beginning of period	$	145,680	$	88,124	$	233,804
Impact of adoption ASC 326	95,136		3,526		98,662
Provision (1)	185,210		80,276		265,486
Principal charge-offs (2)(5)	(178,777)		(81,142)		(259,919)
Interest charge-offs	(50,060)		(22,721)		(72,781)
Recoveries (3)	22,550		10,235		32,785
Allowance at end of period	$	219,739	$	78,298	$	298,037
Average total customer portfolio balance	$	1,184,174	$	211,254	$	1,395,428


	January 31, 2020
(in thousands)	Customer Accounts Receivable		Restructured Accounts		Total
Allowance at beginning of period	$	147,123	$	67,756	$	214,879
Provision (4)	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 (4)	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

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

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

(3)Recoveries include the principal amount collected during the period for previously charged-off balances.

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

(5)The increase in bad debt charge-offs, net of recoveries, was primarily due to an increase in new customer mix and the impact of difficulties in collection efforts related to the implementation of our new loan management system during the fourth quarter of fiscal year 2020.

We manage our Customer Accounts Receivable portfolio using delinquency as a key credit quality indicator. The following table presents the delinquency distribution of the carrying value of customer accounts receivable by calendar year of origination as of January 31, 2021:


(dollars in thousands)
Delinquency Bucket	2021	2020	2019	2018	Prior	Total	% of Total
Current	$53,855	$458,502	$249,148	$75,599	$8,146	$845,250	71.2%
1-30	—	60,308	61,061	25,190	4,964	151,523	12.8%
31-60	—	14,216	17,613	8,302	2,369	42,500	3.6%
61-90	—	10,601	13,753	6,589	2,009	32,952	2.8%
91+	—	28,041	52,722	24,962	8,143	113,868	9.6%
Total	$53,855	$571,668	$394,297	$140,642	$25,631	$1,186,093	100.0%

Property and Equipment

12 Months Ended

Jan. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:


	Estimated	January 31,
(dollars in thousands)	Useful Lives	2021		2020
Land	—	$	1,644	$	1,644
Buildings	30 years	4,115		4,115
Leasehold improvements	5 to 15 years	313,926		285,524
Equipment and fixtures	3 to 5 years	97,407		92,634
Finance leases	3 to 20 years	9,027		8,032
Construction in progress	—	14,702		8,846
		440,821		400,795
Less accumulated depreciation		(249,859)		(227,764)
		$	190,962	$	173,031

Depreciation expense was approximately $41.1 million, $36.8 million and $31.6 million for the years ended January 31, 2021, 2020 and 2019, 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, 2021

Charges and Credits [Abstract]

Charges and Credits

Charges and credits consisted of the following:


	Year Ended January 31,
(in thousands)	2021		2020		2019
Store and facility closure and relocation costs	$	—	$	1,933	$	—
Legal and professional fees, securities-related litigation, a legal judgment and other legal matters	3,589		—		5,100
Indirect tax audit reserve	—		—		1,943
Employee severance	2,737		—		737
Write-off of capitalized software costs	—		1,209		—
	$	6,326	$	3,142	$	7,780

During the year ended January 31, 2021, we recognized $3.6 million in professional fees associated with non-recurring expenses. In addition, we recognized $2.7 million in severance costs related to a change in the executive management team. 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.

Finance Charges and Other Revenues

12 Months Ended

Jan. 31, 2021

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)	2021		2020		2019
Interest income and fees	$	303,209	$	341,224	$	325,136
Insurance income	17,689		38,417		29,556
Other revenues	816		810		447
Total finance charges and other revenues	$	321,714	$	380,451	$	355,139

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, 2021, 2020 and 2019, interest income and fees reflected provisions for uncollectible interest of $63.9 million, $64.1 million and $52.0 million, respectively. The amount included in interest income and fees related to TDR accounts for the years ended January 31, 2021, 2020 and 2019 is $37.5 million, $35.3 million and $27.2 million, respectively.

Debt and Financing Lease Obligations

12 Months Ended

Jan. 31, 2021

Debt Disclosure [Abstract]

Debt and Capital Lease Obligations

Debt and Financing Lease Obligations

Debt and financing lease obligations consisted of the following:


	January 31,
(in thousands)	2021		2020
Revolving Credit Facility	$	52,000	$	29,100
Senior Notes	141,172		227,000
2017-B VIE Asset-backed Class C Notes	—		59,655
2018-A VIE Asset-backed Class A Notes	—		34,112
2018-A VIE Asset-backed Class B Notes	—		20,572
2018-A VIE Asset-backed Class C Notes	—		20,572
2019-A VIE Asset-backed Class A Notes	19,521		76,241
2019-A VIE Asset-backed Class B Notes	25,069		64,750
2019-A VIE Asset-backed Class C Notes	24,202		62,510
2019-B VIE Asset-backed Class A Notes	17,860		265,810
2019-B VIE Asset-backed Class B Notes	85,540		85,540
2019-B VIE Asset-backed Class C Notes	83,270		83,270
2020-A VIE Asset-backed Class A Notes	93,326		—
2020-A VIE Asset-backed Class B Notes	65,200		—
Financing lease obligations	6,072		5,209
Total debt and financing lease obligations	613,232		1,034,341
Less:
Discount on debt	(524)		(1,404)
Deferred debt issuance costs	(3,139)		(6,797)
Current maturities of long-term debt and financing lease obligations	(934)		(605)
Long-term debt and financing lease obligations	$	608,635	$	1,025,535

Future maturities of debt, excluding financing lease obligations, as of January 31, 2021 are as follows:


(in thousands)
Year Ended January 31,
2022	$	—
2023	193,172
2024	68,792
2025	186,670
2026	158,526
Total	$	607,160

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, 2021, $188.6 million was 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.

On December 28, 2020, the Company retired $85.8 million aggregate principal amount of its Senior Notes in connection with a tender offer.

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, 2021 consisted of the following:


(dollars in thousands)
Asset-Backed Notes	Original Principal Amount		Original Net Proceeds (1)		Current Principal Amount		Issuance Date	Maturity Date	Contractual Interest Rate	Effective Interest Rate (2)
2019-A Class A Notes	$	254,530	$	253,026	$	19,521	4/24/2019	10/16/2023	3.40%	4.43%
2019-A Class B Notes	64,750		64,276		25,069		4/24/2019	10/16/2023	4.36%	4.84%
2019-A Class C Notes	62,510		61,898		24,202		4/24/2019	10/16/2023	5.29%	5.74%
2019-B Class A Notes	317,150		315,417		17,860		11/26/2019	6/17/2024	2.66%	4.32%
2019-B Class B Notes	85,540		84,916		85,540		11/26/2019	6/17/2024	3.62%	4.16%
2019-B Class C Notes	83,270		82,456		83,270		11/26/2019	6/17/2024	4.60%	4.96%
2020-A Class A Notes	174,900		173,716		93,326		10/16/2020	6/16/2025	1.71%	4.08%
2020-A Class B Notes	65,200		64,754		65,200		10/16/2020	6/16/2025	4.27%	5.12%
Total	$	1,107,850	$	1,100,459	$	413,988

(1)After giving effect to debt issuance costs.

(2)For the year ended January 31, 2021, and inclusive of the impact of changes in timing of actual and expected cash flows.

On October 16, 2020, the Company completed the issuance and sale of $240.1 million aggregate principal amount of asset-backed notes secured by the transferred customer accounts receivables and restricted cash held by a consolidated VIE, which resulted in net proceeds to us of $238.5 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 16, 2025 and consist of $174.9 million of 1.71% Asset Backed Fixed Rate Notes, Class A, Series 2020-A and $65.2 million of 4.27% Asset Backed Fixed Rate Notes, Class B, Series 2020-A. Additionally, the Company issued $62.9 million in aggregate principal amount of 7.10% Asset Backed Fixed Rate Notes, Class C, Series 2020-A which mature on June 16, 2025. The interest rate on the Class C, Series 2020-A Notes was reduced to 4.20% in connection with a sale of such notes on February 24, 2021. See Note 17. Subsequent Events, for details.

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.

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, 2021, we had immediately available borrowing capacity of $336.0 million under our Revolving Credit Facility, net of standby letters of credit issued of $22.5 million. We also had $239.5 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 June 5, 2020 we entered into the Third Amendment to our Revolving Credit Facility (the “Third Amendment”). Under the Third Amendment, loans under the Revolving Credit Facility bear interest, at our option, at a rate of LIBOR plus a margin ranging from 3.00% to 3.75% per annum (depending on a pricing grid determined by our total leverage ratio) or the alternate base rate plus a margin ranging from 2.00% to 2.75% per annum (depending on a pricing grid determined by our total leverage ratio). The alternate base rate is a rate per annum equal to the greatest of the prime rate, the federal funds effective rate plus 0.5%, or 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 5.9% for the year ended January 31, 2021.

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, 2021, we were restricted from making

distributions, including repayments of the Senior Notes or other distributions, in excess of $240.1 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, 2021. A summary of the significant financial covenants that govern our Revolving Credit Facility compared to our actual compliance status at January 31, 2021 is presented below:


	Actual	Required Minimum/ Maximum
Interest Coverage Ratio for the quarter must equal or exceed minimum	5.05:1.00	1.00:1.00
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	4.53:1.00	1.50:1.00
Leverage Ratio must not exceed maximum	1.61:1.00	4.50:1.00
ABS Excluded Leverage Ratio must not exceed maximum	0.95:1.00	2.50:1.00
Capital Expenditures, net, must not exceed maximum	$34.7 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, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Deferred tax assets and liabilities consisted of the following:


	January 31,
(in thousands)	2021		2020
Deferred tax assets:
Allowance for doubtful accounts	$	—	$	18,642
Deferred revenue	788		807
Employment tax	1,661		—
Indirect tax reserve	2,927		3,039
Inventories	1,866		1,796
Lease liability	89,411		81,241
Stock-based compensation	2,121		1,982
Net operating loss carryforwards	25,131		904
Other	2,192		2,614
Total deferred tax assets	126,097		111,025
Deferred tax liabilities:
Allowance for doubtful accounts	(9,829)		—
Right-of-use asset	(59,725)		(54,492)
Vendor prepayments	(1,165)		(1,147)
Sales tax receivable	(5,085)		(4,842)
Property and equipment	(40,454)		(31,627)
Other	(391)		(318)
Total deferred tax liabilities	(116,649)		(92,426)
Net deferred tax asset	$	9,448	$	18,599

As of January 31, 2021, the Company had a tax-effected federal net operating loss carryforward of $21.1 million and tax-effected state net operating loss carryforwards of $4.0 million. Our state net operating loss carryforwards begin to expire starting with fiscal year 2030.

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, 2021, 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)	2021		2020		2019
Current:
Federal	$	(47,829)	$	9,215	$	29,919
State	316		1,611		2,308
Total current	(47,513)		10,826		32,227
Deferred:
Federal	31,083		7,590		(9,419)
State	240		(102)		121
Total deferred	31,323		7,488		(9,298)
Provision (benefit) for income taxes	$	(16,190)	$	18,314	$	22,929

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)	2021		2020		2019
Income tax provision (benefit) at U.S. federal statutory rate	$	(4,059)	$	15,607	$	20,323
State income taxes, net of federal benefit	843		2,011		2,068
Tax Act and other deferred tax adjustments	(15,009)		(910)		—
Employee benefits	1,350		1,873		1,096
Other	685		(267)		(558)
Provision (benefit) for income taxes	$	(16,190)	$	18,314	$	22,929

A benefit of $14.9 million was recognized in the current period as a result of net operating loss provisions within the CARES Act (the “Tax Act”) that provide for a five-year carryback of losses.

Federal tax returns for fiscal years subsequent to January 31, 2017, remain subject to examination. Generally, state tax returns for fiscal years subsequent to January 31, 2017 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)	2021		2020		2019
Balance at February 1	$	(11,384)	$	(11,625)	$	—
Increases related to prior year tax positions	—		—		(12,084)
Decreases related to prior year tax positions	1,531		241		459
Balance at January 31	$	(9,853)	$	(11,384)	$	(11,625)

As of January 31, 2021, 2020 and 2019 there are $5.3 million, $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, 2021, 2020 and 2019, the Company recognized interest and penalties of approximately $1.0 million, $0.7 million and $0.1 million, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Leases

12 Months Ended

Jan. 31, 2021

Leases [Abstract]

Leases of Lessee Disclosure

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 years 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 years 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	2021		2020
Assets
Operating lease assets	Operating lease right-of-use assets	$	265,798	$	242,457
Finance lease assets	Property and equipment, net	5,813		5,028
Total leased assets		$	271,611	$	247,485
Liabilities
Operating (1)	Operating lease liability - current	$	53,958	$	47,118
Finance	Current maturities of debt and finance lease obligations	934		605
Operating	Operating lease liability - non current	354,598		329,081
Finance	Long-term debt and finance lease obligations	5,138		4,604
Total lease liabilities		$	414,628	$	381,408

(1)Represents the gross operating lease liability before tenant improvement allowances. As of January 31, 2021 and 2020, we had $9.9 million and $11.7 million of tenant improvement allowances to be remitted by the landlord.


