0001223389-21-000049 | 10-Q | XBRL Viewer

Cover - shares	6 Months Ended
Cover - shares	Jul. 31, 2021	Aug. 23, 2021
Document and Entity Information [Abstract]
Entity Registrant Name	CONN’S, INC.
Entity Central Index Key	0001223389
Current Fiscal Year End Date	--01-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Jul. 31, 2021
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		29,483,140
Entity File Number	001-34956
Entity Tax Identification Number	06-1672840
Entity Address, Postal Zip Code	77381
Entity Incorporation, State or Country Code	DE
Entity Address, State or Province	TX
City Area Code	936
Local Phone Number	230-5899
Entity Address, Address Line One	2445 Technology Forest Blvd.,
Entity Address, Address Line Two	Suite 800,
Entity Address, City or Town	The Woodlands,
Trading Symbol	CONN
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, par value $0.01 per share
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Current assets:
Cash and cash equivalents	$ 8,736	$ 9,703
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	30,961	50,557
Customer accounts receivable, net of allowances (includes VIE balances of $159,338 and $259,811, respectively)	575,231	643,903
Accounts Receivable, Allowance for Credit Loss, Current	113,740	165,169
Customer accounts receivable, net of allowances (includes VIE balances of $159,338 and $259,811, respectively)	461,491	478,734
Other accounts receivable	55,260	61,716
Inventories	223,662	196,463
Income taxes receivable	32,223	38,059
Prepaid expenses and other current assets	20,725	8,831
Total current assets	833,058	844,063
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $70,927 and $184,304, respectively)	415,208	430,749
Property and equipment, net	186,072	190,962
Operating lease assets	258,702	265,798
Deferred income taxes	0	9,448
Other assets	15,907	14,064
Total assets	1,708,947	1,755,084
Current liabilities:
Current finance lease obligations	1,371	934
Accounts payable	89,001	69,367
Accrued compensation and related expenses	27,366	24,944
Accrued expenses	71,712	58,046
Operating lease liability - current	54,800	44,011
Income taxes payable	2,233	1,447
Deferred revenues and other credits	14,937	13,007
Total current liabilities	261,420	211,756
Operating lease liability - non current	338,289	354,598
Long-term debt and finance lease obligations (includes VIE balances of $214,562 and $411,551, respectively)	438,242	608,635
Deferred Income Tax Liabilities, Net	7,803	0
Other long-term liabilities	20,743	22,940
Total liabilities	1,066,497	1,197,929
Commitments and contingencies
Stockholders’ equity:
Preferred stock ($0.01 par value, 1,000,000 shares authorized; none issued or outstanding)	0	0
Common stock ($0.01 par value, 100,000,000 shares authorized; 32,967,808 and 32,711,623 shares issued, respectively)	329	327
Treasury stock (at cost; 3,485,441 shares and 3,485,441 shares, respectively)	66,290	66,290
Additional paid-in capital	134,999	132,108
Retained earnings	573,412	491,010
Total stockholders’ equity	642,450	557,155
Total liabilities and stockholders’ equity	1,708,947	1,755,084
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	30,961	50,557
Customer accounts receivable, net of allowances (includes VIE balances of $159,338 and $259,811, respectively)	461,491	478,734
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $70,927 and $184,304, respectively)	415,208	$ 430,749
Long-term debt	$ 215,533
Preferred stock, par value (in dollars per share)	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000
Preferred Stock, Shares Outstanding	0
Preferred Stock, Shares Issued	0
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares authorized (in shares)	100,000,000
Treasury Stock, Shares	(3,485,441)	(3,485,441)
Long-term debt	$ 215,533
Common Stock [Member]
Stockholders’ equity:
Total stockholders’ equity	$ 329	$ 327
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, shares issued (in shares)	32,967,808	32,711,623
Variable Interest Entity [Member]
Current assets:
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	$ 28,911	$ 48,622
Customer accounts receivable, net of allowances (includes VIE balances of $159,338 and $259,811, respectively)	159,338	259,811
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $70,927 and $184,304, respectively)	70,927	184,304
Total assets	248,809	487,076
Current liabilities:
Total liabilities	218,712	419,717
Condensed Balance Sheet Statements, Captions [Line Items]
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	28,911	48,622
Customer accounts receivable, net of allowances (includes VIE balances of $159,338 and $259,811, respectively)	159,338	259,811
Long-term portion of customer accounts receivable, net of allowances (includes VIE balances of $70,927 and $184,304, respectively)	70,927	184,304
Long-term debt	214,562	411,551
Long-term debt	$ 214,562	$ 411,551

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Revenues:
Other Income	$ 71,598	$ 87,180	$ 144,004	$ 174,010
Total revenues	418,383	366,916	782,085	684,076
Total Net Sales	346,785	279,736	638,081	510,066
Costs and expenses:
Cost of goods sold	216,042	176,623	400,921	323,637
Selling, general and administrative expense	137,870	115,278	263,919	228,285
Provision for bad debts	10,262	32,045	(6,874)	149,371
Charges and credits	0	1,534	0	3,589
Total costs and expenses	364,174	325,480	657,966	704,882
Operating Income (Loss), Total	54,209	41,436	124,119	(20,806)
Interest expense	6,088	13,222	15,292	28,215
Loss on extinguishment of debt	0	0	1,218	0
Income (loss) before income taxes	48,121	28,214	107,609	(49,021)
Provision (benefit) for income taxes	11,117	7,694	25,207	(13,339)
Net income (loss)	$ 37,004	$ 20,520	$ 82,402	$ (35,682)
Income (loss) per share:
Basic (in dollars per share)	$ 1.26	$ 0.71	$ 2.80	$ (1.23)
Diluted (in dollars per share)	$ 1.22	$ 0.70	$ 2.74	$ (1.23)
Weighted average common shares outstanding:
Basic (in shares)	29,438,605	29,070,607	29,382,162	28,948,216
Diluted (in shares)	30,212,448	29,140,546	30,072,401	28,948,216
Product [Member]
Revenues:
Total revenues	$ 320,245	$ 256,142	$ 589,456	$ 463,340
RSA Commission [Member]
Revenues:
Total revenues	23,700	20,164	42,831	40,265
Service [Member]
Revenues:
Total revenues	$ 2,840	$ 3,430	$ 5,794	$ 6,461

CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Balance (in shares) at Jan. 31, 2020		32,125,055			(3,485,441)
Balance at Jan. 31, 2020	$ 627,180	$ 321	$ 122,513	$ 570,636	$ (66,290)
Balance (-76490000) at Jan. 31, 2020	(76,490)			(76,490)
Exercise of options and vesting of restricted stock, net of tax (in shares)		321,468
Exercise of options and vesting of restricted stock, net of withholding tax	(1,285)	$ 3	(1,288)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		47,450
Issuance of common stock under Employee Stock Purchase Plan	177	$ 1	176
Stock-based compensation	2,430		2,430
Net income (loss)	(56,202)			(56,202)
Balance (in shares) at Apr. 30, 2020		32,493,973			(3,485,441)
Balance at Apr. 30, 2020	$ 495,810	$ 325	123,831	437,944	$ (66,290)
Accounting Standards Update [Extensible Enumeration]	0
Balance (in shares) at Jan. 31, 2020		32,125,055			(3,485,441)
Balance at Jan. 31, 2020	$ 627,180	$ 321	122,513	570,636	$ (66,290)
Balance (-76490000) at Jan. 31, 2020	(76,490)			(76,490)
Net income (loss)	(35,682)
Balance (in shares) at Jul. 31, 2020		32,615,887			(3,485,441)
Balance at Jul. 31, 2020	518,586	$ 326	126,086	458,464	$ (66,290)
Balance (in shares) at Apr. 30, 2020		32,493,973			(3,485,441)
Balance at Apr. 30, 2020	495,810	$ 325	123,831	437,944	$ (66,290)
Exercise of options and vesting of restricted stock, net of tax (in shares)		70,271
Exercise of options and vesting of restricted stock, net of withholding tax	(158)	$ 1	(159)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		51,643
Issuance of common stock under Employee Stock Purchase Plan	160		160
Stock-based compensation	2,254		2,254
Net income (loss)	20,520			20,520
Balance (in shares) at Jul. 31, 2020		32,615,887			(3,485,441)
Balance at Jul. 31, 2020	518,586	$ 326	126,086	458,464	$ (66,290)
Balance at Jan. 31, 2021	557,155	$ 327	132,108	491,010	$ (66,290)
Exercise of options and vesting of restricted stock, net of tax (in shares)		115,159
Exercise of options and vesting of restricted stock, net of withholding tax	(998)	$ 1	(999)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		18,240
Issuance of common stock under Employee Stock Purchase Plan	180	$ 0	180
Stock-based compensation	2,039		2,039
Net income (loss)	45,398			45,398
Balance (in shares) at Apr. 30, 2021		32,845,022			(3,485,441)
Balance at Apr. 30, 2021	603,774	$ 328	133,328	536,408	$ (66,290)
Balance at Jan. 31, 2021	557,155	$ 327	132,108	491,010	$ (66,290)
Net income (loss)	82,402
Balance (in shares) at Jul. 31, 2021		32,967,808			(3,485,441)
Balance at Jul. 31, 2021	642,450	$ 329	134,999	573,412	$ (66,290)
Balance (in shares) at Apr. 30, 2021		32,845,022			(3,485,441)
Balance at Apr. 30, 2021	603,774	$ 328	133,328	536,408	$ (66,290)
Exercise of options and vesting of restricted stock, net of tax (in shares)		112,223
Exercise of options and vesting of restricted stock, net of withholding tax	(228)	$ 1	(229)
Issuance of common stock under Employee Stock Purchase Plan (in shares)		10,563
Issuance of common stock under Employee Stock Purchase Plan	187		187
Stock-based compensation	1,713		1,713
Net income (loss)	37,004			37,004
Balance (in shares) at Jul. 31, 2021		32,967,808			(3,485,441)
Balance at Jul. 31, 2021	$ 642,450	$ 329	$ 134,999	$ 573,412	$ (66,290)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 82,402	$ (35,682)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation	22,836	19,929
Change in right-of-use asset	17,005	15,328
Amortization of debt issuance costs	3,254	4,237
Provision for bad debts and uncollectible interest	8,071	181,286
Stock-based compensation expense	3,752	4,683
Charges, net of credits	0
Charges, net of credits		3,589
Deferred income taxes	17,251	(2,472)
Loss on extinguishment of debt	1,218	0
Loss on disposal of property and equipment	104	0
Tenant improvement allowances received from landlords	10,864	10,277
Change in operating assets and liabilities:
Customer accounts receivable	24,873	63,745
Other accounts receivables	6,296	13,068
Inventories	(27,199)	38,863
Other assets	(11,390)	690
Accounts payable	19,633	13,442
Accrued expenses	17,907	2,485
Operating leases	(26,293)	(20,086)
Income taxes	5,622	(9,578)
Deferred revenues and other credits	733	1,921
Net cash provided by operating activities	176,939	305,725
Cash flows from investing activities:
Purchases of property and equipment	(19,162)	(32,459)
Net cash used in investing activities	(19,162)	(32,459)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	62,900	0
Payments on asset-backed notes	(261,356)	(315,225)
Borrowings under revolving credit facility	740,850	835,717
Payments on revolving credit facility	(573,850)	(800,917)
Payments of debt issuance costs and amendment fees	(4,231)	(2,055)
Proceeds from stock issued under employee benefit plans	367	338
Tax payments associated with equity-based compensation transactions	(1,227)	(1,444)
Payment for extinguishment of debt	(141,279)	0
Other	(514)	(314)
Net Cash Provided by (Used in) Financing Activities, Total	(178,340)	(283,900)
Net change in cash, cash equivalents and restricted cash	(20,563)	(10,634)
Cash, cash equivalents and restricted cash, beginning of period	60,260	80,855
Cash, cash equivalents and restricted cash, end of period	39,697	70,221
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new finance lease liabilities	493	1,045
Right-of-use assets obtained in exchange for new operating lease liabilities	12,415	47,950
Property and equipment purchases not yet paid	5,962	11,662
Supplemental cash flow data:
Cash interest paid	10,931	23,976
Cash income taxes paid (refunded), net	$ 2,334	$ (1,026)

