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Repurchases of Outstanding Securities | 9 Months Ended
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Sep. 30, 2013
Repurchases of Outstanding Securities [Abstract] |
Repurchases of Outstanding Securities | . Under our current common stock repurchase program, our Board of Directors has authorized the purchase, from time to time, in the open market and privately negotiated transactions, of up to an aggregate of $1.25 billion of Rent-A-Center common stock. On May 2, 2013, we entered into an agreement with Goldman, Sachs & Co. ("Goldman Sachs") to repurchase $200.0 million of Rent-A-Center common stock under an accelerated stock buyback program ("the ASB transaction"). Under the agreement, we paid $200.0 million to Goldman Sachs on May 7, 2013, and we received an initial share delivery of 4,592,423 shares, which was estimated to represent 80% of shares expected to be purchased in the ASB transaction. The weighted value of these shares immediately reduced weighted-average shares outstanding in our calculation of earnings per share. The remainder of the ASB transaction was subject to a forward contract that settled in October 2013, at which time we received an additional 816,916 shares, ending the ASB transaction. Our consolidated balance sheet as of September 30, 2013, reflects $160.0 million in treasury stock and $40.0 million in additional paid-in capital. Upon final settlement in October 2013, $40.0 million will be reclassified from additional paid-in capital to treasury stock. We have repurchased a total of 36,177,737 shares and 31,120,279 shares of Rent-A-Center common stock for an aggregate purchase price of $994.8 million and $777.3 million as of September 30, 2013, and December 31, 2012, respectively, under our common stock repurchase program. In addition to the 4,592,423 shares repurchased pursuant to the accelerated stock buyback in the second quarter of 2013, we repurchased 465,035 shares for $17.4 million in the first quarter of 2013, and no shares were repurchased in the third quarter of 2013.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References No definition available. + Details
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