Lease Cost		Year Ended January 31,
(in thousands)	Income statement classification	2021		2020
Operating lease costs (1)	Selling, general and administrative expense	$	63,970	$	57,501
Impairment of ROU asset	Charges and credits	—		1,933
Total operating lease cost		$	63,970	$	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. No impairment was recognized for the year ended January 31, 2021. For the year 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)	2021			2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	73,983		$	69,829
Weighted-average remaining lease term (in years)
Finance leases	9.5			11.2
Operating leases	7.2			7.1
Weighted-average discount rate
Finance leases	5.1		%	6.1		%
Operating leases (1)	7.7		%	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, 2021, 2020 and 2019, total rent expense was $65.1 million, $58.1 million and $52.7 million, respectively.

The following table presents a summary of our minimum contractual commitments and obligations as of January 31, 2021:


(in thousands)	Operating Leases		Finance Leases		Total
Year ending January 31,
2022	$	83,433	$	1,247	$	84,680
2023	82,826		994		83,820
2024	78,176		1,064		79,240
2025	67,984		900		68,884
2026	56,372		606		56,978
Thereafter	165,334		3,194		168,528
Total undiscounted cash flows	534,125		8,005		542,130
Less: Interest	125,569		1,933		127,502
Total lease liabilities	$	408,556	$	6,072	$	414,628

Stock-Based Compensation

12 Months Ended

Jan. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

On May 28, 2020, our stockholders approved the Conn’s, Inc. 2020 Omnibus Incentive Plan (“2020 Plan”). Upon the effectiveness of the 2020 Plan, no further awards were, or may in the future, be granted under any of our prior plans, which include the 2016 Omnibus Incentive Plan (“2016 Plan”), 2011 Non-Employee Director Restricted Stock Plan (“2011 Director Plan”) and the 2003 Non-Employee Director Stock Option Plan (“2003 Director Plan”). The 2020 plan provides for the issuance of 1,800,000 shares of Company common stock plus such number of shares as were, and may become, available under our prior plans. As such, shares subject to an award under the 2020 Plan, the 2016 Plan, the 2011 Plan, the 2011 Director Plan, the 2003 Director Plan or our Amended and Restated 2003 Incentive Stock Option Plan (“2003 Plan”) that lapse, expire, are forfeited or terminated, or are settled in cash will again become available for future grant under the 2020 Plan. During fiscal year 2021, a total of 937,514 shares were transferred to the 2020 Plan from the prior plans: 746,299 shares from the 2016 Omnibus Incentive Plan, 2,224 shares from the 2011 Omnibus Incentive Plan, and 48,991 shares from the 2011 Non-Employee Director Restricted Stock Plan, 140,000 shares from the 2003 Non-Employee Director Stock Option Plan.

Our 2020 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 three years or 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 2020 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.

As of January 31, 2021, shares authorized for future issuance were: 2,632,127 under the 2020 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)	2021		2020		2019
Stock options	$	3,908	$	3,978	$	3,414
RSUs and PSUs	5,058		8,316		8,540
Employee stock purchase plan	364		256		263
Accelerated RSU expense charged to severance	1,255		—		—
	$	10,585	$	12,550	$	12,217

During the years ended January 31, 2021, 2020, and 2019, we recognized tax benefits related to stock-based compensation of $2.3 million, $1.4 million and $1.7 million, respectively. As of January 31, 2021, the total unrecognized compensation cost related to all unvested stock-based compensation awards was $7.9 million and is expected to be recognized over a weighted-average period of 1.9 years. The total fair value of RSUs, PSUs and stock options vested during fiscal years 2021, 2020 and 2019 was $5.1 million, $8.4 million and $12.6 million, respectively, based on the market price at the vesting date.

Stock Options. No stock options were awarded during fiscal year 2021 and 2020. 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 years 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 years 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, 2020	744,191	$	29.73
Granted	—	$	—
Exercised	—	$	—
Forfeited and expired	(24,025)	$	6.81
Outstanding, January 31, 2021	720,166	$	30.49	7.0
Vested and expected to vest, January 31, 2021	720,166	$	30.49	7.0
Exercisable, January 31, 2021	100,000	$	18.98	5.9

No stock options were exercised during the year ended January 31, 2021. During the years ended January 31, 2020 and 2019, the total intrinsic value of stock options exercised was $0.4 million and $0.4 million, respectively. The aggregate intrinsic value of stock options outstanding, vested and expected to vest and exercisable at January 31, 2021 was approximately $0.1 million. The total fair value of common stock options vested during fiscal years 2021, 2020 and 2019 was $0.3 million, $0.3 million and $0.5 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. As of January 31, 2021 there are two PSU awards outstanding. Under the first award, the number of PSUs issued is dependent upon a measurement of earnings before interest, taxes, depreciation and amortization (“EBITDA”) target for the period identified in the grant, which is two fiscal years. In the event EBITDA exceeds the respective predefined target, shares for up to a maximum of 150% of the target award may be awarded. In the event the EBITDA falls below the respective predefined target, a reduced number of shares may be awarded. If the EBITDA falls below the respective threshold performance level, no shares will be awarded. Under the second PSU award the number of PSUs issued is dependent upon attainment of an annualized Total Shareholder Return (“TSR”) target for the period identified in the award, which is three fiscal years. In the event TSR exceeds the

respective defined target, shares for up to a maximum of 150% of the target award will be awarded. In the event TSR falls below the respective predefined target, a reduced number of shares will be awarded. If TSR falls below the respective threshold level, no shares will be awarded. PSUs vest on predetermined schedules, which occurs over three years. RSUs vest on a straight-line basis over their term, which is generally three years 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, 2020	588,823	$	19.92	493,894	$	12.47	1,082,717
Granted	625,808	$	9.17	270,828	$	8.36	896,636
Vested and converted to common stock	(336,304)	$	15.93	(356,844)	$	11.67	(693,148)
Forfeited	(128,433)	$	15.32	(138,298)	$	12.08	(266,731)
Balance, January 31, 2021	749,894	$	13.53	269,580	$	9.61	1,019,474

The total fair value of restricted and performance shares vested during fiscal years 2021, 2020 and 2019 was $4.8 million, $8.1 million, and $12.1 million, respectively, based on the market price at the vesting date. The total fair value of restricted and performance shares granted during fiscal years 2021, 2020 and 2019 was $8.0 million, $2.9 million and $7.6 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, 2021, 2020 and 2019, we issued 140,672, 53,459 and 34,922 shares of common stock, respectively, to employees participating in the plan, leaving 577,591 shares remaining reserved for future issuance under the plan as of January 31, 2021.

Significant Vendors

12 Months Ended

Jan. 31, 2021

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,
	2021		2020		2019
Vendor A	28.9	%	33.6	%	25.3	%
Vendor B	15.4		16.3		16.1
Vendor C	14.0		11.0		7.0
Vendor D	7.8		9.6		6.7
Vendor E	6.8		9.5		5.2
Vendor F	3.1		5.7		5.0
	76.0	%	85.7	%	65.3	%

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, 2021
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. Due to the COVID-19 pandemic, matching contributions were suspended in fiscal year 2021. The matching contributions made by us totaled $1.9 million and $1.4 million during the years ended January 31, 2020 and 2019, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Contingencies	12 Months Ended
Contingencies	Jan. 31, 2021
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 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. On July 26, 2019, the magistrate judge issued a report recommending that defendants’ motion to dismiss the complaint be granted in part and denied in part. On September 25, 2019, the district court adopted the magistrate judge’s report, which permitted MicroCapital to file an amended complaint, which MicroCapital filed on October 30, 2019. Defendants filed their answer to the amended complaint on November 27, 2019. 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 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 (S.D. Tex.) (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 Conn’s. 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 (S.D. Tex.), which was 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. On May 29, 2019, the magistrate judge issued a report, 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 November 1, 2019, the magistrate judge heard argument on the motion to dismiss and postponed certain deadlines. Adopting the report and recommendation issued by the magistrate judge on July 22, 2020, the district court entered an order on September 25, 2020 denying defendant’s motion on the breach of fiduciary duty claims and granting defendants’ motion on the insider trading claims. The district court also allowed plaintiff leave to amend to add 95250 Canada LTEE, which had been omitted from the amended complaint, as a party to the case. Plaintiffs filed a corrected amended complaint on October 21, 2020 in accordance with the district court’s order. 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. This case is stayed until at least July 15, 2021. 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 (former director), 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. This case is abated until at least July 31, 2021. 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, 2021

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, 2021		January 31, 2020
Assets:
Restricted cash	$	48,622	$	73,214
(Due to) due from Conn’s, Inc., net	(5,661)		307
Customer accounts receivable:
Customer accounts receivable	509,574		838,210
Restructured accounts	105,395		147,971
Allowance for uncollectible accounts	(159,849)		(151,263)
Allowance for no-interest option credit programs	(5,502)		(12,445)
Deferred fees and origination costs	(5,503)		(8,255)
Total customer accounts receivable, net	444,115		814,218
Total assets	$	487,076	$	887,739
Liabilities:
Accrued expenses	$	3,707	$	5,517
Other liabilities	4,459		7,584

Long-term debt:
2017-B Class C Notes	—		59,655
2018-A Class A Notes	—		34,112
2018-A Class B Notes	—		20,572
2018-A Class C Notes	—		20,572
2019-A Class A Notes	19,521		76,241
2019-A Class B Notes	25,069		64,750
2019-A Class C Notes	24,202		62,510
2019-B Class A Notes	17,860		265,810
2019-B Class B Notes	85,540		85,540
2019-B Class C Notes	83,270		83,270
2020-A Class A Notes	93,326		—
2020-A Class B Notes	65,200		—
	413,988		773,032
Less deferred debt issuance costs	(2,437)		(4,911)
Total debt	411,551		768,121
Total liabilities	$	419,717	$	781,222

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, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information Operating segments are defined as components of an enterprise that engage in business activities and for which discrete financial information is available that is evaluated on a regular basis by the chief operating decision maker to make decisions about how to allocate resources and assess performance. We are a leading specialty retailer and offer a broad selection of quality, branded durable consumer goods and related services in addition to a proprietary credit solution for our core credit-constrained consumers. We have two operating segments: (i) retail and (ii) credit. Our operating segments complement one another. The retail segment operates primarily through our stores and website. Our retail segment product offerings include furniture and mattresses, home appliances, consumer electronics and home office products from leading global brands across a wide range of price points. Our credit segment offers affordable financing solutions to a large, under-served population of

credit-constrained consumers who typically have limited credit alternatives. Our operating segments provide customers the opportunity to comparison shop across brands with confidence in our competitive prices as well as affordable monthly payment options, next day delivery and installation in the majority of our markets, and product repair service. The operating segments follow the same accounting policies used in our 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, 2021, we operated retail stores in 15 states with no operations outside of the United States. No single customer accounts for more than 10% of our total revenues.