Summary of Significant Accounting Policies

6 Months Ended

Jul. 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.

Basis of Presentation. The accompanying unaudited Condensed Consolidated Financial Statements of Conn’s, Inc. and its wholly-owned subsidiaries, including its Variable Interest Entities (“VIEs”), have been prepared by management in accordance with U.S. generally accepted accounting principles (“GAAP”) and prevailing industry practice for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at January 31, 2021 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2021 (the “2021 Form 10-K”) filed with the United States Securities and Exchange Commission (the “SEC”) on March 31, 2021.

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 Condensed Consolidated Financial Statements include the accounts of Conn’s, Inc. and its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation.

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

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

Refer to Note 4, Debt and Financing Lease Obligations, and Note 6, 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.

Restricted Cash. The restricted cash balance as of July 31, 2021 and January 31, 2021 includes $24.1 million and $41.6 million, respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $4.8 million and $7.0 million, respectively, of cash held by the VIEs as additional collateral for the asset-backed notes.

Customer Accounts Receivable. Customer accounts receivable reported in the Condensed Consolidated Balance Sheet includes total receivables managed, including both those transferred to the VIEs and those not transferred to the VIEs. Customer accounts receivable are recognized at the time the customer takes possession of the product. 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. 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 $33.5 million and $65.2 million as of July 31, 2021 and January 31, 2021, respectively. All COVID-19 specific deferral programs ended during the third quarter of fiscal year 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 July 31, 2021 and January 31, 2021, there was $8.4 million and $8.9 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 are applied to principal and reduce the balance of the loan. At July 31, 2021 and January 31, 2021, the carrying value of customer accounts receivable in non-accrual status was $7.0 million and $8.5 million, respectively. At July 31, 2021 and January 31, 2021, the carrying value of customer accounts receivable that were past due 90 days or more and still accruing interest totaled $55.2 million and $111.5 million, respectively. At July 31, 2021 and January 31, 2021, the carrying value of customer accounts receivable in a bankruptcy status that were less than 60 days past due of $6.4 million and $5.2 million, respectively, were included within the customer receivables balance carried in non-accrual status.

Allowance for Doubtful Accounts. The determination of the amount of the allowance for credit losses is, by nature, highly complex and subjective. Future events that are inherently uncertain could result in material changes to the level of the allowance for credit losses. General economic conditions, changes to state or federal regulations and a variety of other factors

that affect the ability of borrowers to service their debts or our ability to collect will impact the future performance of the portfolio.

We establish an allowance for credit losses, including estimated uncollectible interest, to cover expected credit losses on our customer accounts receivable resulting from the failure of customers to make contractual payments. Our customer accounts receivable portfolio balance consists of a large number of relatively small, homogeneous accounts. None of our accounts are large enough to warrant individual evaluation for impairment. The allowance for credit losses is measured on a collective (pool) basis where similar risk characteristics exist. 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.

We 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.

Pursuant to ASC 326 requirements, 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.

As of July 31, 2021 and January 31, 2021, the balance of allowance for doubtful accounts and uncollectible interest for non-TDR customer receivables was $150.7 million and $219.7 million, respectively. As of July 31, 2021 and January 31, 2021, the amount included in the allowance for doubtful accounts associated with principal and interest on TDR accounts was $51.4 million and $78.3 million, respectively.

Loss on Extinguishment. During the six months ended July 31, 2021, we incurred a loss of $1.0 million related to the retirement of the remaining $141.2 million aggregate principal amount of our 7.25% Senior Notes due 2022 (“Senior Notes”) and a loss of $0.2 million related to the amendment of our Fifth Amended and Restated Loan and Security Agreement.

Income Taxes. For the six months ended July 31, 2021 and 2020, we utilized the estimated annual effective tax rate based on our estimated fiscal year 2022 and 2021 pre-tax income, respectively, in determining income tax expense.

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

For the six months ended July 31, 2021 and 2020, the effective tax rate was 23.4% and 27.2%, respectively. The primary factor affecting the decrease in our effective tax rate for the six months ended July 31, 2021 was the impact of the tax loss carryback provisions of the CARES Act that was reflected in the prior period.

Stock-based Compensation. During the six months ended July 31, 2021, the Company granted performance stock awards (“PSUs”) and restricted stock awards (“RSUs”). The awards had a combined aggregate grant date fair value of $9.3 million. The PSUs will vest in fiscal year 2025, if at all, upon certification by the Compensation Committee of the Board of Directors of satisfaction of certain total stockholder return performance conditions over the three fiscal years commencing with fiscal year 2022. The RSUs will vest ratably, over periods of three years to four years from the date of grant.

Stock-based compensation expense is recorded, net of actual forfeitures, for share-based compensation awards 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 is the market value of our stock at the date of issuance adjusted for the market condition using a Monte Carlo model.

The following table sets forth the RSUs and PSUs granted during the three and six months ended July 31, 2021 and 2020:


	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
RSUs (1)	41,087		101,774		381,731		622,195
PSUs (2)	—		—		152,349		270,828
Total stock awards granted	41,087		101,774		534,080		893,023
Aggregate grant date fair value (in thousands)	$	960	$	750	$	9,250	$	7,957

(1)The RSUs issued during the six months ended July 31, 2021 and 2020 are scheduled to vest ratably over periods of three years to four years from the date of grant.

(2)The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the six months ended July 31, 2021 included expected volatility of 83.0%, an expected term of 3 years and risk-free interest rate of 0.17%. No dividend yield was included in the weighted-average assumptions for the PSUs granted during the six months ended July 31, 2021. The weighted-average assumptions used in the Monte Carlo model for the PSUs granted during the six months ended July 31, 2020 included expected volatility of 60.0%, an expected term of 3 years and risk-free interest rate of 1.42%. No dividend yield was included in the weighted average assumptions for the PSUs granted during the six months ended July 31, 2020.

For the three months ended July 31, 2021 and 2020, stock-based compensation expense was $1.7 million and $2.3 million, respectively. For the six months ended July 31, 2021 and 2020, stock-based compensation expense was $3.8 million and $4.7 million, respectively.

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


	Three Months Ended July 31,		Six Months Ended July 31,
	2021	2020	2021	2020
Weighted-average common shares outstanding - Basic	29,438,605	29,070,607	29,382,162	28,948,216
Dilutive effect of stock options, PSUs and RSUs	773,843	69,939	690,239	—
Weighted-average common shares outstanding - Diluted	30,212,448	29,140,546	30,072,401	28,948,216

For the three months ended July 31, 2021 and 2020, the weighted average number of stock options, RSUs and PSUs not included in the calculation due to their anti-dilutive effect, was 656,987 and 1,116,730, respectively. For the six months ended July 31, 2021 and 2020, the weighted average number of stock options, RSUs and PSUs not included in the calculation due to their anti-dilutive effect, was 731,647 and 1,479,599, respectively

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

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

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

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

In determining fair value, we use observable market data when available, or models that incorporate observable market data. When we are required to measure fair value and there is not a market-observable price for the asset or liability or for a similar asset or liability, we use the cost or income approach depending on the quality of information available to support management’s assumptions. The cost approach is based on management’s best estimate of the current asset replacement cost.

The income approach is based on management’s best assumptions regarding expectations of future net cash flows and discounts the expected cash flows using a commensurate risk-adjusted discount rate. Such evaluations involve significant judgment, and the results are based on expected future events or conditions such as sales prices, economic and regulatory climates, and other factors, most of which are often outside of management’s control. However, we believe assumptions used reflect a market participant’s view of long-term prices, costs, and other factors and are consistent with assumptions used in our business plans and investment decisions.

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

The fair value of cash and cash equivalents, restricted cash and accounts payable approximate their carrying amounts because of the short maturity of these instruments. The fair value of customer accounts 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 July 31, 2021, the fair value of the asset backed notes was $216.9 million as compared to the carrying value of $215.5 million and was determined using Level 2 inputs based on inactive trading activity.

