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Stock-Based Compensation (Notes) | 9 Months Ended
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Sep. 30, 2020
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | Common Stock and Stock-Based Compensation In March 2020, our Board of Directors authorized a stock repurchase program with respect to the purchase of up to an aggregate of $75 million of Rent-A-Center common stock, superseding our prior authorization. During the nine months ended September 30, 2020, the Company repurchased 1,463,377 shares of our common stock for an aggregate purchase price of $26.6 million, which includes shares having aggregate purchase price of $10.0 million that were purchased under a former repurchase program that was previously authorized by our Board of Directors. No shares were repurchased during the nine months ended September 30, 2019. Under the March 2020 authorization, $58.4 million remains available for repurchases in the open market and privately negotiated transactions. We recognized $3.0 million and $2.0 million in compensation expense related to stock options and restricted stock units during the three months ended September 30, 2020 and 2019, respectively, and $8.9 million and $4.6 million during the nine months ended September 30, 2020 and 2019, respectively. During the nine months ended September 30, 2020, we granted approximately 390,000 stock options, 400,000 market-based performance restricted stock units and 192,000 time-vesting restricted stock units. The stock options granted were valued using a Black-Scholes pricing model with the following assumptions: an expected volatility of 45.62% to 54.72%, a risk-free interest rate of 0.22% to 1.72%, an expected dividend yield of 4.02% to 8.20%, and an expected term of 3.50 to 5.75 years. The weighted-average exercise price of the options granted during the nine months ended September 30, 2020 was $24.47 and the weighted-average grant-date fair value was $6.94. Performance-based restricted stock units are valued using a Monte Carlo simulation. Time-vesting restricted stock units are valued using the closing price on the trading day immediately preceding the day of the grant. The weighted-average grant date fair value of the market-based performance and time-vesting restricted stock units granted during the nine months ended September 30, 2020 was $29.05 and $25.06, respectively.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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