Financial information by segment is presented in the following tables:


	Year Ended January 31, 2021
(in thousands)	Retail		Credit		Total
Revenues:
Furniture and mattress	$	322,770	$	—	$	322,770
Home appliance	390,964		—		390,964
Consumer electronics	172,932		—		172,932
Home office	65,405		—		65,405
Other	20,960		—		20,960
Product sales	973,031		—		973,031
Repair service agreement commissions	78,838		—		78,838
Service revenues	12,442		—		12,442
Total net sales	1,064,311		—		1,064,311
Finance charges and other revenues	816		320,898		321,714
Total revenues	1,065,127		320,898		1,386,025
Costs and expenses:
Cost of goods sold	668,315		—		668,315
Selling, general and administrative expense (1)	335,954		142,813		478,767
Provision for bad debts	443		201,560		202,003
Charges and credits	4,092		2,234		6,326
Total costs and expenses	1,008,804		346,607		1,355,411
Operating income (loss)	56,323		(25,709)		30,614
Interest expense	—		50,381		50,381
(Gain) on extinguishment of debt	—		(440)		(440)
Income (loss) before income taxes	$	56,323	$	(75,650)	$	(19,327)
Additional Disclosures:
Property and equipment additions	$	55,172	$	824	$	55,996
Depreciation expense	$	39,968	$	1,100	$	41,068
	January 31, 2021
(in thousands)	Retail		Credit		Total
Total assets	$	655,666	$	1,099,418	$	1,755,084


	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

(1)For the years ended January 31, 2021, 2020 and 2019, the amount of overhead allocated to each segment reflected in SG&A was $32.0 million, $30.0 million and $36.4 million, respectively. For the years ended January 31, 2021, 2020 and 2019, the amount of reimbursement made to the retail segment by the credit segment was $34.8 million, $39.1 million and $38.1 million, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

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+ Details

Stockholders' Equity (Notes)	12 Months Ended
Stockholders' Equity (Notes)	Jan. 31, 2021
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	15. 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 expired on May 30, 2020. No shares were repurchased during the year ended January 31, 2021. 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, 2021

Quarterly Financial Information Disclosure [Abstract]

Quarterly Information (Unaudited)

The following tables set forth certain quarterly financial data for the years ended January 31, 2021, 2020 and 2019 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 2021
	Quarter Ended
	April 30			July 31			October 31			January 31
Revenues:
Retail Segment	$	230,565		$	279,932		$	259,940		$	294,690
Credit Segment	86,595			86,984			74,218			73,101
Total revenues	$	317,160		$	366,916		$	334,158		$	367,791
Percent of annual revenues	22.9		%	26.5		%	24.1		%	26.5		%
Costs and expenses:
Cost of goods sold	$	147,014		$	176,623		$	160,378		$	184,300
Operating income (loss):
Retail Segment	$	5,209		$	23,188		$	15,245		$	12,681
Credit Segment	(67,451)			18,248			8,884			14,610
Total operating income (loss)	$	(62,242)		$	41,436		$	24,129		$	27,291
Net income (loss)	$	(56,202)		$	20,520		$	7,419		$	25,126
Income (loss) per share
Basic (1)	$	(1.95)		$	0.71		$	0.25		$	0.86
Diluted (1)	$	(1.95)		$	0.70		$	0.25		$	0.85


(dollars in thousands, except per share amounts)	Fiscal Year 2020
	Quarter Ended
	April 30			July 31			October 31			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 (1)	$	0.61		$	0.64		$	0.39		$	0.18
Diluted (1)	$	0.60		$	0.62		$	0.39		$	0.17


	Fiscal Year 2019
(dollars in thousands, except per share amounts)	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 (1)	$	0.40		$	0.54		$	0.46		$	0.93
Diluted (1)	$	0.39		$	0.53		$	0.45		$	0.91

(1)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.

Subsequent Events	12 Months Ended
Subsequent Events	Jan. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Sale of Asset Backed Notes. On February 24, 2021, the Company completed the sale of $62.9 million aggregate principal amount of 4.20% Asset Backed Fixed Rate Notes, Class C, Series 2020-A, which were previously issued and held by the Company. The asset-backed notes are secured by the transferred customer accounts receivables and restricted cash held by a consolidated VIE, which resulted in net proceeds to us of $62.5 million, net of debt issuance costs. Net proceeds from the sale were used to repay amounts outstanding under the Company’s Revolving Credit Facility. Amendment and Restatement of Revolving Credit Facility. On March 29, 2021 the Company entered into the Fifth Amended and Restated Loan and Security Agreement (the “Fifth Amended and Restated Loan Agreement”), by and among the Company, as parent and guarantor, Conn Appliances, Inc., Conn Credit I, LP and Conn Credit Corporation, Inc., as borrowers, certain banks and financial institutions named therein, as lenders, and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders. The Fifth Amended and Restated Loan Agreement, among other things, (1) extended the maturity date of the existing revolving credit facility to March 2025 (originally scheduled to mature in May 2022), (2) expanded the eligibility criteria of certain component definitions of the borrowing base and increased the inventory advance rate thereunder, (3) changed the rates included in the definition of Applicable Margin (as defined in the Fifth Amended and Restated Loan Agreement) and the rate floor included in the definition of LIBOR contained in the Fifth Amended and Restated Loan Agreement, (4) permitted borrowings under the Letter of Credit Subline (as defined in the Fifth Amended and Restated Loan Agreement) to exceed the cap of $40 million to $100 million, solely at the discretion of the Lenders for such amounts in excess of $40 million, (5) modified the incremental facility provisions to hardwire the ability for the borrowers to have such incremental facilities structured as a first-in, last-out (FILO) tranche, and (6) eliminated the additional covenants and certain other restrictions placed on the borrowers during the covenant relief period provided for under the existing revolving credit facility, which included removing the (i) minimum liquidity covenant, (ii) minimum availability covenant, (iii) anti-cash hoarding covenant and (iv) restrictions on (x) making acquisitions and certain other investments, (y) making certain non-ordinary course restricted payments and (z) prepaying certain indebtedness. The foregoing description of the Fifth Amended and Restated Loan Agreement does not purport to be complete and is qualified in its entirety by the full text of the Fifth Amended and Restated Loan Agreement, which is filed with this Annual Report on Form 10-K as Exhibit 10.15, which is incorporated by reference herein. High Yield Note Redemption. On March 15, 2021, we issued a notice of redemption to holders of our Senior Notes for the redemption of all 141,172,000 outstanding aggregate principal amount of the Senior Notes. The redemption date for the Senior Notes will be April 15, 2021. The redemption price for the Senior Notes will be calculated in accordance with the indenture governing the Senior Notes and will be equal to 100% of the principal amount of the Senior Notes being redeemed plus accrued and unpaid interest to, but excluding, the redemption date. After such redemptions, no Senior Notes will remain outstanding. We expect to fund the redemption with borrowings under our revolving credit agreement. The foregoing does not constitute a notice of redemption with respect to the Senior Notes.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jan. 31, 2021

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

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

Use of Estimates

Cash and Cash Equivalents

Restricted cash

Customer accounts receivable

Interest Income on Customer Accounts Receivable

Inventories

Vendor Allowances

Property and Equipment

Internal-Use Software Costs

Impairment of Long-Lived Assets

Leases

We have made a policy election for all classifications of leases to combine lease and non-lease components and to account for them as a single lease component.

Debt Issuance Costs

Revenue Recognition

Deferred Revenue

Expense Classifications

Advertising Costs

Advertising Costs. Advertising costs are expensed as incurred. For fiscal years 2021, 2020 and 2019, advertising expense was $72.5 million, $84.8 million and $80.5 million, respectively.

Stock-Based Compensation

Self-insurance

Income Taxes

Earnings per Share


	Year Ended January 31,
	2021	2020	2019
Weighted-average common shares outstanding - Basic	29,060,512	30,275,662	31,668,370
Dilutive effect of stock options, RSUs and PSUs	—	539,113	706,005
Weighted-average common shares outstanding - Diluted	29,060,512	30,814,775	32,374,375

Contingencies

Fair Value of Financial Instruments

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

New Accounting Pronouncements, Policy [Policy Text Block]

The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as a result of the adoption of ASC 326 were as follows:


	Impact of Adoption of ASC 326
(in thousands)	Balance at January 31, 2020		Adjustments due to ASC 326		Balance at February 1, 2020
Assets
Customer accounts receivable	$	673,742	$	(49,700)	$	624,042
Long-term portion of customer accounts receivable	663,761		(48,962)		614,799
Deferred Income Taxes	18,599		22,173		40,772
Stockholders’ Equity
Retained Earnings	$	570,636	$	(76,489)	$	494,147

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.

Recent Accounting Pronouncements Yet To Be Adopted.

No other new accounting pronouncements issued or effective as of January 31, 2021 have had or are expected to have a material impact on our consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 31, 2021

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,
	2021	2020	2019
Weighted-average common shares outstanding - Basic	29,060,512	30,275,662	31,668,370
Dilutive effect of stock options, RSUs and PSUs	—	539,113	706,005
Weighted-average common shares outstanding - Diluted	29,060,512	30,814,775	32,374,375

Cumulative effect of the changes for adoption of accounting standard

The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet as a result of the adoption of ASC 326 were as follows:


	Impact of Adoption of ASC 326
(in thousands)	Balance at January 31, 2020		Adjustments due to ASC 326		Balance at February 1, 2020
Assets
Customer accounts receivable	$	673,742	$	(49,700)	$	624,042
Long-term portion of customer accounts receivable	663,761		(48,962)		614,799
Deferred Income Taxes	18,599		22,173		40,772
Stockholders’ Equity
Retained Earnings	$	570,636	$	(76,489)	$	494,147

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.

Customer Accounts Receivable (Tables)

12 Months Ended

Jan. 31, 2021

Receivables [Abstract]

Schedule of customer accounts receivable

Customer accounts receivable consisted of the following:


(in thousands)	January 31, 2021		January 31, 2020
Customer accounts receivable (1)	$	1,233,717	$	1,602,037
Deferred fees and origination costs, net	(14,212)		(15,746)
Allowance for no-interest option credit programs	(11,985)		(14,984)
Allowance for uncollectible interest	(21,427)		(23,662)
Carrying value of customer accounts receivable	1,186,093		1,547,645
Allowance for credit losses (2)	(276,610)		(210,142)
Carrying value of customer accounts receivable, net of allowance for bad debts	909,483		1,337,503
Short-term portion of customer accounts receivable, net	(478,734)		(673,742)
Long-term customer accounts receivable, net	$	430,749	$	663,761


	Carrying Value
(in thousands)	January 31, 2021		January 31, 2020
Customer accounts receivable 60+ days past due (3)	$	146,820	$	193,797
Re-aged customer accounts receivable (4)	306,845		455,704
Restructured customer accounts receivable (5)	178,374		211,857

(4)The re-aged carrying value as of January 31, 2021 and 2020 includes $88.0 million and $131.4 million, respectively, in carrying value that are both 60+ days past due and re-aged.

(5)The restructured carrying value as of January 31, 2021 and 2020 includes $57.1 million and $64.8 million, respectively, in carrying value that are both 60+ days past due and restructured.

Accounts Receivable, Allowance for Credit Loss

The allowance for credit losses included in the current and long-term portion of customer accounts receivable, net as shown in the Condensed Consolidated Balance Sheet were as follows:


(in thousands)	January 31, 2021
Customer accounts receivable - current	$	643,903
Allowance for credit losses for customer accounts receivable - current	(165,169)
Customer accounts receivable, net of allowances	478,734
Customer accounts receivable - non current	563,617
Allowance for credit losses for customer accounts receivable - non current	(132,868)
Long-term portion of customer accounts receivable, net of allowances	430,749
Total customer accounts receivable, net	$	909,483

Financing Receivable, Current, Allowance for Credit Loss

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


	January 31, 2021
(in thousands)	Customer Accounts Receivable		Restructured Accounts		Total
Allowance at beginning of period	$	145,680	$	88,124	$	233,804
Impact of adoption ASC 326	95,136		3,526		98,662
Provision (1)	185,210		80,276		265,486
Principal charge-offs (2)(5)	(178,777)		(81,142)		(259,919)
Interest charge-offs	(50,060)		(22,721)		(72,781)
Recoveries (3)	22,550		10,235		32,785
Allowance at end of period	$	219,739	$	78,298	$	298,037
Average total customer portfolio balance	$	1,184,174	$	211,254	$	1,395,428


	January 31, 2020
(in thousands)	Customer Accounts Receivable		Restructured Accounts		Total
Allowance at beginning of period	$	147,123	$	67,756	$	214,879
Provision (4)	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 (4)	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

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

(3)Recoveries include the principal amount collected during the period for previously charged-off balances.