Deferred Revenue. Deferred revenue related to contracts with customers consists of deferred customer deposits and deferred RSA administration fees. During the six months ended July 31, 2021, we recognized $4.7 million of revenue for customer deposits deferred as of January 31, 2021. During the six months ended July 31, 2021, we recognized $1.9 million of revenue for RSA administrative fees deferred as of January 31, 2021.

Recent Accounting Pronouncements 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 became effective for us in the first quarter of fiscal year 2022. The adoption did not have a material impact on our consolidated financial statements.

Recent Accounting Pronouncements Yet to Be Adopted.

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. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), Scope, to clarify the scope of the guidance and reduce potential diversity in practice. 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. These accounting standard updates were effective upon issuance, with adoption permitted through December 31, 2022. We expect to adopt ASC 2020-04 and ASC 2021-01 upon transition from LIBOR, prior to December 31, 2022. We do not expect the adoption to have a material impact on our consolidated financial statements.

Customer Accounts Receivable

6 Months Ended

Jul. 31, 2021

Receivables [Abstract]

Customer Accounts Receivable

Customer accounts receivable consisted of the following:


(in thousands)	July 31, 2021		January 31, 2021
Customer accounts receivable (1)	$	1,105,713	$	1,233,717
Deferred fees and origination costs, net	(13,265)		(14,212)
Allowance for no-interest option credit programs	(13,650)		(11,985)
Allowance for uncollectible interest	(11,868)		(21,427)
Carrying value of customer accounts receivable	1,066,930		1,186,093
Allowance for credit losses (2)	(190,231)		(276,610)
Carrying value of customer accounts receivable, net of allowance for credit losses	876,699		909,483
Short-term portion of customer accounts receivable, net	(461,491)		(478,734)
Long-term customer accounts receivable, net	$	415,208	$	430,749


	Carrying Value
(in thousands)	July 31, 2021		January 31, 2021
Customer accounts receivable 60+ days past due (3)	$	76,293	$	146,820
Re-aged customer accounts receivable (4)	218,086		306,845
Restructured customer accounts receivable (5)	130,725		178,374

(1)As of July 31, 2021 and January 31, 2021, the customer accounts receivable balance included $20.1 million and $31.1 million, respectively, in interest receivable. Net of the allowance for uncollectible interest, interest receivable outstanding as of July 31, 2021 and January 31, 2021 was $8.2 million and $9.7 million, respectively.

(2)Our current methodology to estimate expected credit losses utilized macroeconomic forecasts as of July 31, 2021 and 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 a decrease in unemployment rates.

(3)As of July 31, 2021 and January 31, 2021, the carrying value of customer accounts receivable past due one day or greater was $234.6 million and $340.8 million, respectively. These amounts include the 60+ days past due balances shown above.

(4)The re-aged carrying value as of July 31, 2021 and January 31, 2021 includes $42.4 million and $88.0 million, respectively, in carrying value that are both 60+ days past due and re-aged.

(5)The restructured carrying value as of July 31, 2021 and January 31, 2021 includes $26.7 million and $57.1 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)	July 31, 2021		January 31, 2021
Customer accounts receivable - current	$	575,231	$	643,903
Allowance for credit losses for customer accounts receivable - current	(113,740)		(165,169)
Customer accounts receivable, net of allowances	461,491		478,734
Customer accounts receivable - non current	503,567		563,617
Allowance for credit losses for customer accounts receivable - non current	(88,359)		(132,868)
Long-term portion of customer accounts receivable, net of allowances	415,208		430,749
Total customer accounts receivable, net	$	876,699	$	909,483

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


	Six Months Ended July 31, 2021						Six Months Ended July 31, 2020
(in thousands)	Customer Accounts Receivable		Restructured Accounts		Total		Customer Accounts Receivable		Restructured Accounts		Total
Allowance at beginning of period, prior to adoption of ASC 326	$	219,740	$	78,297	$	298,037	$	145,680	$	88,123	$	233,803
Impact of adoption ASC 326	—		—		—		95,136		3,526		98,662
Provision for (benefit from) credit losses (1)	(5,422)		13,333		7,911		138,395		42,541		180,936
Principal charge-offs (2)	(61,323)		(38,709)		(100,032)		(101,746)		(47,301)		(149,047)
Interest charge-offs	(16,997)		(10,729)		(27,726)		(29,135)		(13,545)		(42,680)
Recoveries (3)	14,657		9,252		23,909		10,269		4,773		15,042
Allowance at end of period	$	150,655	$	51,444	$	202,099	$	258,599	$	78,117	$	336,716
Average total customer portfolio balance	$	982,186	$	159,894	$	1,142,080	$	1,271,225	$	222,025	$	1,493,250

(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.

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 year of origination. The information is presented as of July 31, 2021:


(in thousands)
Delinquency Bucket	2021		2020		2019		2018		Prior		Total		% of Total
Current	$	358,052	$	291,693	$	150,885	$	27,872	$	3,813	$	832,315	78.0	%
1-30	27,833		44,758		36,874		11,070		1,755		122,290		11.5	%
31-60	7,311		12,236		11,779		4,034		672		36,032		3.4	%
61-90	3,700		7,390		6,720		2,438		478		20,726		1.9	%
91+	5,077		21,727		19,429		7,503		1,831		55,567		5.2	%
Total	$	401,973	$	377,804	$	225,687	$	52,917	$	8,549	$	1,066,930	100.0	%

Finance Charges and Other Revenue

6 Months Ended

Jul. 31, 2021

Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]

Finance Charges and Other Revenues

Finance charges and other revenues consisted of the following:


	Three Months Ended July 31,				Six Months Ended July 31,
(in thousands)	2021		2020		2021		2020
Interest income and fees	$	65,003	$	83,599	$	132,682	$	165,442
Insurance income	6,371		3,385		10,889		8,137
Other revenues	224		196		433		431
Total finance charges and other revenues	$	71,598	$	87,180	$	144,004	$	174,010

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

During the three months ended July 31, 2021 and 2020, interest income and fees reflected provisions for uncollectible interest of $7.4 million and $11.8 million, respectively. The amounts included in interest income and fees related to TDR accounts for the three months ended July 31, 2021 and 2020 were $6.7 million and $10.1 million, respectively. During the six months ended July 31, 2021 and 2020, interest income and fees reflected provisions for uncollectible interest of $14.9 million and $31.9 million, respectively. The amounts included in interest income and fees related to TDR accounts for the six months ended July 31, 2021 and 2020 were $14.2 million and $19.6 million, respectively.

Debt and Financing Lease Obligations

6 Months Ended

Jul. 31, 2021

Debt Disclosure [Abstract]

Debt and Financing Lease Obligations

Debt and financing lease obligations consisted of the following:


(in thousands)	July 31, 2021		January 31, 2021
Revolving Credit Facility	$	219,000	$	52,000
Senior Notes	—		141,172
2019-A VIE Asset-backed Class A Notes	—		19,521
2019-A VIE Asset-backed Class B Notes	—		25,069
2019-A VIE Asset-backed Class C Notes	—		24,202
2019-B VIE Asset-backed Class A Notes	—		17,860
2019-B VIE Asset-backed Class B Notes	19,078		85,540
2019-B VIE Asset-backed Class C Notes	83,270		83,270
2020-A VIE Asset-backed Class A Notes	22,986		93,326
2020-A VIE Asset-backed Class B Notes	45,909		65,200
2020-A VIE Asset-backed Class C Notes	44,290		—
Financing lease obligations	6,051		6,072
Total debt and financing lease obligations	440,584		613,232
Less:
Discount on debt	—		(524)
Deferred debt issuance costs	(971)		(3,139)
Current maturities of long-term debt and financing lease obligations	(1,371)		(934)
Long-term debt and financing lease obligations	$	438,242	$	608,635

Senior Notes. On July 1, 2014, we issued an aggregate principal amount of $250.0 million in unsecured 7.25% Senior Notes due 2022 (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. On April 15, 2021 we completed the redemption of all of our outstanding Senior Notes in an aggregate principal amount of $141.2 million.

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 RSAs on charge-offs of the securitized receivables, which are reflected as a reduction to net charge-offs on a consolidated basis.

The asset-backed notes were offered and sold to qualified institutional buyers pursuant to the exemptions from registration provided by Rule 144A under the Securities Act of 1933. 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 July 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-B Class B Notes	$	85,540	$	84,916	$	19,078	11/26/2019	6/17/2024	3.62%	4.58%
2019-B Class C Notes	83,270		82,456		83,270		11/26/2019	6/17/2024	4.60%	5.19%
2020-A Class A Notes	174,900		173,716		22,986		10/16/2020	6/16/2025	1.71%	4.56%
2020-A Class B Notes	65,200		64,754		45,909		10/16/2020	6/16/2025	4.27%	5.54%
2020-A Class C Notes	62,900		62,535		44,290		2/24/2021	6/16/2025	4.20%	5.75%
Total	$	471,810	$	468,377	$	215,533

(1)After giving effect to debt issuance costs.

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

On February 24, 2021, the Company completed the sale of $62.9 million aggregate principal amount of 4.20% Asset Backed 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.

On May 12, 2021, the Company completed the redemption of the 2019-A Asset Backed Notes at an aggregate redemption price of $41.1 million (which was equal to the entire outstanding principal balance plus accrued interest). We funded the redemption with cash on hand and borrowings under our Revolving Credit Facility.

Revolving Credit Facility. On March 29, 2021, Conn’s, Inc. and certain of its subsidiaries (the “Borrowers”) entered into the Fifth Amended and Restated Loan and Security Agreement (the “Fifth Amended and Restated Loan Agreement”), 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 March 29, 2025.

The Fifth Amended and Restated Loan Agreement, among other things, permits borrowings under the Letter of Credit Subline (as defined in the Fifth Amended and Restated Loan Agreement) that exceed the cap of $40 million to $100 million, solely at the discretion of the lenders for such amounts in excess of $40 million. The obligations under the Revolving Credit Facility are secured by substantially all assets of the Company, excluding the assets of the VIEs. As of July 31, 2021, we had immediately available borrowing capacity of $362.9 million under our Revolving Credit Facility, net of standby letters of credit issued of $22.5 million. We also had $45.6 million that may become available under our Revolving Credit Facility were we to grow the balance of eligible customer receivables and total eligible inventory balances.

