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Segment Information (Notes) | 9 Months Ended
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Sep. 30, 2020
Segment Information [Abstract] |
Segment Information | Segment Information The operating segments reported below are the segments for which separate financial information is available and for which segment results are evaluated by the chief operating decision makers. Our operating segments are organized based on factors including, but not limited to, type of business transactions, geographic location and store ownership. All operating segments offer merchandise from certain basic product categories: furniture, consumer electronics, appliances, computers, and accessories. Smartphones are also offered in our Rent-A-Center Business stores and franchise locations. In addition, in the Rent-A-Center Business segment, we have recently expanded into other product categories including, tires, tools, handbags, jewelry and other accessories. Segment information for the three and nine months ended September 30, 2020 and 2019 is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Revenues |  |  |  |  |  |  |
Rent-A-Center Business | $ | 474,223 |  |  | $ | 436,497 |  |  | $ | 1,388,380 |  |  | $ | 1,361,650 |
Preferred Lease | 201,659 |  |  | 184,486 |  |  | 609,029 |  |  | 557,397 |
Mexico | 12,159 |  |  | 13,370 |  |  | 36,316 |  |  | 40,266 |
Franchising | 23,974 |  |  | 15,018 |  |  | 63,975 |  |  | 42,677 |
Total revenues | $ | 712,015 |  |  | $ | 649,371 |  |  | $ | 2,097,700 |  |  | $ | 2,001,990 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Gross profit |  |  |  |  |  |  |
Rent-A-Center Business | $ | 332,742 |  |  | $ | 306,881 |  |  | $ | 966,347 |  |  | $ | 945,392 |
Preferred Lease | 78,727 |  |  | 80,113 |  |  | 238,433 |  |  | 246,821 |
Mexico | 8,655 |  |  | 9,286 |  |  | 25,615 |  |  | 27,966 |
Franchising | 4,904 |  |  | 3,716 |  |  | 14,343 |  |  | 12,754 |
Total gross profit | $ | 425,028 |  |  | $ | 399,996 |  |  | $ | 1,244,738 |  |  | $ | 1,232,933 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Operating profit |  |  |  |  |  |  |
Rent-A-Center Business | $ | 99,950 |  |  | $ | 52,175 |  |  | $ | 253,025 |  |  | $ | 170,411 |
Preferred Lease | 16,073 |  |  | 21,830 |  |  | 40,528 |  |  | 66,077 |
Mexico | 1,724 |  |  | 1,213 |  |  | 3,743 |  |  | 3,906 |
Franchising | 3,146 |  |  | 1,135 |  |  | 8,694 |  |  | 4,716 |
Total segments | 120,893 |  |  | 76,353 |  |  | 305,990 |  |  | 245,110 |
Corporate | (40,706) |  |  | (37,506) |  |  | (123,293) |  |  | (59,085) |
Total operating profit | $ | 80,187 |  |  | $ | 38,847 |  |  | $ | 182,697 |  |  | $ | 186,025 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Depreciation and amortization |  |  |  |  |  |  |
Rent-A-Center Business | $ | 4,926 |  |  | $ | 5,037 |  |  | $ | 14,759 |  |  | $ | 15,619 |
Preferred Lease | 541 |  |  | 379 |  |  | 1,542 |  |  | 1,040 |
Mexico | 104 |  |  | 82 |  |  | 292 |  |  | 317 |
Franchising | 15 |  |  | 3 |  |  | 28 |  |  | 42 |
Total segments | 5,586 |  |  | 5,501 |  |  | 16,621 |  |  | 17,018 |
Corporate | 8,224 |  |  | 9,393 |  |  | 26,450 |  |  | 28,770 |
Total depreciation and amortization | $ | 13,810 |  |  | $ | 14,894 |  |  | $ | 43,071 |  |  | $ | 45,788 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Capital expenditures |  |  |  |  |  |  |
Rent-A-Center Business | $ | 5,721 |  |  | $ | 4,129 |  |  | $ | 10,205 |  |  | $ | 5,594 |
Preferred Lease | 20 |  |  | 24 |  |  | 106 |  |  | 125 |
Mexico | 116 |  |  | 35 |  |  | 205 |  |  | 65 |
Total segments | 5,857 |  |  | 4,188 |  |  | 10,516 |  |  | 5,784 |
Corporate | 1,950 |  |  | 2,734 |  |  | 12,041 |  |  | 6,226 |
Total capital expenditures | $ | 7,807 |  |  | $ | 6,922 |  |  | $ | 22,557 |  |  | $ | 12,010 |
(in thousands) | September 30, 2020 |  | December 31, 2019
On rent rental merchandise, net |  |  |
Rent-A-Center Business | $ | 417,212 |  |  | $ | 411,482 |
Preferred Lease | 249,266 |  |  | 268,845 |
Mexico | 14,477 |  |  | 16,943 |
Total on rent rental merchandise, net | $ | 680,955 |  |  | $ | 697,270 |
(in thousands) | September 30, 2020 |  | December 31, 2019
Held for rent rental merchandise, net |  |  |
Rent-A-Center Business | $ | 112,176 |  |  | $ | 131,086 |
Preferred Lease | 1,969 |  |  | 1,254 |
Mexico | 5,758 |  |  | 6,078 |
Total held for rent rental merchandise, net | $ | 119,903 |  |  | $ | 138,418 |
(in thousands) | September 30, 2020 |  | December 31, 2019
Assets by segment |  |  |
Rent-A-Center Business | $ | 916,894 |  |  | $ | 953,151 |
Preferred Lease | 337,752 |  |  | 357,859 |
Mexico | 33,957 |  |  | 33,707 |
Franchising | 12,044 |  |  | 11,095 |
Total segments | 1,300,647 |  |  | 1,355,812 |
Corporate | 366,918 |  |  | 226,986 |
Total assets | $ | 1,667,565 |  |  | $ | 1,582,798 |

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- Definition Segment Information [Abstract] + References No definition available. + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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