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

Financing Receivable, Past Due


(dollars in thousands)
Delinquency Bucket	2021	2020	2019	2018	Prior	Total	% of Total
Current	$53,855	$458,502	$249,148	$75,599	$8,146	$845,250	71.2%
1-30	—	60,308	61,061	25,190	4,964	151,523	12.8%
31-60	—	14,216	17,613	8,302	2,369	42,500	3.6%
61-90	—	10,601	13,753	6,589	2,009	32,952	2.8%
91+	—	28,041	52,722	24,962	8,143	113,868	9.6%
Total	$53,855	$571,668	$394,297	$140,642	$25,631	$1,186,093	100.0%

Property and Equipment (Tables)

12 Months Ended

Jan. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:


	Estimated	January 31,
(dollars in thousands)	Useful Lives	2021		2020
Land	—	$	1,644	$	1,644
Buildings	30 years	4,115		4,115
Leasehold improvements	5 to 15 years	313,926		285,524
Equipment and fixtures	3 to 5 years	97,407		92,634
Finance leases	3 to 20 years	9,027		8,032
Construction in progress	—	14,702		8,846
		440,821		400,795
Less accumulated depreciation		(249,859)		(227,764)
		$	190,962	$	173,031

Charges and Credits (Tables)

12 Months Ended

Jan. 31, 2021

Charges and Credits [Abstract]

Schedule of Charges and Credits

Charges and credits consisted of the following:


	Year Ended January 31,
(in thousands)	2021		2020		2019
Store and facility closure and relocation costs	$	—	$	1,933	$	—
Legal and professional fees, securities-related litigation, a legal judgment and other legal matters	3,589		—		5,100
Indirect tax audit reserve	—		—		1,943
Employee severance	2,737		—		737
Write-off of capitalized software costs	—		1,209		—
	$	6,326	$	3,142	$	7,780

Finance Charges and Other Revenues (Tables)

12 Months Ended

Jan. 31, 2021

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)	2021		2020		2019
Interest income and fees	$	303,209	$	341,224	$	325,136
Insurance income	17,689		38,417		29,556
Other revenues	816		810		447
Total finance charges and other revenues	$	321,714	$	380,451	$	355,139

Debt and Financing Lease Obligations (Tables)

12 Months Ended

Jan. 31, 2021

Debt Disclosure [Abstract]

Long term debt

Debt and financing lease obligations consisted of the following:


	January 31,
(in thousands)	2021		2020
Revolving Credit Facility	$	52,000	$	29,100
Senior Notes	141,172		227,000
2017-B VIE Asset-backed Class C Notes	—		59,655
2018-A VIE Asset-backed Class A Notes	—		34,112
2018-A VIE Asset-backed Class B Notes	—		20,572
2018-A VIE Asset-backed Class C Notes	—		20,572
2019-A VIE Asset-backed Class A Notes	19,521		76,241
2019-A VIE Asset-backed Class B Notes	25,069		64,750
2019-A VIE Asset-backed Class C Notes	24,202		62,510
2019-B VIE Asset-backed Class A Notes	17,860		265,810
2019-B VIE Asset-backed Class B Notes	85,540		85,540
2019-B VIE Asset-backed Class C Notes	83,270		83,270
2020-A VIE Asset-backed Class A Notes	93,326		—
2020-A VIE Asset-backed Class B Notes	65,200		—
Financing lease obligations	6,072		5,209
Total debt and financing lease obligations	613,232		1,034,341
Less:
Discount on debt	(524)		(1,404)
Deferred debt issuance costs	(3,139)		(6,797)
Current maturities of long-term debt and financing lease obligations	(934)		(605)
Long-term debt and financing lease obligations	$	608,635	$	1,025,535

Aggregate maturities of long-term debt

Future maturities of debt, excluding financing lease obligations, as of January 31, 2021 are as follows:


(in thousands)
Year Ended January 31,
2022	$	—
2023	193,172
2024	68,792
2025	186,670
2026	158,526
Total	$	607,160

Schedule of asset-backed notes

The asset-backed notes outstanding as of January 31, 2021 consisted of the following:


(dollars in thousands)
Asset-Backed Notes	Original Principal Amount		Original Net Proceeds (1)		Current Principal Amount		Issuance Date	Maturity Date	Contractual Interest Rate	Effective Interest Rate (2)
2019-A Class A Notes	$	254,530	$	253,026	$	19,521	4/24/2019	10/16/2023	3.40%	4.43%
2019-A Class B Notes	64,750		64,276		25,069		4/24/2019	10/16/2023	4.36%	4.84%
2019-A Class C Notes	62,510		61,898		24,202		4/24/2019	10/16/2023	5.29%	5.74%
2019-B Class A Notes	317,150		315,417		17,860		11/26/2019	6/17/2024	2.66%	4.32%
2019-B Class B Notes	85,540		84,916		85,540		11/26/2019	6/17/2024	3.62%	4.16%
2019-B Class C Notes	83,270		82,456		83,270		11/26/2019	6/17/2024	4.60%	4.96%
2020-A Class A Notes	174,900		173,716		93,326		10/16/2020	6/16/2025	1.71%	4.08%
2020-A Class B Notes	65,200		64,754		65,200		10/16/2020	6/16/2025	4.27%	5.12%
Total	$	1,107,850	$	1,100,459	$	413,988

(1)After giving effect to debt issuance costs.

(2)For the year ended January 31, 2021, and inclusive of the impact of changes in timing of actual and expected cash flows.

Schedule of debt covenants


	Actual	Required Minimum/ Maximum
Interest Coverage Ratio for the quarter must equal or exceed minimum	5.05:1.00	1.00:1.00
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	4.53:1.00	1.50:1.00
Leverage Ratio must not exceed maximum	1.61:1.00	4.50:1.00
ABS Excluded Leverage Ratio must not exceed maximum	0.95:1.00	2.50:1.00
Capital Expenditures, net, must not exceed maximum	$34.7 million	$100.0 million

Income Taxes (Tables)

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Deferred tax assets and liabilities

Deferred tax assets and liabilities consisted of the following:


	January 31,
(in thousands)	2021		2020
Deferred tax assets:
Allowance for doubtful accounts	$	—	$	18,642
Deferred revenue	788		807
Employment tax	1,661		—
Indirect tax reserve	2,927		3,039
Inventories	1,866		1,796
Lease liability	89,411		81,241
Stock-based compensation	2,121		1,982
Net operating loss carryforwards	25,131		904
Other	2,192		2,614
Total deferred tax assets	126,097		111,025
Deferred tax liabilities:
Allowance for doubtful accounts	(9,829)		—
Right-of-use asset	(59,725)		(54,492)
Vendor prepayments	(1,165)		(1,147)
Sales tax receivable	(5,085)		(4,842)
Property and equipment	(40,454)		(31,627)
Other	(391)		(318)
Total deferred tax liabilities	(116,649)		(92,426)
Net deferred tax asset	$	9,448	$	18,599

Components of provision (benefit) for income taxes

Provision for income taxes consisted of the following:


	Year Ended January 31,
(in thousands)	2021		2020		2019
Current:
Federal	$	(47,829)	$	9,215	$	29,919
State	316		1,611		2,308
Total current	(47,513)		10,826		32,227
Deferred:
Federal	31,083		7,590		(9,419)
State	240		(102)		121
Total deferred	31,323		7,488		(9,298)
Provision (benefit) for income taxes	$	(16,190)	$	18,314	$	22,929

Reconciliation of tax provision at statutory rate


	Year Ended January 31,
(in thousands)	2021		2020		2019
Income tax provision (benefit) at U.S. federal statutory rate	$	(4,059)	$	15,607	$	20,323
State income taxes, net of federal benefit	843		2,011		2,068
Tax Act and other deferred tax adjustments	(15,009)		(910)		—
Employee benefits	1,350		1,873		1,096
Other	685		(267)		(558)
Provision (benefit) for income taxes	$	(16,190)	$	18,314	$	22,929

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)	2021		2020		2019
Balance at February 1	$	(11,384)	$	(11,625)	$	—
Increases related to prior year tax positions	—		—		(12,084)
Decreases related to prior year tax positions	1,531		241		459
Balance at January 31	$	(9,853)	$	(11,384)	$	(11,625)

Leases (Tables)

12 Months Ended

Jan. 31, 2021

Leases [Abstract]

Lease, Cost [Table Text Block]

Supplemental lease information is summarized below:


		January 31,
(in thousands)	Balance sheet classification	2021		2020
Assets
Operating lease assets	Operating lease right-of-use assets	$	265,798	$	242,457
Finance lease assets	Property and equipment, net	5,813		5,028
Total leased assets		$	271,611	$	247,485
Liabilities
Operating (1)	Operating lease liability - current	$	53,958	$	47,118
Finance	Current maturities of debt and finance lease obligations	934		605
Operating	Operating lease liability - non current	354,598		329,081
Finance	Long-term debt and finance lease obligations	5,138		4,604
Total lease liabilities		$	414,628	$	381,408


Lease Cost		Year Ended January 31,
(in thousands)	Income statement classification	2021		2020
Operating lease costs (1)	Selling, general and administrative expense	$	63,970	$	57,501
Impairment of ROU asset	Charges and credits	—		1,933
Total operating lease cost		$	63,970	$	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)	2021			2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	73,983		$	69,829
Weighted-average remaining lease term (in years)
Finance leases	9.5			11.2
Operating leases	7.2			7.1
Weighted-average discount rate
Finance leases	5.1		%	6.1		%
Operating leases (1)	7.7		%	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, 2021:


(in thousands)	Operating Leases		Finance Leases		Total
Year ending January 31,
2022	$	83,433	$	1,247	$	84,680
2023	82,826		994		83,820
2024	78,176		1,064		79,240
2025	67,984		900		68,884
2026	56,372		606		56,978
Thereafter	165,334		3,194		168,528
Total undiscounted cash flows	534,125		8,005		542,130
Less: Interest	125,569		1,933		127,502
Total lease liabilities	$	408,556	$	6,072	$	414,628

Stock-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2021

Share-based Payment Arrangement [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)	2021		2020		2019
Stock options	$	3,908	$	3,978	$	3,414
RSUs and PSUs	5,058		8,316		8,540
Employee stock purchase plan	364		256		263
Accelerated RSU expense charged to severance	1,255		—		—
	$	10,585	$	12,550	$	12,217

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, 2020	744,191	$	29.73
Granted	—	$	—
Exercised	—	$	—
Forfeited and expired	(24,025)	$	6.81
Outstanding, January 31, 2021	720,166	$	30.49	7.0
Vested and expected to vest, January 31, 2021	720,166	$	30.49	7.0
Exercisable, January 31, 2021	100,000	$	18.98	5.9

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, 2020	588,823	$	19.92	493,894	$	12.47	1,082,717
Granted	625,808	$	9.17	270,828	$	8.36	896,636
Vested and converted to common stock	(336,304)	$	15.93	(356,844)	$	11.67	(693,148)
Forfeited	(128,433)	$	15.32	(138,298)	$	12.08	(266,731)
Balance, January 31, 2021	749,894	$	13.53	269,580	$	9.61	1,019,474

Significant Vendors (Tables)

12 Months Ended

Jan. 31, 2021

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,
	2021		2020		2019
Vendor A	28.9	%	33.6	%	25.3	%
Vendor B	15.4		16.3		16.1
Vendor C	14.0		11.0		7.0
Vendor D	7.8		9.6		6.7
Vendor E	6.8		9.5		5.2
Vendor F	3.1		5.7		5.0
	76.0	%	85.7	%	65.3	%

Variable Interest Entities (Tables)

12 Months Ended

Jan. 31, 2021

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, 2021		January 31, 2020
Assets:
Restricted cash	$	48,622	$	73,214
(Due to) due from Conn’s, Inc., net	(5,661)		307
Customer accounts receivable:
Customer accounts receivable	509,574		838,210
Restructured accounts	105,395		147,971
Allowance for uncollectible accounts	(159,849)		(151,263)
Allowance for no-interest option credit programs	(5,502)		(12,445)
Deferred fees and origination costs	(5,503)		(8,255)
Total customer accounts receivable, net	444,115		814,218
Total assets	$	487,076	$	887,739
Liabilities:
Accrued expenses	$	3,707	$	5,517
Other liabilities	4,459		7,584

Long-term debt:
2017-B Class C Notes	—		59,655
2018-A Class A Notes	—		34,112
2018-A Class B Notes	—		20,572
2018-A Class C Notes	—		20,572
2019-A Class A Notes	19,521		76,241
2019-A Class B Notes	25,069		64,750
2019-A Class C Notes	24,202		62,510
2019-B Class A Notes	17,860		265,810
2019-B Class B Notes	85,540		85,540
2019-B Class C Notes	83,270		83,270
2020-A Class A Notes	93,326		—
2020-A Class B Notes	65,200		—
	413,988		773,032
Less deferred debt issuance costs	(2,437)		(4,911)
Total debt	411,551		768,121
Total liabilities	$	419,717	$	781,222

- 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, 2021

Segment Reporting [Abstract]

Financial information by segment

Financial information by segment is presented in the following tables:


	Year Ended January 31, 2021
(in thousands)	Retail		Credit		Total
Revenues:
Furniture and mattress	$	322,770	$	—	$	322,770
Home appliance	390,964		—		390,964
Consumer electronics	172,932		—		172,932
Home office	65,405		—		65,405
Other	20,960		—		20,960
Product sales	973,031		—		973,031
Repair service agreement commissions	78,838		—		78,838
Service revenues	12,442		—		12,442
Total net sales	1,064,311		—		1,064,311
Finance charges and other revenues	816		320,898		321,714
Total revenues	1,065,127		320,898		1,386,025
Costs and expenses:
Cost of goods sold	668,315		—		668,315
Selling, general and administrative expense (1)	335,954		142,813		478,767
Provision for bad debts	443		201,560		202,003
Charges and credits	4,092		2,234		6,326
Total costs and expenses	1,008,804		346,607		1,355,411
Operating income (loss)	56,323		(25,709)		30,614
Interest expense	—		50,381		50,381
(Gain) on extinguishment of debt	—		(440)		(440)
Income (loss) before income taxes	$	56,323	$	(75,650)	$	(19,327)
Additional Disclosures:
Property and equipment additions	$	55,172	$	824	$	55,996
Depreciation expense	$	39,968	$	1,100	$	41,068
	January 31, 2021
(in thousands)	Retail		Credit		Total
Total assets	$	655,666	$	1,099,418	$	1,755,084


	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

Quarterly Information (Unaudited) (Tables)

12 Months Ended

Jan. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information

Quarterly Information (Unaudited)


(dollars in thousands, except per share amounts)	Fiscal Year 2021
	Quarter Ended
	April 30			July 31			October 31			January 31
Revenues:
Retail Segment	$	230,565		$	279,932		$	259,940		$	294,690
Credit Segment	86,595			86,984			74,218			73,101
Total revenues	$	317,160		$	366,916		$	334,158		$	367,791
Percent of annual revenues	22.9		%	26.5		%	24.1		%	26.5		%
Costs and expenses:
Cost of goods sold	$	147,014		$	176,623		$	160,378		$	184,300
Operating income (loss):
Retail Segment	$	5,209		$	23,188		$	15,245		$	12,681
Credit Segment	(67,451)			18,248			8,884			14,610
Total operating income (loss)	$	(62,242)		$	41,436		$	24,129		$	27,291
Net income (loss)	$	(56,202)		$	20,520		$	7,419		$	25,126
Income (loss) per share
Basic (1)	$	(1.95)		$	0.71		$	0.25		$	0.86
Diluted (1)	$	(1.95)		$	0.70		$	0.25		$	0.85


(dollars in thousands, except per share amounts)	Fiscal Year 2020
	Quarter Ended
	April 30			July 31			October 31			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 (1)	$	0.61		$	0.64		$	0.39		$	0.18
Diluted (1)	$	0.60		$	0.62		$	0.39		$	0.17


	Fiscal Year 2019
(dollars in thousands, except per share amounts)	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 (1)	$	0.40		$	0.54		$	0.46		$	0.93
Diluted (1)	$	0.39		$	0.53		$	0.45		$	0.91

(1)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.

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Jan. 31, 2021 USD ($) segment shares	Jan. 31, 2020 USD ($) shares	Jan. 31, 2019 USD ($) shares
Business
Operating segments \| segment	2
Cash and cash equivalents
Credit card deposits in-transit	$ 7,900	$ 4,000
Customer Accounts Receivable
Delinquent accounts charged-off (more than)	209 days
Interest Income on Customer Accounts Receivable
Receivables in non-accrual status	$ 8,500	12,500
Receivables past due	111,500	132,700
Vendor Allowances
Vendor rebates	122,700	156,600	$ 143,300
Internal-Use Software Costs
Write-off of capitalized software costs	0	1,209	0
Impairment of Long-Lived Assets
Impairment charges recorded		3,200
Debt Issuance Costs
Deferred debt issuance costs	(3,139)	(6,797)
Advertising Costs
Advertising expense included in Selling, general and administrative expense	$ 72,500	$ 84,800	$ 80,500
Earnings per Share
Weighted average common shares outstanding - Basic (in shares) \| shares	29,060,512	30,275,662	31,668,370
Dilutive effect of stock options and restricted stock units (in shares) \| shares	0	539,113	706,005
Weighted average common shares outstanding - Diluted (in shares) \| shares	29,060,512	30,814,775	32,374,375
Weighted average number of options not included in the calculation of the dilutive effect of stock options and restricted stock units (in shares) \| shares	1,097,996	898,449	578,951
Fair Value of Financial Instruments
conns_FinancingReceivableRecordedInvestmentCurrent	$ 5,200	$ 12,100
Coronavirus, Aid, Relief, And Economic Securities (CARES) Act, Deferral Program, Accounts Receivable, After Allowance For Credit Loss, Current	65,200
Secured debt
Fair Value of Financial Instruments
Carrying amount of debt	414,000
Secured debt
Fair Value of Financial Instruments
Fair value of debt	$ 416,300
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)	(3,500)
Customer Accounts Receivable
Interest Income on Customer Accounts Receivable
Deferred interest	8,900	10,600
Securitized Receivables Servicer [Member]
Cash and cash equivalents
Restricted cash and cash equivalents	41,600	59,700
Customer deposits
Deferred Revenue
Deferred Revenue, Revenue Recognized	1,200	1,000
RSA administrative fees
Deferred Revenue
Deferred Revenue, Revenue Recognized	4,000	5,100
VIE
Interest Income on Customer Accounts Receivable
Deferred interest	4,459	7,584
Debt Issuance Costs
Deferred debt issuance costs	(2,437)	(4,911)
Fair Value of Financial Instruments
Carrying amount of debt	411,551	768,121
VIE \| Securitized Receivables Servicer [Member]
Cash and cash equivalents
Restricted cash and cash equivalents	$ 7,000	$ 13,900

Summary of Significant Accounting Policies - Recent Accounting Pronouncements Adopted (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Feb. 01, 2020	Jan. 31, 2020	Feb. 01, 2019	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans and Leases Receivable, Allowance	$ 9,900		$ 11,700		$ 10,500
Deferred Income Tax Assets, Net	(9,448)	$ (40,772)	(18,599)	$ (26,088)
Liabilities, Current	211,756		162,270	225,142
Operating lease liability - current	(44,011)		(35,390)	(29,815)
Deferred rent				0
Operating lease liability - non current	354,598		329,081	300,170
Other Liabilities, Noncurrent	22,940		24,703	25,409
Stockholders' Equity Attributable to Parent	557,155		627,180	626,135	619,975		$ 535,068
Accounts Receivable, after Allowance for Credit Loss, Current	478,734	624,042	673,742
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	430,749	614,799	663,761
Retained earnings	491,010	494,147	570,636
Assets, Current	(844,063)		(1,058,866)	(1,011,411)
Operating lease right-of-use assets	265,798		242,457	227,421
Operating Lease, Liability	408,556				340,500
Deferred income taxes	9,448	40,772	18,599	26,088
Operating lease liability - current	44,011		35,390	29,815
Right-of-use assets	265,798		242,457	227,421
Assets, Current	844,063		1,058,866	1,011,411
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent	$ 491,010		$ 570,636		508,472		$ 433,667
Calculated Under Lease Guidance In Effect Before ASC 842
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Income Tax Assets, Net				(1,400)	(27,535)
Liabilities, Current					237,568
Deferred rent					(93,127)
Other Liabilities, Noncurrent				(7,600)	33,015
Stockholders' Equity Attributable to Parent				6,200	619,975
Assets, Current				(3,000)	(1,014,394)
Deferred income taxes				1,400	27,535
Assets, Current				3,000	$ 1,014,394
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent				6,160
ASU 2016-02 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent				6,160
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Income Tax Assets, Net		(22,173)
Stockholders' Equity Attributable to Parent		(76,489)
Accounts Receivable, after Allowance for Credit Loss, Current		(49,700)
Accounts Receivable, after Allowance for Credit Loss, Noncurrent		(48,962)
Retained earnings		(76,489)
Deferred income taxes		22,173
Accounting Standards Update 2016-13 [Member] \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent		$ (76,489)
ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent						$ 956
ASU 2014-09 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent						$ 956
New Accounting Pronouncement Member
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Income Tax Assets, Net				(1,447)
Liabilities, Current				(12,426)
Operating lease liability - current				29,815
Deferred rent				(93,127)
Operating lease liability - non current				300,170
Other Liabilities, Noncurrent				(7,606)
Stockholders' Equity Attributable to Parent				6,160
Assets, Current				(2,983)
Operating lease right-of-use assets				227,421
Deferred income taxes				1,447
Operating lease liability - current				(29,815)
Right-of-use assets				227,421
Assets, Current				$ 2,983

Summary of Significant Accounting Policies Revenue Recognition (Details) - RSA administrative fees	Jan. 31, 2021
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred Revenue, Percent Of Revenue Deferred	5.00%
Deferred Revenue, Percent Of Revenue Deferred	5.00%

Summary of Significant Accounting Policies Business (Details)	12 Months Ended
	Jan. 31, 2021 segment
Business [Abstract]
Operating segments	2

Summary of Significant Accounting Policies Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Jan. 31, 2021	Jan. 31, 2020
Cash and Cash Equivalents [Abstract]
Credit card deposits in-transit	$ 7.9	$ 4.0

Summary of Significant Accounting Policies Restricted Cash (Details) - USD ($) $ in Millions	Jan. 31, 2021	Jan. 31, 2020
Securitized Receivables Servicer [Member]
Restricted cash and cash equivalents	$ 41.6	$ 59.7

Customer Accounts Receivable - Schedule of Customer Accounts Receivable (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Feb. 01, 2020	Jan. 31, 2020
Receivables [Abstract]
Customer accounts receivable (1)	$ 1,233,717		$ 1,602,037
Deferred fees and origination costs, net	(14,212)		(15,746)
Allowance for no-interest option credit programs	(11,985)		(14,984)
Allowance for uncollectible interest	(21,427)		(23,662)
Carrying value of customer accounts receivable	1,186,093		1,547,645
Allowance for credit losses (2)	(276,610)		(210,142)
Carrying value of customer accounts receivable, net of allowance for bad debts	909,483		1,337,503
Short-term portion of customer accounts receivable, net	(478,734)	$ (624,042)	(673,742)
Long-term customer accounts receivable, net	430,749	$ 614,799	663,761
Customer accounts receivable 60 plus days past due	146,820		193,797
Re-aged customer accounts receivable	306,845		455,704
Restructured customer accounts receivable	178,374		211,857
Interest Receivable	31,100		43,700
Interest receivable outstanding net of allowance for uncollectible interest	9,700		20,000
us-gaap_FinancingReceivableRecordedInvestmentPastDue	340,800		527,000
Amounts included within past due and reaged accounts	88,000		131,400
Amounts included within past due and restructured accounts	57,100		64,800
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	53,855
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	571,668
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	394,297
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	140,642
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	25,631
Accounts Receivable, Carrying Value	$ 1,186,093		$ 1,547,645
Percent of Total Accounts Receivable	100.00%
Current [Member]
Receivables [Abstract]
Carrying value of customer accounts receivable	$ 845,250
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	53,855
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	458,502
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	249,148
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	75,599
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	8,146
Accounts Receivable, Carrying Value	$ 845,250
Percent of Total Accounts Receivable	71.20%
Financial Asset, 1 to 29 Days Past Due [Member]
Receivables [Abstract]
Carrying value of customer accounts receivable	$ 151,523
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	60,308
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	61,061
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	25,190
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	4,964
Accounts Receivable, Carrying Value	$ 151,523
Percent of Total Accounts Receivable	12.80%
Financial Asset, 30 to 59 Days Past Due [Member]
Receivables [Abstract]
Carrying value of customer accounts receivable	$ 42,500
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	14,216
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	17,613
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	8,302
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	2,369
Accounts Receivable, Carrying Value	$ 42,500
Percent of Total Accounts Receivable	3.60%
Financial Asset, 60 to 89 Days Past Due [Member]
Receivables [Abstract]
Carrying value of customer accounts receivable	$ 32,952
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	10,601
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	13,753
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	6,589
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	2,009
Accounts Receivable, Carrying Value	$ 32,952
Percent of Total Accounts Receivable	2.80%
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Receivables [Abstract]
Carrying value of customer accounts receivable	$ 113,868
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	28,041
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	52,722
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	24,962
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	8,143
Accounts Receivable, Carrying Value	$ 113,868
Percent of Total Accounts Receivable	9.60%