Loans under the Revolving Credit Facility bear interest, at our option, at a rate of LIBOR plus a margin ranging from 2.50% to 3.25% per annum (depending on a pricing grid determined by our total leverage ratio) or the alternate base rate plus a margin ranging from 1.50% to 2.25% per annum (depending on a pricing grid determined by our total leverage ratio). 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 4.9% for the six months ended July 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 July 31, 2021, we were restricted from making distributions in excess of $217.6 million as a result of the Revolving Credit Facility distribution and payment 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 July 31, 2021. A summary of the significant financial covenants that govern our Revolving Credit Facility compared to our actual compliance status at July 31, 2021 is presented below:


	Actual	Required Minimum/ Maximum
Interest Coverage Ratio for the quarter must equal or exceed minimum	14.37:1.00	1.00:1.00
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	12.77:1.00	1.50:1.00
Leverage Ratio must not exceed maximum	1.20:1.00	4.50:1.00
ABS Excluded Leverage Ratio must not exceed maximum	0.91:1.00	2.50:1.00
Capital Expenditures, net, must not exceed maximum	$20.8 million	$100.0 million

All capitalized terms in the above table are defined in the Revolving Credit Facility and may or may not match 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.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Contingencies	6 Months Ended
Contingencies	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Securities Litigation. On May 15, 2020, a putative securities class action lawsuit was filed against us and two of our executive officers in the United States District Court for the Southern District of Texas, captioned Uddin v. Conn’s, Inc., et al., No. 4:20-1705 (“Uddin Action”). On November 16, 2020, the lead plaintiff voluntarily dismissed the action without prejudice. The court entered an order recognizing the dismissal on November 17, 2020. 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 April 29, 2022. 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. Since April 2018, this case has been abated pending the resolution of related cases. In July 2021, the parties requested that the court extend the abatement pending further developments in the Original Derivative Action. Other than Casey, none of the plaintiffs in the other derivative actions made a demand on our Board of Directors prior to filing their respective lawsuits. The defendants in the derivative actions intend to vigorously defend against these claims. It is not possible at this time to predict the timing or outcome of any of this litigation, and we cannot reasonably estimate the possible loss or range of possible loss from these claims. We are involved in other routine litigation and claims, incidental to our business from time to time which, individually or in the aggregate, are not expected to have a material adverse effect on us. As required, we accrue estimates of the probable costs for the resolution of these matters. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement strategies. However, the results of these proceedings cannot be predicted with certainty, and changes in facts and circumstances could impact our estimate of reserves for litigation. The Company believes that any probable and reasonably estimable loss associated with the foregoing has been adequately reflected in the accompanying financial statements.

Variable Interest Entity

6 Months Ended

Jul. 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)	July 31, 2021		January 31, 2021
Assets:
Restricted cash	$	28,911	$	48,622
Due from Conn’s, Inc., net	(10,367)		(5,661)
Customer accounts receivable:
Customer accounts receivable	225,602		509,574
Restructured accounts	81,179		105,395
Allowance for uncollectible accounts	(73,655)		(159,849)
Allowance for no-interest option credit programs	(475)		(5,502)
Deferred fees and origination costs	(2,386)		(5,503)
Total customer accounts receivable, net	230,265		444,115
Total assets	$	248,809	$	487,076
Liabilities:
Accrued expenses	$	1,871	$	3,707
Other liabilities	2,279		4,459

Long-term debt:
2019-A Class A Notes	—		19,521
2019-A Class B Notes	—		25,069
2019-A Class C Notes	—		24,202
2019-B Class A Notes	—		17,860
2019-B Class B Notes	19,078		85,540
2019-B Class C Notes	83,270		83,270
2020-A Class A Notes	22,986		93,326
2020-A Class B Notes	45,909		65,200
2020-A Class C Notes	44,290		—
	215,533		413,988
Less: deferred debt issuance costs	(971)		(2,437)
Total debt	$	214,562	$	411,551
Total liabilities	$	218,712	$	419,717

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 Reporting

6 Months Ended

Jul. 31, 2021

Segment Reporting [Abstract]

Segment Reporting Disclosure

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 Condensed Consolidated Financial Statements.

We evaluate a segment’s performance based upon operating income before taxes. Selling, general and administrative expenses (“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 July 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:


	Three Months Ended July 31, 2021						Three Months Ended July 31, 2020
(in thousands)	Retail		Credit		Total		Retail		Credit		Total
Revenues:
Furniture and mattress	$	109,259	$	—	$	109,259	$	80,984	$	—	$	80,984
Home appliance	135,444		—		135,444		107,682		—		107,682
Consumer electronics	48,413		—		48,413		47,384		—		47,384
Home office	17,986		—		17,986		14,979		—		14,979
Other	9,143		—		9,143		5,113		—		5,113
Product sales	320,245		—		320,245		256,142		—		256,142
Repair service agreement commissions	23,700		—		23,700		20,164		—		20,164
Service revenues	2,840		—		2,840		3,430		—		3,430
Total net sales	346,785		—		346,785		279,736		—		279,736
Finance charges and other revenues	224		71,374		71,598		196		86,984		87,180
Total revenues	347,009		71,374		418,383		279,932		86,984		366,916
Costs and expenses:
Cost of goods sold	216,042		—		216,042		176,623		—		176,623
Selling, general and administrative expense (1)	102,157		35,713		137,870		78,584		36,694		115,278
Provision for bad debts	142		10,120		10,262		182		31,863		32,045
Charges and credits	—		—		—		1,355		179		1,534
Total costs and expenses	318,341		45,833		364,174		256,744		68,736		325,480
Operating income	28,668		25,541		54,209		23,188		18,248		41,436
Interest expense	—		6,088		6,088		—		13,222		13,222
Income before income taxes	$	28,668	$	19,453	$	48,121	$	23,188	$	5,026	$	28,214


	Six Months Ended July 31, 2021						Six Months Ended July 31, 2020
(in thousands)	Retail		Credit		Total		Retail		Credit		Total
Revenues:
Furniture and mattress	$	203,750	$	—	$	203,750	$	149,877	$	—	$	149,877
Home appliance	248,705		—		248,705		188,967		—		188,967
Consumer electronics	86,451		—		86,451		83,160		—		83,160
Home office	32,507		—		32,507		32,345		—		32,345
Other	18,043		—		18,043		8,991		—		8,991
Product sales	589,456		—		589,456		463,340		—		463,340
Repair service agreement commissions	42,831		—		42,831		40,265		—		40,265
Service revenues	5,794		—		5,794		6,461		—		6,461
Total net sales	638,081		—		638,081		510,066		—		510,066
Finance charges and other revenues	433		143,571		144,004		431		173,579		174,010
Total revenues	638,514		143,571		782,085		510,497		173,579		684,076
Costs and expenses:
Cost of goods sold	400,921		—		400,921		323,637		—		323,637
Selling, general and administrative expense (1)	193,050		70,869		263,919		156,758		71,527		228,285
Provision for bad debts	160		(7,034)		(6,874)		350		149,021		149,371
Charges and credits	—		—		—		1,355		2,234		3,589
Total costs and expenses	594,131		63,835		657,966		482,100		222,782		704,882
Operating income (loss)	44,383		79,736		124,119		28,397		(49,203)		(20,806)
Interest expense	—		15,292		15,292		—		28,215		28,215
Loss on extinguishment of debt	—		1,218		1,218		—		—		—
Income (loss) before income taxes	$	44,383	$	63,226	$	107,609	$	28,397	$	(77,418)	$	(49,021)
	July 31, 2021						July 31, 2020
(in thousands)	Retail		Credit		Total		Retail		Credit		Total
Total assets	$	672,944	$	1,036,003	$	1,708,947	$	726,304	$	1,115,396	$	1,841,700

(1)For the three months ended July 31, 2021 and 2020, the amount of corporate overhead allocated to each segment reflected in SG&A was $9.8 million and $8.5 million, respectively. For the three months ended July 31, 2021 and 2020, the amount of reimbursement made to the retail segment by the credit segment was $6.9 million and $8.9 million, respectively. For the six months ended July 31, 2021 and 2020, the amount of corporate overhead allocated to each segment reflected in SG&A was $18.8 million and $15.7 million, respectively. For the six months ended July 31, 2021 and 2020, the amount of reimbursement made to the retail segment by the credit segment was $14.2 million and $18.7 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=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jul. 31, 2021

Accounting Policies [Abstract]

Business and Basis of Presentation

Fiscal Year

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

Principles of Consolidation

Variable Interest Entity

Refer to Note 4, Debt and Financing Lease Obligations, and Note 6, Variable Interest Entities, for additional information.

Use of Estimates

Cash and Cash Equivalents and Restricted Cash

Cash and Cash Equivalents. As of July 31, 2021 and January 31, 2021, cash and cash equivalents included cash and credit card deposits in transit. Credit card deposits in transit included in cash and cash equivalents were $6.8 million and $7.9 million as of July 31, 2021 and January 31, 2021, respectively. Restricted Cash. The restricted cash balance as of July 31, 2021 and January 31, 2021 includes $24.1 million and $41.6 million, respectively, of cash we collected as servicer on the securitized receivables that was subsequently remitted to the VIEs and $4.8 million and $7.0 million, respectively, of cash held by the VIEs as additional collateral for the asset-backed notes.

Customer Accounts Receivable

Interest Income on Customer Accounts Receivable

Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts

that affect the ability of borrowers to service their debts or our ability to collect will impact the future performance of the portfolio.

Debt Issuance Costs and Loss on Extinguishment of Debt

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 4, Debt and Financing Lease Obligations, are included in other assets on our Condensed Consolidated Balance Sheet and were $5.9 million and $3.5 million as of July 31, 2021 and January 31, 2021, respectively.Loss on Extinguishment. During the six months ended July 31, 2021, we incurred a loss of $1.0 million related to the retirement of the remaining $141.2 million aggregate principal amount of our 7.25% Senior Notes due 2022 (“Senior Notes”) and a loss of $0.2 million related to the amendment of our Fifth Amended and Restated Loan and Security Agreement.

