XML 34 R17.htm IDEA: XBRL DOCUMENT v3.20.4
Intangible Assets and Acquisitions
12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Acquisitions [Text Block] Goodwill and Other Intangible Assets
Goodwill
In the fourth quarter of 2020, we completed a qualitative assessment for impairment of goodwill as of October 1, 2020, concluding it was not more likely than not that the carrying value of the net assets of our reporting units exceeded their respective fair values and therefore no impairment of goodwill existed as of December 31, 2020.
At December 31, 2020 and 2019, the amount of goodwill attributable to the Rent-A-Center Business and Preferred Lease segments was approximately $1.5 million and $68.7 million, respectively.
A summary of the changes in recorded goodwill follows:
 Year Ended December 31,
 (In thousands)
20202019
Beginning goodwill balance$70,217 $56,845 
Additions from acquisitions— 13,700 
Post purchase price allocation adjustments— (328)
Ending goodwill balance$70,217 $70,217 
Other Intangible Assets
Amortizable intangible assets consist of the following:
  December 31, 2020December 31, 2019
 (Dollar amounts in thousands)
Avg.
Life
(years)
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Customer relationships2$80,008 $79,853 $80,036 $79,941 
Vendor relationships99,760 2,046 9,760 1,113 
Non-compete agreements36,719 6,719 6,747 6,727 
Total other intangible assets$96,487 $88,618 $96,543 $87,781 
Aggregate amortization expense (in thousands):
Year Ended December 31, 2020$1,070 
Year Ended December 31, 2019$723 
Year Ended December 31, 2018$671 
Estimated amortization expense, assuming current intangible balances and no new acquisitions, for each of the years ending December 31, is as follows: 
(In thousands)Estimated
Amortization Expense
2021$1,008 
2022927 
2023890 
2024890 
2025890 
Thereafter3,264 
Total amortization expense$7,869