Customer Accounts Receivable - Account Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Feb. 01, 2020	Jan. 31, 2020
Receivables [Abstract]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 643,903
Accounts Receivable, Allowance for Credit Loss, Current	(165,169)
Accounts Receivable, after Allowance for Credit Loss, Current	478,734	$ 624,042	$ 673,742
Accounts Receivable, before Allowance for Credit Loss, Noncurrent	563,617
Accounts Receivable, Allowance for Credit Loss, Noncurrent	(132,868)
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	430,749	$ 614,799	663,761
Accounts Receivable, after Allowance for Credit Loss	$ 909,483		$ 1,337,503

Customer Accounts Receivable - Allowance for Doubtful Accounts and Uncollectible Interest for Customer Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019	Feb. 01, 2020
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	$ 233,804	$ 214,879	$ 203,572
Provision	265,486	268,606	249,066
Principal charge-offs	(259,919)	(221,847)	(212,813)
Interest charge-offs	(72,781)	(52,887)	(43,742)
Recoveries	32,785	25,053	18,796
Allowance at end of period	298,037	233,804	214,879
Average total customer portfolio balance	1,395,428	1,567,878	1,526,728
Accounts Receivable, before Allowance for Credit Loss, Current	643,903
Accounts Receivable, Allowance for Credit Loss, Current	(165,169)
Accounts Receivable, after Allowance for Credit Loss, Current	478,734	673,742		$ 624,042
Accounts Receivable, before Allowance for Credit Loss, Noncurrent	563,617
Accounts Receivable, Allowance for Credit Loss, Noncurrent	(132,868)
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	430,749	663,761		614,799
Accounts Receivable, after Allowance for Credit Loss	909,483	1,337,503
Accounting Standards Update 2016-13 [Member]
Allowance for Doubtful Accounts Receivable [Roll Forward]
Accounts Receivable, after Allowance for Credit Loss, Current				(49,700)
Accounts Receivable, after Allowance for Credit Loss, Noncurrent				$ (48,962)
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13 [Member]
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	98,662
Allowance at end of period		98,662
Customer Accounts Receivable
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	145,680	147,123	148,856
Provision	185,210	177,250	174,552
Principal charge-offs	(178,777)	(158,773)	(157,789)
Interest charge-offs	(50,060)	(37,850)	(32,432)
Recoveries	22,550	17,930	13,936
Allowance at end of period	219,739	145,680	147,123
Average total customer portfolio balance	1,184,174	1,367,260	1,355,011
Customer Accounts Receivable \| Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13 [Member]
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	95,136
Allowance at end of period		95,136
Restructured Accounts
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	88,124	67,756	54,716
Provision	80,276	91,356	74,514
Principal charge-offs	(81,142)	(63,074)	(55,024)
Interest charge-offs	(22,721)	(15,037)	(11,310)
Recoveries	10,235	7,123	4,860
Allowance at end of period	78,298	88,124	67,756
Average total customer portfolio balance	211,254	200,618	$ 171,717
Restructured Accounts \| Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13 [Member]
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance at beginning of period	$ 3,526
Allowance at end of period		$ 3,526

Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 440,821	$ 400,795
Less accumulated depreciation	(249,859)	(227,764)
Total property and equipment, net	190,962	173,031
Depreciation	41,068	36,841	$ 31,584
Land
Property, Plant and Equipment [Line Items]
Property and equipment gross	1,644	1,644
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 4,115	4,115
Estimated life	30 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 313,926	285,524
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	$ 97,407	92,634
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 leases
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 9,027	8,032
Finance leases \| Minimum
Property, Plant and Equipment [Line Items]
Estimated life	3 years
Finance 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	$ 14,702	$ 8,846

Property and Equipment - Additional Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation	$ 41,068	$ 36,841	$ 31,584

Charges and Credits (Details) - USD ($) $ in Thousands	12 Months Ended
Charges and Credits (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
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	$ 0	1,933	0
Legal and professional fees, securities-related litigation, a legal judgment and other legal matters	3,589	0	5,100
Indirect tax audit reserve	0	0	1,943
Employee severance	2,737	0	737
Write-off of capitalized software costs	0	1,209	0
Charges and credits	$ 6,326	3,142	$ 7,780
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Impairment of Leasehold		$ 3,200

Finance Charges and Other Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Financing Receivable, Modifications [Line Items]
Interest income and fees	$ 303,209	$ 341,224	$ 325,136
Insurance income	17,689	38,417	29,556
Other FCO Revenue	816	810	447
Total finance charges and other revenues	321,714	380,451	355,139
Provisions for uncollectible interest	63,900	64,100	52,000
TDR accounts
Financing Receivable, Modifications [Line Items]
Interest income and fees	$ 37,500	$ 35,300	$ 27,200

Debt and Financing Lease Obligations - Schedule of Debt and Financing Lease Obligations (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Debt Instrument [Line Items]
Current Principal Amount	$ 607,160
Financing lease obligations	6,072	$ 5,209
Total debt and financing lease obligations	613,232	1,034,341
Discount on debt	(524)	(1,404)
Deferred debt issuance costs	(3,139)	(6,797)
Current maturities of long-term debt and financing lease obligations	(934)	(605)
Long-term debt and capital lease obligations	608,635	1,025,535
2020-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Long-term debt	93,326
2020-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Long-term debt	65,200
Senior Notes
Debt Instrument [Line Items]
Current Principal Amount	141,172	227,000
Secured debt
Debt Instrument [Line Items]
Long-term debt	414,000
Secured debt \| 2017-B Class C Notes
Debt Instrument [Line Items]
Current Principal Amount	0	59,655
Secured debt \| 2018-A Class A Notes
Debt Instrument [Line Items]
Current Principal Amount	0	34,112
Secured debt \| 2018-A Class B Notes
Debt Instrument [Line Items]
Current Principal Amount	0	20,572
Secured debt \| 2018-A Class C Notes
Debt Instrument [Line Items]
Current Principal Amount	0	20,572
Secured debt \| 2019-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Long-term debt	19,521	76,241
Secured debt \| 2019-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Long-term debt	25,069	64,750
Secured debt \| 2019-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Long-term debt	24,202	62,510
Secured debt \| 2020-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Long-term debt	93,326	0
Secured debt \| 2020-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Long-term debt	65,200	0
Secured debt \| 2019-B VIE Class A Notes
Debt Instrument [Line Items]
Long-term debt	17,860	265,810
Secured debt \| 2019-B VIE Class B Notes
Debt Instrument [Line Items]
Long-term debt	85,540	85,540
Secured debt \| 2019-B VIE Class C Notes
Debt Instrument [Line Items]
Long-term debt	83,270	83,270
Revolving Credit Facility
Debt Instrument [Line Items]
Deferred debt issuance costs	(3,500)	(3,500)
Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Current Principal Amount	$ 52,000	$ 29,100

Debt and Financing Lease Obligations - Maturities of Long-term Debt (Details) $ in Thousands	Jan. 31, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ 0
2023	193,172
2024	68,792
2025	186,670
2026	158,526
Total	$ 607,160

Debt and Financing Lease Obligations - Senior Notes (Details) - Senior Notes - USD ($)	Jan. 31, 2021	Dec. 28, 2020	Jul. 01, 2014
Debt Instrument [Line Items]
Debt Instrument, Repurchased Face Amount		$ 85,800,000
Senior unsecured notes due July 2022
Debt Instrument [Line Items]
Original Principal Amount			$ 250,000,000.0
Contractual Interest Rate			7.25%
Effective interest rate percentage			7.80%
Restrictions on payment of dividends, amount free from restriction	$ 188,600,000
Debt default trigger amount			$ 25,000,000.0

Debt and Financing Lease Obligations - Asset-backed Notes (Details) - USD ($) $ in Thousands				12 Months Ended
	Oct. 16, 2020	Nov. 26, 2019	Apr. 24, 2019	Jan. 31, 2021	Jan. 31, 2020
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%
Effective interest rate percentage				4.43%
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%
Effective interest rate percentage				4.84%
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%
Effective interest rate percentage				5.74%
2020-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	$ 174,900
Proceeds from issuance of debt	173,716
Long-term debt				$ 93,326
Contractual Interest Rate				1.71%
Effective interest rate percentage				4.08%
2020-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	65,200
Proceeds from issuance of debt	64,754
Long-term debt				$ 65,200
Contractual Interest Rate				4.27%
Effective interest rate percentage				5.12%
2020-A VIE Class A, B, C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	240,100
Proceeds from issuance of debt	238,500
2020-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	$ 62,900
Contractual Interest Rate	7.10%
2019-B VIE Class A Notes
Debt Instrument [Line Items]
Original Principal Amount		$ 317,150
Proceeds from issuance of debt		315,417
Contractual Interest Rate				2.66%
Effective interest rate percentage				4.32%
2019-B VIE Class B Notes
Debt Instrument [Line Items]
Original Principal Amount		85,540
Proceeds from issuance of debt		84,916
Contractual Interest Rate				3.62%
Effective interest rate percentage				4.16%
2019-B VIE Class C Notes
Debt Instrument [Line Items]
Original Principal Amount		83,270
Proceeds from issuance of debt		$ 82,456
Contractual Interest Rate				4.60%
Effective interest rate percentage				4.96%
Asset-backed receivables
Debt Instrument [Line Items]
Monthly fee received (annualized) (as percent)				4.75%
Secured debt
Debt Instrument [Line Items]
Long-term debt				$ 414,000
Secured debt \| 2019-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Long-term debt				19,521	$ 76,241
Secured debt \| 2019-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Long-term debt				25,069	64,750
Secured debt \| 2019-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Long-term debt				24,202	62,510
Secured debt \| 2020-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Long-term debt				93,326	0
Secured debt \| 2020-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Long-term debt				65,200	0
Secured debt \| 2019-B VIE Class A Notes
Debt Instrument [Line Items]
Long-term debt				17,860	265,810
Secured debt \| 2019-B VIE Class B Notes
Debt Instrument [Line Items]
Long-term debt				85,540	85,540
Secured debt \| 2019-B VIE Class C Notes
Debt Instrument [Line Items]
Long-term debt				$ 83,270	$ 83,270

Debt and Financing Lease Obligations - Schedule of Asset-Backed Notes (Details) - USD ($)		12 Months Ended
	Apr. 24, 2019	Jan. 31, 2021	Jan. 31, 2020
Debt Instrument [Line Items]
Current Principal Amount		$ 607,160,000
2019-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	$ 254,530,000
Original Net Proceeds	253,026,000
Contractual Interest Rate		3.40%
Effective Interest Rate		4.43%
2019-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	64,750,000
Original Net Proceeds	64,276,000
Contractual Interest Rate		4.36%
Effective Interest Rate		4.84%
2019-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	62,510,000
Original Net Proceeds	$ 61,898,000
Contractual Interest Rate		5.29%
Effective Interest Rate		5.74%
Asset-backed notes
Debt Instrument [Line Items]
Original Principal Amount		$ 1,107,850,000
Original Net Proceeds		1,100,459,000
Current Principal Amount		413,988,000
Secured debt
Debt Instrument [Line Items]
Long-term debt		414,000,000.0
Secured debt \| 2017-B Class C Notes
Debt Instrument [Line Items]
Current Principal Amount		0	$ 59,655,000
Secured debt \| 2018-A Class A Notes
Debt Instrument [Line Items]
Current Principal Amount		0	34,112,000
Secured debt \| 2018-A Class B Notes
Debt Instrument [Line Items]
Current Principal Amount		0	20,572,000
Secured debt \| 2018-A Class C Notes
Debt Instrument [Line Items]
Current Principal Amount		0	20,572,000
Secured debt \| 2019-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Long-term debt		19,521,000	76,241,000
Secured debt \| 2019-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Long-term debt		25,069,000	64,750,000
Secured debt \| 2019-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Long-term debt		$ 24,202,000	$ 62,510,000

Debt and Financing Lease Obligations - Revolving Credit Facility (Details) - USD ($)	Jun. 05, 2020	Jan. 31, 2021	Oct. 30, 2015
Revolving Credit Facility
Debt Instrument [Line Items]
Remaining borrowing capacity		$ 336,000,000.0
Outstanding letters of credit		22,500,000
Line Of Credit Facility Additional Remaining Borrowing Capacity		$ 239,500,000
Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 650,000,000.0
Weighted average interest rate		5.90%
Restrictions on payment of dividends, amount free from restriction		$ 240,100,000
Sub-facility letters of credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Original Principal Amount		$ 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	3.00%
Minimum \| Base rate \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Contractual Interest Rate	2.00%
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	3.75%
Maximum \| Base rate \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Contractual Interest Rate	2.75%