Income Taxes

Share-based Compensation

The following table sets forth the RSUs and PSUs granted during the three and six months ended July 31, 2021 and 2020:


	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
RSUs (1)	41,087		101,774		381,731		622,195
PSUs (2)	—		—		152,349		270,828
Total stock awards granted	41,087		101,774		534,080		893,023
Aggregate grant date fair value (in thousands)	$	960	$	750	$	9,250	$	7,957

(1)The RSUs issued during the six months ended July 31, 2021 and 2020 are scheduled to vest ratably over periods of three years to four years from the date of grant.

Earnings per Share


	Three Months Ended July 31,		Six Months Ended July 31,
	2021	2020	2021	2020
Weighted-average common shares outstanding - Basic	29,438,605	29,070,607	29,382,162	28,948,216
Dilutive effect of stock options, PSUs and RSUs	773,843	69,939	690,239	—
Weighted-average common shares outstanding - Diluted	30,212,448	29,140,546	30,072,401	28,948,216

Fair Value of Financial Instruments

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

Deferred Revenue

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

Recent Accounting Pronouncements Adopted.

Recent Accounting Pronouncements Yet to Be Adopted.

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jul. 31, 2021

Accounting Policies [Abstract]

RSUs, PSUs and stock options granted during the period

The following table sets forth the RSUs and PSUs granted during the three and six months ended July 31, 2021 and 2020:


	Three Months Ended July 31,				Six Months Ended July 31,
	2021		2020		2021		2020
RSUs (1)	41,087		101,774		381,731		622,195
PSUs (2)	—		—		152,349		270,828
Total stock awards granted	41,087		101,774		534,080		893,023
Aggregate grant date fair value (in thousands)	$	960	$	750	$	9,250	$	7,957

(1)The RSUs issued during the six months ended July 31, 2021 and 2020 are scheduled to vest ratably over periods of three years to four years from the date of grant.

Shares outstanding for the earnings per share calculations

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


	Three Months Ended July 31,		Six Months Ended July 31,
	2021	2020	2021	2020
Weighted-average common shares outstanding - Basic	29,438,605	29,070,607	29,382,162	28,948,216
Dilutive effect of stock options, PSUs and RSUs	773,843	69,939	690,239	—
Weighted-average common shares outstanding - Diluted	30,212,448	29,140,546	30,072,401	28,948,216

Customer Accounts Receivable (Tables)

6 Months Ended

Jul. 31, 2021

Receivables [Abstract]

Allowance for doubtful accounts and uncollectible interest for customer receivables

Customer accounts receivable consisted of the following:


(in thousands)	July 31, 2021		January 31, 2021
Customer accounts receivable (1)	$	1,105,713	$	1,233,717
Deferred fees and origination costs, net	(13,265)		(14,212)
Allowance for no-interest option credit programs	(13,650)		(11,985)
Allowance for uncollectible interest	(11,868)		(21,427)
Carrying value of customer accounts receivable	1,066,930		1,186,093
Allowance for credit losses (2)	(190,231)		(276,610)
Carrying value of customer accounts receivable, net of allowance for credit losses	876,699		909,483
Short-term portion of customer accounts receivable, net	(461,491)		(478,734)
Long-term customer accounts receivable, net	$	415,208	$	430,749


	Carrying Value
(in thousands)	July 31, 2021		January 31, 2021
Customer accounts receivable 60+ days past due (3)	$	76,293	$	146,820
Re-aged customer accounts receivable (4)	218,086		306,845
Restructured customer accounts receivable (5)	130,725		178,374

(4)The re-aged carrying value as of July 31, 2021 and January 31, 2021 includes $42.4 million and $88.0 million, respectively, in carrying value that are both 60+ days past due and re-aged.

(5)The restructured carrying value as of July 31, 2021 and January 31, 2021 includes $26.7 million and $57.1 million, respectively, in carrying value that are both 60+ days past due and restructured.

Schedule of allowance for credit losses

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)	July 31, 2021		January 31, 2021
Customer accounts receivable - current	$	575,231	$	643,903
Allowance for credit losses for customer accounts receivable - current	(113,740)		(165,169)
Customer accounts receivable, net of allowances	461,491		478,734
Customer accounts receivable - non current	503,567		563,617
Allowance for credit losses for customer accounts receivable - non current	(88,359)		(132,868)
Long-term portion of customer accounts receivable, net of allowances	415,208		430,749
Total customer accounts receivable, net	$	876,699	$	909,483

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

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


	Six Months Ended July 31, 2021						Six Months Ended July 31, 2020
(in thousands)	Customer Accounts Receivable		Restructured Accounts		Total		Customer Accounts Receivable		Restructured Accounts		Total
Allowance at beginning of period, prior to adoption of ASC 326	$	219,740	$	78,297	$	298,037	$	145,680	$	88,123	$	233,803
Impact of adoption ASC 326	—		—		—		95,136		3,526		98,662
Provision for (benefit from) credit losses (1)	(5,422)		13,333		7,911		138,395		42,541		180,936
Principal charge-offs (2)	(61,323)		(38,709)		(100,032)		(101,746)		(47,301)		(149,047)
Interest charge-offs	(16,997)		(10,729)		(27,726)		(29,135)		(13,545)		(42,680)
Recoveries (3)	14,657		9,252		23,909		10,269		4,773		15,042
Allowance at end of period	$	150,655	$	51,444	$	202,099	$	258,599	$	78,117	$	336,716
Average total customer portfolio balance	$	982,186	$	159,894	$	1,142,080	$	1,271,225	$	222,025	$	1,493,250

(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.

Financing Receivable, Past Due [Table Text Block]


(in thousands)
Delinquency Bucket	2021		2020		2019		2018		Prior		Total		% of Total
Current	$	358,052	$	291,693	$	150,885	$	27,872	$	3,813	$	832,315	78.0	%
1-30	27,833		44,758		36,874		11,070		1,755		122,290		11.5	%
31-60	7,311		12,236		11,779		4,034		672		36,032		3.4	%
61-90	3,700		7,390		6,720		2,438		478		20,726		1.9	%
91+	5,077		21,727		19,429		7,503		1,831		55,567		5.2	%
Total	$	401,973	$	377,804	$	225,687	$	52,917	$	8,549	$	1,066,930	100.0	%

Finance Charges and Other Revenue (Tables)

6 Months Ended

Jul. 31, 2021

Supplemental Disclosure of Finance Charges and Other Revenue [Abstract]

Schedule of finance charges and other revenues

Finance charges and other revenues consisted of the following:


	Three Months Ended July 31,				Six Months Ended July 31,
(in thousands)	2021		2020		2021		2020
Interest income and fees	$	65,003	$	83,599	$	132,682	$	165,442
Insurance income	6,371		3,385		10,889		8,137
Other revenues	224		196		433		431
Total finance charges and other revenues	$	71,598	$	87,180	$	144,004	$	174,010

Debt and Financing Lease Obligations (Tables)

6 Months Ended

Jul. 31, 2021

Debt Disclosure [Abstract]

Long-term Debt

Debt and financing lease obligations consisted of the following:


(in thousands)	July 31, 2021		January 31, 2021
Revolving Credit Facility	$	219,000	$	52,000
Senior Notes	—		141,172
2019-A VIE Asset-backed Class A Notes	—		19,521
2019-A VIE Asset-backed Class B Notes	—		25,069
2019-A VIE Asset-backed Class C Notes	—		24,202
2019-B VIE Asset-backed Class A Notes	—		17,860
2019-B VIE Asset-backed Class B Notes	19,078		85,540
2019-B VIE Asset-backed Class C Notes	83,270		83,270
2020-A VIE Asset-backed Class A Notes	22,986		93,326
2020-A VIE Asset-backed Class B Notes	45,909		65,200
2020-A VIE Asset-backed Class C Notes	44,290		—
Financing lease obligations	6,051		6,072
Total debt and financing lease obligations	440,584		613,232
Less:
Discount on debt	—		(524)
Deferred debt issuance costs	(971)		(3,139)
Current maturities of long-term debt and financing lease obligations	(1,371)		(934)
Long-term debt and financing lease obligations	$	438,242	$	608,635

Schedule of Asset-backed Notes

The asset-backed notes outstanding as of July 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-B Class B Notes	$	85,540	$	84,916	$	19,078	11/26/2019	6/17/2024	3.62%	4.58%
2019-B Class C Notes	83,270		82,456		83,270		11/26/2019	6/17/2024	4.60%	5.19%
2020-A Class A Notes	174,900		173,716		22,986		10/16/2020	6/16/2025	1.71%	4.56%
2020-A Class B Notes	65,200		64,754		45,909		10/16/2020	6/16/2025	4.27%	5.54%
2020-A Class C Notes	62,900		62,535		44,290		2/24/2021	6/16/2025	4.20%	5.75%
Total	$	471,810	$	468,377	$	215,533

(1)After giving effect to debt issuance costs.