Debt and Financing Lease Obligations - Debt Covenants (Details) $ in Millions	12 Months Ended
	Jan. 31, 2021 USD ($)
Actual
Interest Coverage Ratio for the quarter must equal or exceed minimum	5.05
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	4.53
Leverage Ratio must not exceed maximum	1.61
ABS Excluded Leverage Ratio must not exceed maximum	0.95
Capital Expenditures, net, must not exceed maximum	$ 34.7
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	4.50
ABS Excluded Leverage Ratio must not exceed maximum	2.50
Capital Expenditures, net, must not exceed maximum	$ 100.0

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Deferred tax assets:
Allowance for doubtful accounts	$ 0	$ 18,642
Deferred revenue	788	807
Employment tax	1,661	0
Indirect tax reserve	2,927	3,039
Inventories	1,866	1,796
Lease liability	89,411	81,241
Stock-based compensation	2,121	1,982
Net operating loss carryforwards	25,131	904
Other	2,192	2,614
Total deferred tax assets	126,097	111,025
Deferred tax liabilities:
Allowance for doubtful accounts	(9,829)	0
Right-of-use asset	(59,725)	(54,492)
Vendor prepayments	(1,165)	(1,147)
Sales tax receivable	(5,085)	(4,842)
Property and equipment	(40,454)	(31,627)
Other	(391)	(318)
Total deferred tax liabilities	116,649	92,426
Net deferred tax asset	$ 9,448	$ 18,599

Income Taxes - Components of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Current:
Federal	$ (47,829)	$ 9,215	$ 29,919
Federal	316	1,611	2,308
Total current	(47,513)	10,826	32,227
Deferred:
Federal	31,083	7,590	(9,419)
State	240	(102)	121
Total deferred	31,323	7,488	(9,298)
Provision (benefit) for income taxes	$ (16,190)	$ 18,314	$ 22,929

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Reconciliation of Tax Provision at Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Income Tax Disclosure [Abstract]
Income tax provision (benefit) at U.S. federal statutory rate	$ (4,059)	$ 15,607	$ 20,323
State income taxes, net of federal benefit	843	2,011	2,068
Tax Act and other deferred tax adjustments	(15,009)	(910)	0
Employee benefits	1,350	1,873	1,096
Other	685	(267)	(558)
Provision (benefit) for income taxes	$ (16,190)	$ 18,314	$ 22,929

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Additional Disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Operating Loss Carryforwards [Line Items]
Income tax benefit as a result of the CARES Act	$ 14.9
Unrecognized tax benefits that if recognized would affect the annual effective tax rate	5.3	$ 3.5	$ 3.5
Interest and penalties	1.0	$ 0.7	$ 0.1
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	21.1
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 4.0

Income Taxes - Changes in Balance of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at February 1	$ (11,384)	$ (11,625)	$ 0
Increases related to prior year tax positions	0	0	(12,084)
Decreases related to prior year tax positions	1,531	241	459
Balance at January 31	$ (9,853)	$ (11,384)	$ (11,625)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019	Feb. 01, 2019
Lessee, Lease, Description [Line Items]
Operating Lease, Payments	$ 73,983	$ 69,829
Operating Lease, Cost	63,970	57,501
Operating lease right-of-use assets	265,798	242,457		$ 227,421
Total rent expense	65,100	58,100	$ 52,700
Operating Leases
2022	83,433
2023	82,826
2024	78,176
2025	67,984
2026	56,372
Thereafter	165,334
Total undiscounted cash flows	534,125
Finance Leases
2022	1,247
2023	994
2024	1,064
2025	900
2026	606
Thereafter	3,194
Total undiscounted cash flows	8,005
Lessee, Lease, Liability, Payments, Remainder Of Fiscal Year	84,680
Lessee, Lease, Liability, Payments, Due Year Two	83,820
Lessee, Lease, Liability, Payments, Due Year Three	79,240
Lessee, Lease, Liability, Payments, Due Year Four	68,884
Lessee, Lease, Liability, Payments, Due Year Five	56,978
Lessee, Lease, Liability, Payments, Due After Year Five	168,528
Lessee, Lease, Liability, Payments, Due	542,130
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	125,569
Less: Interest	1,933
Lessee, Lease, Liability, Payments, Undiscounted Excess Amount	127,502
Operating Lease, Liability	408,556		340,500
Finance Lease, Liability	6,072	5,209
Lease, Liability, LeaseDatabase	414,628
Finance Lease, Right-of-Use Asset	5,813	5,028
Lease, Right-Of-Use Asset	271,611	247,485
Gross Operating Lease, Liability, Current	53,958	47,118
Finance Lease, Liability, Current	934	605
Operating lease liability - non current	354,598	329,081		$ 300,170
Finance Lease, Liability, Noncurrent	5,138	4,604
Lease, Liability	414,628	381,408
Operating Lease, Impairment Loss	0	1,933
Lease, Cost	$ 63,970	$ 59,434
Finance Lease, Weighted Average Remaining Lease Term	9 years 6 months	11 years 2 months 12 days
Operating Lease, Weighted Average Remaining Lease Term	7 years 2 months 12 days	7 years 1 month 6 days
Finance Lease, Weighted Average Discount Rate, Percent	5.10%	6.10%
Operating Lease, Weighted Average Discount Rate, Percent	7.70%	8.30%
Loans and Leases Receivable, Allowance	$ 9,900	$ 11,700	$ 10,500
Maximum \| Land, Buildings and Improvements [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	15 years
Maximum \| Equipment
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	5 years
Minimum \| Land, Buildings and Improvements [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	5 years
Minimum \| Equipment
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	3 years

Stock-Based Compensation - Stock-Based Compensation Narrative (Details) - shares	12 Months Ended
	Jan. 31, 2021	May 28, 2020
Stock options and restricted stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and restricted stock units vesting period	3 years
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)		1,800,000
Number of years until a grant expires	10 years
Additional shares authorized (in shares)	937,514
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for future issuance (in shares)	2,632,127
2016Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	746,299
2011 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	2,224
2011 Non-Employee Director Restricted Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	48,991
2003 Non-Employee Director Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	140,000

Stock-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation cost for share-based compensation	$ 9,330	$ 12,550	$ 12,217
us-gaap_ShareBasedCompensation	10,585	12,550	12,217
Fair value of stock options vested	5,100	8,400	12,600
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation cost for share-based compensation	364	256	263
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total compensation cost for share-based compensation	3,908	3,978	3,414
Fair value of stock options vested	300	300	500
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	1,255	0	0
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	$ 5,058	$ 8,316	$ 8,540

Stock-Based Compensation - Stock-Based Compensation Expense Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Recognized tax benefits related to compensation cost	$ 2,300	$ 1,400	$ 1,700
Stock-based compensation expense	$ 9,330	12,550	12,217
Recognition period for unrecognized compensation cost related to all non-vested stock compensation awards	1 year 10 months 24 days
Fair value of stock options vested	$ 5,100	$ 8,400	$ 12,600
Nonvested
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 7,900

Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options exercised		$ 0.4	$ 0.4
Aggregate intrinsic value of stock options vested and expected to vest and exercisable	$ 0.1
Fair value of stock options vested	5.1	8.4	12.6
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock options vested	$ 0.3	$ 0.3	$ 0.5
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		$ 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, 2021	Jan. 31, 2019
Shares Under Option
Vested and expected to vest, end of period (in shares)	720,166
Weighted- Average Exercise Price
Vested and expected to vest, end of period (in dollar per shares)	$ 30.49
Weighted- Average Remaining Contractual Life
Vested and expected to vest, end of period	7 years
Incentive Stock Option Plan \| Stock options
Shares Under Option
Outstanding, beginning of period (in shares)	744,191
Granted (in shares)	0	620,166
Exercised (in shares)	0
Forfeited (in shares)	(24,025)
Outstanding, end of period (in shares)	720,166
Exercisable, end of period (in shares)	100,000
Weighted- Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 29.73
Granted (in dollars per share)	0	$ 32.35
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	6.81
Outstanding, end of period (in dollars per share)	30.49
Exercisable, end of period (in dollars per share)	$ 18.98
Weighted- Average Remaining Contractual Life
Outstanding, end of period	7 years
Exercisable, end of period	5 years 10 months 24 days

Stock-Based Compensation - Restricted Stock Units (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Apr. 30, 2020	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested		$ 4.8	$ 8.1	$ 12.1
Fair value of shares granted		$ 8.0	$ 2.9	$ 7.6
Performance-Based RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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, 2021 $ / shares shares
RSUs and PSUs
Number of Units
Outstanding, beginning of period (in shares)	1,082,717
Restricted stock units granted (in shares)	896,636
Vested and converted to common stock (in shares)	693,148
Restricted stock units forfeited (in shares)	(266,731)
Outstanding, end of year (in shares)	1,019,474
Omnibus Incentive Plan \| Time-Based RSUs
Number of Units
Outstanding, beginning of period (in shares)	588,823
Restricted stock units granted (in shares)	625,808
Vested and converted to common stock (in shares)	336,304
Restricted stock units forfeited (in shares)	(128,433)
Outstanding, end of year (in shares)	749,894
Weighted-Average Grant Date Fair Value
Nonvested, beginning of year (in dollars per share) \| $ / shares	$ 19.92
Options granted (in dollars per share) \| $ / shares	9.17
Options vested (in dollars per share) \| $ / shares	15.93
Forfeited (in dollars per share) \| $ / shares	15.32
Nonvested, end of year (in dollars per share) \| $ / shares	$ 13.53
Omnibus Incentive Plan \| Performance-Based RSUs
Number of Units
Outstanding, beginning of period (in shares)	493,894
Restricted stock units granted (in shares)	270,828
Vested and converted to common stock (in shares)	356,844
Restricted stock units forfeited (in shares)	(138,298)
Outstanding, end of year (in shares)	269,580
Weighted-Average Grant Date Fair Value
Nonvested, beginning of year (in dollars per share) \| $ / shares	$ 12.47
Options granted (in dollars per share) \| $ / shares	8.36
Options vested (in dollars per share) \| $ / shares	11.67
Forfeited (in dollars per share) \| $ / shares	12.08
Nonvested, end of year (in dollars per share) \| $ / shares	$ 9.61

Stock-Based Compensation - Employee Stock Purchase Plan (Details) - shares	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	140,672	53,459	34,922
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)	577,591

Significant Vendors (Details) - vendor	12 Months Ended
Significant Vendors (Details) - vendor	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Significant Vendors [Abstract]
Number of vendors the company purchased merchandise from	6
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	76.00%	85.70%	65.30%
Vendors \| Vendor A
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	28.90%	33.60%	25.30%
Vendors \| Vendor B
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	15.40%	16.30%	16.10%
Vendors \| Vendor C
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	14.00%	11.00%	7.00%
Vendors \| Vendor D
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	7.80%	9.60%	6.70%
Vendors \| Vendor E
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	6.80%	9.50%	5.20%
Vendors \| Vendor F
Concentration Risk [Line Items]
Vendor concentration (in hundredths)	3.10%	5.70%	5.00%

Defined Contribution Plan (Details) - USD ($)	12 Months Ended
Defined Contribution Plan (Details) - USD ($)	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
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

Variable Interest Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
Assets:
Restricted Cash and Cash Equivalents, Current	$ 50,557	$ 75,370
Customer accounts receivable:
Restructured accounts	178,374	211,857
Allowance for uncollectible accounts	(298,037)	(233,804)	$ (214,879)	$ (203,572)
Deferred fees and origination costs	(14,212)	(15,746)
Carrying value of customer accounts receivable, net of allowance for bad debts	909,483	1,337,503
Total assets	1,755,084	2,168,769	$ 1,884,907
Liabilities:
Accrued expenses	58,046	52,295
Long-term Debt, Gross	607,160
Less deferred debt issuance costs	(3,139)	(6,797)
Total liabilities	$ 1,197,929	1,541,589
Asset-backed receivables
Variable Interest Entity [Line Items]
Monthly fee received (annualized) (as percent)	4.75%
2020-A VIE Class A Notes [Member]
Liabilities:
Total debt	$ 93,326
2020-A VIE Class B Notes [Member]
Liabilities:
Total debt	65,200
Secured debt
Liabilities:
Total debt	414,000
Secured debt \| 2019-A VIE Class A Notes [Member]
Liabilities:
Total debt	19,521	76,241
Secured debt \| 2017-B Class C Notes
Liabilities:
Long-term Debt, Gross	0	59,655
Secured debt \| 2018-A Class A Notes
Liabilities:
Long-term Debt, Gross	0	34,112
Secured debt \| 2018-A Class B Notes
Liabilities:
Long-term Debt, Gross	0	20,572
Secured debt \| 2018-A Class C Notes
Liabilities:
Long-term Debt, Gross	0	20,572
Secured debt \| 2019-A VIE Class B Notes [Member]
Liabilities:
Total debt	25,069	64,750
Secured debt \| 2019-A VIE Class C Notes [Member]
Liabilities:
Total debt	24,202	62,510
Secured debt \| 2020-A VIE Class A Notes [Member]
Liabilities:
Total debt	93,326	0
Secured debt \| 2020-A VIE Class B Notes [Member]
Liabilities:
Total debt	65,200	0
VIE
Assets:
Restricted Cash and Cash Equivalents, Current	48,622	73,214
(Due to) due from Conn’s, Inc., net	(5,661)
(Due to) due from Conn’s, Inc., net		307
Customer accounts receivable:
Customer accounts receivable	509,574	838,210
Restructured accounts	105,395	147,971
Allowance for uncollectible accounts	(159,849)	(151,263)
Allowance for no-interest option credit programs	(5,502)	(12,445)
Deferred fees and origination costs	(5,503)	(8,255)
Carrying value of customer accounts receivable, net of allowance for bad debts	444,115	814,218
Total assets	487,076	887,739
Liabilities:
Accrued expenses	3,707	5,517
Other liabilities	4,459	7,584
Long-term Debt, Gross	413,988	773,032
Less deferred debt issuance costs	(2,437)	(4,911)
Total debt	411,551	768,121
Total liabilities	$ 419,717	$ 781,222

Segment Information - Additional Disclosures (Details) $ in Thousands	3 Months Ended												12 Months Ended
	Jan. 31, 2021 USD ($) state store	Oct. 31, 2020 USD ($)	Jul. 31, 2020 USD ($)	Apr. 30, 2020 USD ($)	Jan. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Jul. 31, 2019 USD ($)	Apr. 30, 2019 USD ($)	Jan. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)	Jul. 31, 2018 USD ($)	Apr. 30, 2018 USD ($)	Jan. 31, 2021 USD ($) segment state store	Jan. 31, 2020 USD ($)	Jan. 31, 2019 USD ($)
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	15												15
Allocation of overhead by operating segments													$ 32,000	$ 30,000	$ 36,400
Amount of reimbursement made by operating segments	$ 367,791	$ 334,158	$ 366,916	$ 317,160	$ 412,988	$ 376,127	$ 401,059	$ 353,512	$ 432,982	$ 373,824	$ 384,620	$ 358,387	$ 1,386,025	1,543,686	1,549,813
Outside of the United States
Segment Reporting Information [Line Items]
Number of retail stores \| store	0												0
Reimbursement
Segment Reporting Information [Line Items]
Amount of reimbursement made by operating segments													$ 34,800	$ 39,100	$ 38,100

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
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+ Details

Segment Information - Financial Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	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, 2021	Jan. 31, 2020	Jan. 31, 2019
Segment Reporting Information [Line Items]
Total net sales													$ 1,064,311	$ 1,163,235	$ 1,194,674
Cost of Goods and Services Sold	$ 184,300	$ 160,378	$ 176,623	$ 147,014	$ 188,038	$ 170,453	$ 182,065	$ 157,228	$ 195,033	$ 166,886	$ 173,627	$ 166,589	668,315	697,784	702,135
Revenues:
Repair service agreement commissions														106,997	101,928
Finance charges and other revenues													321,714	380,451	355,139
Total revenues	367,791	334,158	366,916	317,160	412,988	376,127	401,059	353,512	432,982	373,824	384,620	358,387	1,386,025	1,543,686	1,549,813
Costs and expenses:
Selling, general and administrative expense													478,767	503,024	480,561
Provision for bad debts													202,003	205,217	198,082
Charges and credits													6,326	3,142	7,780
Total costs and expenses													1,355,411	1,409,167	1,388,558
Operating income	27,291	24,129	41,436	(62,242)	23,422	30,304	41,774	39,019	53,766	35,473	39,252	32,764	30,614	134,519	161,255
Interest Expense													50,381	59,107	62,704
(Gain) loss on extinguishment of debt													(440)	1,094	1,773
Income (loss) before income taxes													(19,327)	74,318	96,778
Property and equipment additions													55,996	62,444	37,494
Depreciation expense													41,068	36,841	31,584
Total assets	1,755,084				2,168,769				1,884,907				1,755,084	2,168,769	1,884,907
Retail
Segment Reporting Information [Line Items]
Total net sales													1,064,311	1,163,235	1,194,674
Cost of Goods and Services Sold													668,315	697,784	702,135
Revenues:
Repair service agreement commissions														106,997	101,928
Finance charges and other revenues													816	810	447
Total revenues	294,690	259,940	279,932	230,565	315,280	280,319	306,265	262,181	338,887	284,053	296,411	275,770	1,065,127	1,164,045	1,195,121
Costs and expenses:
Selling, general and administrative expense													335,954	346,108	328,628
Provision for bad debts													443	905	1,009
Charges and credits													4,092	1,933	2,980
Total costs and expenses													1,008,804	1,046,730	1,034,752
Operating income	12,681	15,245	23,188	5,209	35,748	19,598	36,072	25,897	54,712	35,250	39,238	31,169	56,323	117,315	160,369
Interest Expense													0	0	0
(Gain) loss on extinguishment of debt													0	0	0
Income (loss) before income taxes													56,323	117,315	160,369
Property and equipment additions													55,172	62,244	36,110
Depreciation expense													39,968	35,783	30,739
Total assets	655,666				641,812				405,542				655,666	641,812	405,542
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
Finance charges and other revenues													320,898	379,641	354,692
Total revenues	73,101	74,218	86,984	86,595	97,708	95,808	94,794	91,331	94,095	89,771	88,209	82,617	320,898	379,641	354,692
Costs and expenses:
Selling, general and administrative expense													142,813	156,916	151,933
Provision for bad debts													201,560	204,312	197,073
Charges and credits													2,234	1,209	4,800
Total costs and expenses													346,607	362,437	353,806
Operating income	14,610	$ 8,884	$ 18,248	$ (67,451)	(12,326)	$ 10,706	$ 5,702	$ 13,122	(946)	$ 223	$ 14	$ 1,595	(25,709)	17,204	886
Interest Expense													50,381	59,107	62,704
(Gain) loss on extinguishment of debt													(440)	1,094	1,773
Income (loss) before income taxes													(75,650)	(42,997)	(63,591)
Property and equipment additions													824	200	1,384
Depreciation expense													1,100	1,058	845
Total assets	$ 1,099,418				$ 1,526,957				$ 1,479,365				1,099,418	1,526,957	1,479,365
Furniture and mattress
Revenues:
Total revenues													322,770	370,931	382,975
Furniture and mattress \| Retail
Revenues:
Total revenues													322,770	370,931	382,975
Furniture and mattress \| Credit
Revenues:
Total revenues													0	0	0
Home appliance
Revenues:
Total revenues													390,964	360,441	332,609
Home appliance \| Retail
Revenues:
Total revenues													390,964	360,441	332,609
Home appliance \| Credit
Revenues:
Total revenues													0	0	0
Consumer electronics
Revenues:
Total revenues													172,932	221,449	262,088
Consumer electronics \| Retail
Revenues:
Total revenues													172,932	221,449	262,088
Consumer electronics \| Credit
Revenues:
Total revenues													0	0	0
Home office
Revenues:
Total revenues													65,405	73,074	86,260
Home office \| Retail
Revenues:
Total revenues													65,405	73,074	86,260
Home office \| Credit
Revenues:
Total revenues													0	0	0
Other
Revenues:
Total revenues													20,960	16,529	14,703
Other \| Retail
Revenues:
Total revenues													20,960	16,529	14,703
Other \| Credit
Revenues:
Total revenues													0	0	0
Product [Member]
Revenues:
Total revenues													973,031	1,042,424	1,078,635
Product [Member] \| Retail
Revenues:
Total revenues													973,031	1,042,424	1,078,635
Product [Member] \| Credit
Revenues:
Total revenues													0	0	0
RSA Commission [Member]
Revenues:
Total revenues													78,838	106,997	101,928
RSA Commission [Member] \| Retail
Revenues:
Total revenues													78,838
RSA Commission [Member] \| Credit
Revenues:
Total revenues													0
Service [Member]
Revenues:
Total revenues													12,442	13,814	14,111
Service [Member] \| Retail
Revenues:
Total revenues													12,442	13,814	14,111
Service [Member] \| Credit
Revenues:
Total revenues													$ 0	$ 0	$ 0

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 ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	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, 2021	Jan. 31, 2020	Jan. 31, 2019
Revenues [Abstract]
Total revenues	$ 367,791	$ 334,158	$ 366,916	$ 317,160	$ 412,988	$ 376,127	$ 401,059	$ 353,512	$ 432,982	$ 373,824	$ 384,620	$ 358,387	$ 1,386,025	$ 1,543,686	$ 1,549,813
Percent of annual revenues (as percent)	26.50%	24.10%	26.50%	22.90%	26.70%	24.40%	26.00%	22.90%	28.00%	24.10%	24.80%	23.10%
Cost of Goods and Services Sold	$ 184,300	$ 160,378	$ 176,623	$ 147,014	$ 188,038	$ 170,453	$ 182,065	$ 157,228	$ 195,033	$ 166,886	$ 173,627	$ 166,589	668,315	697,784	702,135
Operating income [Abstract]
Operating income	27,291	24,129	41,436	(62,242)	23,422	30,304	41,774	39,019	53,766	35,473	39,252	32,764	30,614	134,519	161,255
Net income (loss)	$ 25,126	$ 7,419	$ 20,520	$ (56,202)	$ 5,052	$ 11,469	$ 19,974	$ 19,509	$ 29,476	$ 14,630	$ 17,011	$ 12,732	$ (3,137)	$ 56,004	$ 73,849
Income (loss) per share
Basic (in dollars per share)	$ 0.86	$ 0.25	$ 0.71	$ (1.95)	$ 0.18	$ 0.39	$ 0.64	$ 0.61	$ 0.93	$ 0.46	$ 0.54	$ 0.40	$ (0.11)	$ 1.85	$ 2.33
Diluted (in dollars per share)	$ 0.85	$ 0.25	$ 0.70	$ (1.95)	$ 0.17	$ 0.39	$ 0.62	$ 0.60	$ 0.91	$ 0.45	$ 0.53	$ 0.39	$ (0.11)	$ 1.82	$ 2.28
Retail Segment
Revenues [Abstract]
Total revenues	$ 294,690	$ 259,940	$ 279,932	$ 230,565	$ 315,280	$ 280,319	$ 306,265	$ 262,181	$ 338,887	$ 284,053	$ 296,411	$ 275,770	$ 1,065,127	$ 1,164,045	$ 1,195,121
Cost of Goods and Services Sold													668,315	697,784	702,135
Operating income [Abstract]
Operating income	12,681	15,245	23,188	5,209	35,748	19,598	36,072	25,897	54,712	35,250	39,238	31,169	56,323	117,315	160,369
Credit Segment
Revenues [Abstract]
Total revenues	73,101	74,218	86,984	86,595	97,708	95,808	94,794	91,331	94,095	89,771	88,209	82,617	320,898	379,641	354,692
Cost of Goods and Services Sold													0	0	0
Operating income [Abstract]
Operating income	$ 14,610	$ 8,884	$ 18,248	$ (67,451)	$ (12,326)	$ 10,706	$ 5,702	$ 13,122	$ (946)	$ 223	$ 14	$ 1,595	$ (25,709)	$ 17,204	$ 886

Subsequent Events (Details) - USD ($)	Feb. 24, 2021	Mar. 26, 2021	Mar. 15, 2021	Oct. 16, 2020
Subsequent event \| Senior Notes
Subsequent Event [Line Items]
Debt Instrument, Repurchase Amount			$ 141,172,000
Subsequent event \| Minimum \| Revolving Credit Facility
Subsequent Event [Line Items]
Line of Credit Facility, Current Borrowing Capacity		$ 40,000,000
Subsequent event \| Maximum \| Revolving Credit Facility
Subsequent Event [Line Items]
Line of Credit Facility, Current Borrowing Capacity		$ 100,000,000
2020-A VIE Class C Notes [Member]
Subsequent Event [Line Items]
Original Principal Amount				$ 62,900,000
Contractual Interest Rate				7.10%
2020-A VIE Class C Notes [Member] \| Subsequent event
Subsequent Event [Line Items]
Original Principal Amount	$ 62,900,000
Contractual Interest Rate	4.20%
Proceeds from issuance of debt	$ 62,500,000