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

Covenant Compliance

A summary of the significant financial covenants that govern our Revolving Credit Facility compared to our actual compliance status at July 31, 2021 is presented below:


	Actual	Required Minimum/ Maximum
Interest Coverage Ratio for the quarter must equal or exceed minimum	14.37:1.00	1.00:1.00
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimum	12.77:1.00	1.50:1.00
Leverage Ratio must not exceed maximum	1.20:1.00	4.50:1.00
ABS Excluded Leverage Ratio must not exceed maximum	0.91:1.00	2.50:1.00
Capital Expenditures, net, must not exceed maximum	$20.8 million	$100.0 million

Variable Interest Entities (Tables)

6 Months Ended

Jul. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of assets and liabilities held by the VIE

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


(in thousands)	July 31, 2021		January 31, 2021
Assets:
Restricted cash	$	28,911	$	48,622
Due from Conn’s, Inc., net	(10,367)		(5,661)
Customer accounts receivable:
Customer accounts receivable	225,602		509,574
Restructured accounts	81,179		105,395
Allowance for uncollectible accounts	(73,655)		(159,849)
Allowance for no-interest option credit programs	(475)		(5,502)
Deferred fees and origination costs	(2,386)		(5,503)
Total customer accounts receivable, net	230,265		444,115
Total assets	$	248,809	$	487,076
Liabilities:
Accrued expenses	$	1,871	$	3,707
Other liabilities	2,279		4,459

Long-term debt:
2019-A Class A Notes	—		19,521
2019-A Class B Notes	—		25,069
2019-A Class C Notes	—		24,202
2019-B Class A Notes	—		17,860
2019-B Class B Notes	19,078		85,540
2019-B Class C Notes	83,270		83,270
2020-A Class A Notes	22,986		93,326
2020-A Class B Notes	45,909		65,200
2020-A Class C Notes	44,290		—
	215,533		413,988
Less: deferred debt issuance costs	(971)		(2,437)
Total debt	$	214,562	$	411,551
Total liabilities	$	218,712	$	419,717

- 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)

6 Months Ended

Jul. 31, 2021

Segment Reporting [Abstract]

Financial information by segment

Financial information by segment is presented in the following tables:


	Three Months Ended July 31, 2021						Three Months Ended July 31, 2020
(in thousands)	Retail		Credit		Total		Retail		Credit		Total
Revenues:
Furniture and mattress	$	109,259	$	—	$	109,259	$	80,984	$	—	$	80,984
Home appliance	135,444		—		135,444		107,682		—		107,682
Consumer electronics	48,413		—		48,413		47,384		—		47,384
Home office	17,986		—		17,986		14,979		—		14,979
Other	9,143		—		9,143		5,113		—		5,113
Product sales	320,245		—		320,245		256,142		—		256,142
Repair service agreement commissions	23,700		—		23,700		20,164		—		20,164
Service revenues	2,840		—		2,840		3,430		—		3,430
Total net sales	346,785		—		346,785		279,736		—		279,736
Finance charges and other revenues	224		71,374		71,598		196		86,984		87,180
Total revenues	347,009		71,374		418,383		279,932		86,984		366,916
Costs and expenses:
Cost of goods sold	216,042		—		216,042		176,623		—		176,623
Selling, general and administrative expense (1)	102,157		35,713		137,870		78,584		36,694		115,278
Provision for bad debts	142		10,120		10,262		182		31,863		32,045
Charges and credits	—		—		—		1,355		179		1,534
Total costs and expenses	318,341		45,833		364,174		256,744		68,736		325,480
Operating income	28,668		25,541		54,209		23,188		18,248		41,436
Interest expense	—		6,088		6,088		—		13,222		13,222
Income before income taxes	$	28,668	$	19,453	$	48,121	$	23,188	$	5,026	$	28,214


	Six Months Ended July 31, 2021						Six Months Ended July 31, 2020
(in thousands)	Retail		Credit		Total		Retail		Credit		Total
Revenues:
Furniture and mattress	$	203,750	$	—	$	203,750	$	149,877	$	—	$	149,877
Home appliance	248,705		—		248,705		188,967		—		188,967
Consumer electronics	86,451		—		86,451		83,160		—		83,160
Home office	32,507		—		32,507		32,345		—		32,345
Other	18,043		—		18,043		8,991		—		8,991
Product sales	589,456		—		589,456		463,340		—		463,340
Repair service agreement commissions	42,831		—		42,831		40,265		—		40,265
Service revenues	5,794		—		5,794		6,461		—		6,461
Total net sales	638,081		—		638,081		510,066		—		510,066
Finance charges and other revenues	433		143,571		144,004		431		173,579		174,010
Total revenues	638,514		143,571		782,085		510,497		173,579		684,076
Costs and expenses:
Cost of goods sold	400,921		—		400,921		323,637		—		323,637
Selling, general and administrative expense (1)	193,050		70,869		263,919		156,758		71,527		228,285
Provision for bad debts	160		(7,034)		(6,874)		350		149,021		149,371
Charges and credits	—		—		—		1,355		2,234		3,589
Total costs and expenses	594,131		63,835		657,966		482,100		222,782		704,882
Operating income (loss)	44,383		79,736		124,119		28,397		(49,203)		(20,806)
Interest expense	—		15,292		15,292		—		28,215		28,215
Loss on extinguishment of debt	—		1,218		1,218		—		—		—
Income (loss) before income taxes	$	44,383	$	63,226	$	107,609	$	28,397	$	(77,418)	$	(49,021)
	July 31, 2021						July 31, 2020
(in thousands)	Retail		Credit		Total		Retail		Credit		Total
Total assets	$	672,944	$	1,036,003	$	1,708,947	$	726,304	$	1,115,396	$	1,841,700

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021 USD ($)	Jul. 31, 2020 USD ($)	Jul. 31, 2021 USD ($) segment	Jul. 31, 2020 USD ($)	Apr. 15, 2021 USD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2020 USD ($)
Debt Instrument [Line Items]
Number of operating segments \| segment			2
Cash and Cash Equivalents and Restricted Cash
Cash and cash equivalents include credit card deposits in-transit	$ 6,800		$ 6,800			$ 7,900
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	30,961		30,961			50,557
Receivables [Abstract]
Customer receivables which were current prior to receiving a COVID-19 related deferment	33,500		33,500			65,200
Interest Income on Customer Accounts Receivable
Deferred revenue	8,400		8,400			8,900
Nonaccrual status	7,000		7,000			8,500
90 days past due and still accruing	55,200		55,200			111,500
Financing Receivable, Not past Due	6,400		6,400			5,200
Debt Issuance Costs
Deferred debt issuance costs	971		$ 971			3,139
Income Taxes
Effective tax rate			23.40%	27.20%
Fair Value of Financial Instruments
Loss on extinguishment of debt	0	$ 0	$ 1,218	$ 0
Long-term debt	215,533		215,533
Accounts Receivable, Allowance for Credit Loss	202,099	336,716	202,099	336,716		298,037	$ 233,803
Long-term customer accounts receivable, net	415,208		415,208			430,749
Income Tax Expense (Benefit)	11,117	7,694	25,207	(13,339)
Provision for bad debts	10,262	$ 32,045	(6,874)	$ 149,371
Customer accounts receivable, net of allowances (includes VIE balances of $159,338 and $259,811, respectively)	461,491		461,491			478,734
Income taxes receivable	32,223		32,223			38,059
Deferred income taxes	0		0			9,448
Customer Deposits [Member]
Fair Value of Financial Instruments
Deferred Revenue, Revenue Recognized			4,700
RSA Administration Fees [Member]
Fair Value of Financial Instruments
Deferred Revenue, Revenue Recognized			1,900
Secured Debt [Member]
Fair Value of Financial Instruments
Debt fair value	216,900		216,900
Revolving Credit Facility [Member]
Fair Value of Financial Instruments
Loss on extinguishment of debt			200
Revolving Credit Facility [Member]
Debt Issuance Costs
Deferred debt issuance costs	5,900		5,900			3,500
Securitized Receivables Servicer [Member]
Cash and Cash Equivalents and Restricted Cash
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	4,800		4,800			7,000
Collateral Held by VIE [Member]
Cash and Cash Equivalents and Restricted Cash
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	24,100		24,100			41,600
Senior Notes [Member]
Fair Value of Financial Instruments
Loss on extinguishment of debt			1,000
Long-term debt	0		0			$ 141,172
Debt Instrument, Repurchase Amount					$ 141,200
Secured Debt [Member]
Fair Value of Financial Instruments
Long-term debt	$ 215,500		$ 215,500

Summary of Significant Accounting Policies - Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock awards granted (in shares)	41,087	101,774	534,080	893,023
Aggregate grant date fair value	$ 960	$ 750	$ 9,250	$ 7,957
Dividend yield			0.00%
Stock-based compensation expense	$ 1,700	$ 2,300	$ 3,752	$ 4,683
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
(RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs (in shares)	41,087	101,774	381,731	622,195
(RSUs) [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
(RSUs) [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs and PSUs (in shares)	0	0	152,349	270,828
Expected volatility rate			83.00%	60.00%
Expected term			3 years	3 years
Risk free interest rate			0.17%	1.42%

Summary of Significant Accounting Policies - Earnings per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average common shares outstanding - Basic (in shares)	29,438,605	29,070,607	29,382,162	28,948,216
Dilutive effect of stock options, RSUs and PSUs (in shares)	773,843	69,939	690,239	0
Weighted average common shares outstanding - Diluted (in shares)	30,212,448	29,140,546	30,072,401	28,948,216
Restricted Stock Units And Phantom Share Units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average number of stock options and restricted stock units not included in the calculation of the dilutive effect of stock options and restricted stock units (in shares)	656,987	1,116,730	731,647	1,479,599

Customer Accounts Receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jan. 31, 2021
Quantitative information about the receivables portfolio managed [Abstract]
Customer accounts receivable (1)	$ 1,105,713		$ 1,233,717
Allowance for no-interest option credit programs	13,650		11,985
Allowance for uncollectible interest	11,868		21,427
Carrying value of customer accounts receivable	1,066,930		1,186,093
Allowance for credit losses	(190,231)		(276,610)
Total customer accounts receivable, net	876,699		909,483
Short-term portion of customer accounts receivable, net	(461,491)		(478,734)
Long-term customer accounts receivable, net	415,208		430,749
Customer accounts receivable 60 days past due	76,293		146,820
Re-aged customer accounts receivable	218,086		306,845
Restructured customer accounts receivable	130,725		178,374
Amounts included within past due and reaged accounts	42,400		88,000
Accounts Receivable, Restructured Accounts, Past Due	26,700		57,100
Interest receivable	20,100		31,100
Interest receivable outstanding net of allowance for uncollectible interest	8,200		9,700
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	298,037	$ 233,803
Provision	7,911	180,936
Principal charge-offs	(100,032)	(149,047)
Interest charge-offs	(27,726)	(42,680)
Recoveries	23,909	15,042
Allowance at end of period	202,099	336,716
Average total customer portfolio balance	1,142,080	1,493,250
Financing Receivable Past Due	234,600		340,800
Restructured Accounts [Member]
Quantitative information about the receivables portfolio managed [Abstract]
Deferred fees and origination costs, net	(13,265)		$ (14,212)
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	78,297	88,123
Provision	13,333	42,541
Principal charge-offs	(38,709)	(47,301)
Interest charge-offs	(10,729)	(13,545)
Recoveries	9,252	4,773
Allowance at end of period	51,444	78,117
Average total customer portfolio balance	159,894	222,025
Customer Accounts Receivable [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	219,740	145,680
Provision	(5,422)	138,395
Principal charge-offs	(61,323)	(101,746)
Interest charge-offs	(16,997)	(29,135)
Recoveries	14,657	10,269
Allowance at end of period	150,655	258,599
Average total customer portfolio balance	982,186	1,271,225
Cumulative Effect, Period Of Adoption, Adjustment [Member] \| 0
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	0
Allowance at end of period		98,662
Cumulative Effect, Period Of Adoption, Adjustment [Member] \| 0 \| Restructured Accounts [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	0
Allowance at end of period		3,526
Cumulative Effect, Period Of Adoption, Adjustment [Member] \| 0 \| Customer Accounts Receivable [Member]
Allowance for doubtful accounts and uncollectible interest for customer receivables [Abstract]
Allowance at beginning of period, prior to adoption of ASC 326	$ 0
Allowance at end of period		$ 95,136

Customer Accounts Receivable Delinquency Bucket (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 401,973
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	377,804
Financing Receivable, Originated Two Years before Latest Fiscal Year	225,687
Financing Receivable, Originated Three Years before Latest Fiscal Year	52,917
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	8,549
Carrying value of customer accounts receivable	$ 1,066,930	$ 1,186,093
Percent of Total Accounts Receivable	100.00%
Current [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 358,052
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	291,693
Financing Receivable, Originated Two Years before Latest Fiscal Year	150,885
Financing Receivable, Originated Three Years before Latest Fiscal Year	27,872
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	3,813
Carrying value of customer accounts receivable	$ 832,315
Percent of Total Accounts Receivable	78.00%
Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 27,833
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	44,758
Financing Receivable, Originated Two Years before Latest Fiscal Year	36,874
Financing Receivable, Originated Three Years before Latest Fiscal Year	11,070
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	1,755
Carrying value of customer accounts receivable	$ 122,290
Percent of Total Accounts Receivable	11.50%
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 7,311
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	12,236
Financing Receivable, Originated Two Years before Latest Fiscal Year	11,779
Financing Receivable, Originated Three Years before Latest Fiscal Year	4,034
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	672
Carrying value of customer accounts receivable	$ 36,032
Percent of Total Accounts Receivable	3.40%
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 3,700
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	7,390
Financing Receivable, Originated Two Years before Latest Fiscal Year	6,720
Financing Receivable, Originated Three Years before Latest Fiscal Year	2,438
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	478
Carrying value of customer accounts receivable	$ 20,726
Percent of Total Accounts Receivable	1.90%
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 5,077
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year	21,727
Financing Receivable, Originated Two Years before Latest Fiscal Year	19,429
Financing Receivable, Originated Three Years before Latest Fiscal Year	7,503
Financing Receivable, Originated Four or More Years before Latest Fiscal Year	1,831
Carrying value of customer accounts receivable	$ 55,567
Percent of Total Accounts Receivable	5.20%

Customer Accounts Receivable - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021
Receivables [Abstract]
Customer accounts receivable, net of allowances (includes VIE balances of $159,338 and $259,811, respectively)	$ 575,231	$ 643,903
Allowance for credit losses for customer accounts receivable - current	(113,740)	(165,169)
Customer accounts receivable, net of allowances	461,491	478,734
Customer accounts receivable - non current	503,567	563,617
Allowance for credit losses for customer accounts receivable - non current	(88,359)	(132,868)
Long-term portion of customer accounts receivable, net of allowances	415,208	430,749
Total customer accounts receivable, net	$ 876,699	$ 909,483

Finance Charges and Other Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2021	Jul. 31, 2020
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Interest income and fees	$ 65,003	$ 83,599	$ 132,682	$ 165,442
Insurance income	6,371	3,385	10,889	8,137
Other revenues	224	196	433	431
Provisions for uncollectible interest	7,400	11,800	14,900	31,900
Other Income	71,598	87,180	144,004	174,010
Financing Receivable [Member]
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Interest income and fees	$ 6,700	$ 10,100	$ 14,200	$ 19,600

Debt and Financing Lease Obligations - Schedule of Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 15, 2021	Feb. 24, 2021	Jan. 31, 2021
Long-term debt [Abstract]
Long-term debt	$ 215,533
Financing lease obligations	6,051			$ 6,072
Total debt and financing lease obligations	440,584			613,232
Less:
Discount on debt	0			(524)
Deferred debt issuance costs	(971)			(3,139)
Current maturities of long-term debt and financing lease obligations	(1,371)			(934)
Long-term debt and financing lease obligations	438,242			608,635
2019-B VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	$ 19,078
Less:
Contractual Interest Rate	3.62%
2019-B VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	$ 83,270
Less:
Contractual Interest Rate	4.60%
2020-A VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	$ 22,986
Less:
Contractual Interest Rate	1.71%
2020-A VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	$ 45,909
Less:
Contractual Interest Rate	4.27%
2020-A VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	$ 44,290
Less:
Contractual Interest Rate	4.20%		4.20%
Senior Notes [Member]
Long-term debt [Abstract]
Long-term debt	$ 0			141,172
Less:
Debt Instrument, Repurchase Amount		$ 141,200
Secured Debt [Member]
Long-term debt [Abstract]
Long-term debt	215,500
Secured Debt [Member] \| 2019-A VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	0			19,521
Secured Debt [Member] \| 2019-A VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	0			25,069
Secured Debt [Member] \| 2019-A VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	0			24,202
Secured Debt [Member] \| 2019-B VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	0			17,860
Secured Debt [Member] \| 2019-B VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	19,078			85,540
Secured Debt [Member] \| 2019-B VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	83,270			83,270
Secured Debt [Member] \| 2020-A VIE Class A Notes [Member]
Long-term debt [Abstract]
Long-term debt	22,986			93,326
Secured Debt [Member] \| 2020-A VIE Class B Notes [Member]
Long-term debt [Abstract]
Long-term debt	45,909			65,200
Secured Debt [Member] \| 2020-A VIE Class C Notes [Member]
Long-term debt [Abstract]
Long-term debt	44,290			0
Revolving Credit Facility [Member]
Less:
Deferred debt issuance costs	(5,900)			(3,500)
Revolving Credit Facility [Member] \| Line of Credit [Member]
Long-term debt [Abstract]
Long-term debt	$ 219,000			$ 52,000

Debt and Financing Lease Obligations - Senior Notes (Details) - USD ($)	Jul. 31, 2021	Apr. 15, 2021	Jul. 01, 2014
Debt Instrument [Line Items]
Original principal amount	$ 471,810,000
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount		$ 141,200,000
Senior Notes [Member] \| Senior Unsecured Notes Due July 2022 [Member]
Debt Instrument [Line Items]
Original principal amount			$ 250,000,000
Interest rate on notes (in hundredths)			7.25%
Line of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Restrictions on payment of dividends, amount free from restriction	$ 217,600,000

Debt and Financing Lease Obligations - Asset Backed Notes (Details) - USD ($) $ in Thousands				6 Months Ended
	Feb. 24, 2021	Oct. 16, 2020	Nov. 26, 2019	Jul. 31, 2021	May 12, 2021	Mar. 29, 2021	Jan. 31, 2021
Debt Instrument [Line Items]
Original Principal Amount				$ 471,810
Original Net Proceeds				468,377
Current Principal Amount				215,533
Minimum [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity						$ 40,000
Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				215,500
2019-A VIE Class A Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				0			$ 19,521
2019-A VIE Class B Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				0			25,069
2019-A VIE Class C Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				0			24,202
2019-B VIE Class A Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				0			17,860
2019-B VIE Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				85,540
Original Net Proceeds			$ 84,916
Current Principal Amount				$ 19,078
Contractual Interest Rate				3.62%
Effective Interest Rate				4.58%
2019-B VIE Class B Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 19,078			85,540
2019-B VIE Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				83,270
Original Net Proceeds			$ 82,456
Current Principal Amount				$ 83,270
Contractual Interest Rate				4.60%
Effective Interest Rate				5.19%
2019-B VIE Class C Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 83,270			83,270
2020-A VIE Class A Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				174,900
Original Net Proceeds		$ 173,716
Current Principal Amount				$ 22,986
Contractual Interest Rate				1.71%
Effective Interest Rate				4.56%
2020-A VIE Class A Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 22,986			93,326
2020-A VIE Class B Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount				65,200
Original Net Proceeds		$ 64,754
Current Principal Amount				$ 45,909
Contractual Interest Rate				4.27%
Effective Interest Rate				5.54%
2020-A VIE Class B Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 45,909			65,200
2020-A VIE Class C Notes [Member]
Debt Instrument [Line Items]
Original Principal Amount	$ 62,900			62,900
Original Net Proceeds	$ 62,535
Current Principal Amount				$ 44,290
Contractual Interest Rate	4.20%			4.20%
Effective Interest Rate				5.75%
2020-A VIE Class C Notes [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Current Principal Amount				$ 44,290			$ 0
2019-A VIE Notes \| Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Repurchase Amount					$ 41,100
Asset-backed Securities [Member]
Debt Instrument [Line Items]
Monthly fee percentage on outstanding balance				4.75%

Debt and Financing Lease Obligations - Revolving Credit Facility (Details) - USD ($)	Mar. 29, 2021	Jul. 31, 2021
Line of Credit Facility [Line Items]
Original principal amount		$ 471,810,000
Revolving Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 40,000,000
Revolving Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity	100,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum capacity extended under credit facility	$ 650,000,000
Weighted-average interest rate		4.90%
Debt Instrument, Restrictions on Payment of Dividends, Amount Free from Restriction		$ 217,600,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Unused capacity fee percentage	0.25%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Unused capacity fee percentage	0.50%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Alternate Base Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable basis spread	1.50%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Alternate Base Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable basis spread	2.25%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity		362,900,000
Sub-facility for letters of credit		22,500,000
Additional borrowing capacity		$ 45,600,000
Revolving Credit Facility [Member] \| LIBOR [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Variable basis spread	2.50%
Revolving Credit Facility [Member] \| LIBOR [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Variable basis spread	3.25%

Debt and Financing Lease Obligations - Debt Covenants (Details) $ in Millions	3 Months Ended
	Jul. 31, 2021 USD ($)
Debt Disclosure [Abstract]
Debt Instrument, Minimum Interest Coverage Ratio	1.00
Debt Instrument, Minimum Interest Coverage Ratio, Trailing Two Quarters	1.50
Actual
Leverage Ratio must not exceed (maximum)	1.20
ABS Excluded Leverage Ratio must not exceed (maximum)	0.91
Capital Expenditures, net, must not exceed (maximum)	$ 20.8
Required Minimum/ Maximum
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
Debt Instrument, Actual Interest Coverage Ratio	14.37
Debt Instrument, Actual Interest Coverage Ratio, Trailing Two Quarters	12.77

Variable Interest Entities - Additional Information (Details) $ in Thousands	6 Months Ended
	Jul. 31, 2021 USD ($)
Variable Interest Entity [Line Items]
Long-term debt	$ 215,533
Asset-backed Securities [Member]
Variable Interest Entity [Line Items]
Monthly fee percentage on outstanding balance	4.75%
Secured Debt [Member]
Variable Interest Entity [Line Items]
Long-term debt	$ 215,500

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Variable Interest Entities (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 31, 2021	Jul. 31, 2020	Jan. 31, 2020
Assets:
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	$ 30,961	$ 50,557
Customer accounts receivable:
Restructured accounts	130,725	178,374
Allowance for uncollectible accounts	(202,099)	(298,037)	$ (336,716)	$ (233,803)
Allowance for no-interest option credit programs	13,650	11,985
Total customer accounts receivable, net	876,699	909,483
Total assets	1,708,947	1,755,084	$ 1,841,700
Liabilities:
Total debt	215,533
Long-term debt	438,242	608,635
Less: deferred debt issuance costs	(971)	(3,139)
Total liabilities	1,066,497	1,197,929
2019-B VIE Class B Notes [Member]
Liabilities:
Total debt	19,078
2019-B VIE Class C Notes [Member]
Liabilities:
Total debt	83,270
2020-A VIE Class A Notes [Member]
Liabilities:
Total debt	22,986
2020-A VIE Class B Notes [Member]
Liabilities:
Total debt	45,909
2020-A VIE Class C Notes [Member]
Liabilities:
Total debt	44,290
Secured Debt [Member]
Liabilities:
Total debt	215,500
Secured Debt [Member] \| 2019-A VIE Class A Notes [Member]
Liabilities:
Total debt	0	19,521
Secured Debt [Member] \| 2019-A VIE Class B Notes [Member]
Liabilities:
Total debt	0	25,069
Secured Debt [Member] \| 2019-A VIE Class C Notes [Member]
Liabilities:
Total debt	0	24,202
Secured Debt [Member] \| 2019-B VIE Class A Notes [Member]
Liabilities:
Total debt	0	17,860
Secured Debt [Member] \| 2019-B VIE Class B Notes [Member]
Liabilities:
Total debt	19,078	85,540
Secured Debt [Member] \| 2019-B VIE Class C Notes [Member]
Liabilities:
Total debt	83,270	83,270
Secured Debt [Member] \| 2020-A VIE Class A Notes [Member]
Liabilities:
Total debt	22,986	93,326
Secured Debt [Member] \| 2020-A VIE Class B Notes [Member]
Liabilities:
Total debt	45,909	65,200
Secured Debt [Member] \| 2020-A VIE Class C Notes [Member]
Liabilities:
Total debt	44,290	0
Variable Interest Entity [Member]
Assets:
Restricted cash (includes VIE balances of $28,911 and $48,622, respectively)	28,911	48,622
Due from Conn’s, Inc., net		(5,661)
Due to Related Parties	(10,367)
Customer accounts receivable:
Customer accounts receivable	225,602	509,574
Restructured accounts	81,179	105,395
Allowance for uncollectible accounts	(73,655)	(159,849)
Allowance for no-interest option credit programs	475	5,502
Deferred fees and origination costs, net	(2,386)	(5,503)
Total customer accounts receivable, net	230,265	444,115
Total assets	248,809	487,076
Liabilities:
Accrued expenses	1,871	3,707
Other liabilities	2,279	4,459
Total debt	214,562	411,551
Long-term debt	215,533	413,988
Less: deferred debt issuance costs	(971)	(2,437)
Total liabilities	$ 218,712	$ 419,717

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details) $ in Thousands	Jul. 31, 2021 USD ($) state store	Jul. 31, 2020 USD ($)	Jul. 31, 2021 USD ($) segment state store	Jul. 31, 2020 USD ($)	Jan. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment			2
Estimated annual rate of reimbursement (in hundredths)			2.50%
Number of states with retail stores \| state	15		15
Revenues:
Other Income	$ 71,598	$ 87,180	$ 144,004	$ 174,010
Total revenues	418,383	366,916	782,085	684,076
Total Net Sales	346,785	279,736	638,081	510,066
Costs and expenses:
Cost of goods sold	216,042	176,623	400,921	323,637
Selling, general and administrative expense	137,870	115,278	263,919	228,285
Provision for bad debts	10,262	32,045	(6,874)	149,371
Charges and credits	0	1,534	0	3,589
Total costs and expenses	364,174	325,480	657,966	704,882
Operating Income (Loss), Total	54,209	41,436	124,119	(20,806)
Interest expense	6,088	13,222	15,292	28,215
Loss on extinguishment of debt	0	0	1,218	0
Income (loss) before income taxes	48,121	28,214	107,609	(49,021)
Allocation of overhead by operating segments	9,800	8,500	18,800	15,700
Assets	1,708,947	1,841,700	1,708,947	1,841,700	$ 1,755,084
Intersegment Eliminations [Member]
Revenues:
Total revenues	6,900	8,900	14,200	18,700
Retail [Member]
Revenues:
Other Income	224	196	433	431
Total revenues	347,009	279,932	638,514	510,497
Total Net Sales	346,785	279,736	638,081	510,066
Costs and expenses:
Cost of goods sold	216,042	176,623	400,921	323,637
Selling, general and administrative expense	102,157	78,584	193,050	156,758
Provision for bad debts	142	182	160	350
Charges and credits	0	1,355	0	1,355
Total costs and expenses	318,341	256,744	594,131	482,100
Operating Income (Loss), Total	28,668	23,188	44,383	28,397
Interest expense	0	0	0	0
Loss on extinguishment of debt			0	0
Income (loss) before income taxes	28,668	23,188	44,383	28,397
Assets	672,944	726,304	672,944	726,304
Credit [Member]
Revenues:
Other Income	71,374	86,984	143,571	173,579
Total revenues	71,374	86,984	143,571	173,579
Total Net Sales	0	0	0	0
Costs and expenses:
Cost of goods sold	0	0	0	0
Selling, general and administrative expense	35,713	36,694	70,869	71,527
Provision for bad debts	10,120	31,863	(7,034)	149,021
Charges and credits	0	179	0	2,234
Total costs and expenses	45,833	68,736	63,835	222,782
Operating Income (Loss), Total	25,541	18,248	79,736	(49,203)
Interest expense	6,088	13,222	15,292	28,215
Loss on extinguishment of debt			1,218	0
Income (loss) before income taxes	19,453	5,026	63,226	(77,418)
Assets	1,036,003	1,115,396	1,036,003	1,115,396
Furniture and Mattress [Member]
Revenues:
Total revenues	109,259	80,984	203,750	149,877
Furniture and Mattress [Member] \| Retail [Member]
Revenues:
Total revenues	109,259	80,984	203,750	149,877
Furniture and Mattress [Member] \| Credit [Member]
Revenues:
Total revenues	0	0	0	0
Home Appliance [Member]
Revenues:
Total revenues	135,444	107,682	248,705	188,967
Home Appliance [Member] \| Retail [Member]
Revenues:
Total revenues	135,444	107,682	248,705	188,967
Home Appliance [Member] \| Credit [Member]
Revenues:
Total revenues	0	0	0	0
Consumer Electronic [Member]
Revenues:
Total revenues	48,413	47,384	86,451	83,160
Consumer Electronic [Member] \| Retail [Member]
Revenues:
Total revenues	48,413	47,384	86,451	83,160
Consumer Electronic [Member] \| Credit [Member]
Revenues:
Total revenues	0	0	0	0
Home Office [Member]
Revenues:
Total revenues	17,986	14,979	32,507	32,345
Home Office [Member] \| Retail [Member]
Revenues:
Total revenues	17,986	14,979	32,507	32,345
Home Office [Member] \| Credit [Member]
Revenues:
Total revenues	0	0	0	0
Other [Member]
Revenues:
Total revenues	9,143	5,113	18,043	8,991
Other [Member] \| Retail [Member]
Revenues:
Total revenues	9,143	5,113	18,043	8,991
Other [Member] \| Credit [Member]
Revenues:
Total revenues	0	0	0	0
Product [Member]
Revenues:
Total revenues	320,245	256,142	589,456	463,340
Product [Member] \| Retail [Member]
Revenues:
Total revenues	320,245	256,142	589,456	463,340
Product [Member] \| Credit [Member]
Revenues:
Total revenues	0	0	0	0
RSA Commission [Member]
Revenues:
Total revenues	23,700	20,164	42,831	40,265
RSA Commission [Member] \| Retail [Member]
Revenues:
Total revenues	23,700	20,164	42,831	40,265
RSA Commission [Member] \| Credit [Member]
Revenues:
Total revenues	0	0	0	0
Service [Member]
Revenues:
Total revenues	2,840	3,430	5,794	6,461
Service [Member] \| Retail [Member]
Revenues:
Total revenues	2,840	3,430	5,794	6,461
Service [Member] \| Credit [Member]
Revenues:
Total revenues	$ 0	$ 0	$ 0	$ 0
Outside of US [Member]
Segment Reporting Information [Line Items]
Number of stores \| store	0		0