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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combinations [Abstract] |
Acima acquisition [Table Text Block] | The following table provides the estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date:
(in thousands) | February 17, 2021
Aggregate cash consideration | $ | 1,273,263 |
Aggregate stock consideration, subject to lockup agreements | 120,929 |
Total Purchase price | $ | 1,394,192 |
ASSETS ACQUIRED |
Receivables, net(1) | $ | 25,255 |
Prepaid expenses and other assets | 700 |
Rental merchandise |
On rent | 340,575 |
Property assets | 171,455 |
Operating lease right-of-use assets | 9,136 |
Deferred income taxes | 28,559 |
Goodwill | 219,530 |
Other intangible assets | 520,000 |
Total assets acquired | $ | 1,315,210 |
LIABILITIES ASSUMED |
Accounts payable - trade | 16,023 |
Accrued liabilities | 11,716 |
Operating lease liabilities | 9,689 |
Deferred income taxes | (116,410) |
Total liabilities assumed | (78,982) |
Total equity value | $ | 1,394,192 |
(1) Includes gross contractual receivables of $61.6 million related to merchandise lease contracts, of which $34.7 million were estimated to be uncollectible.
Acquisitions [Table Text Block] | The following table provides information concerning other store acquisitions completed during the years ended December 31, 2021, 2020 and 2019.
| Year Ended December 31, |
(Dollar amounts in thousands) | 2021 |  | 2020 |  | 2019 |
Number of stores acquired remaining open | 1 |  |  | — |  |  | — |  |
Number of stores acquired that were merged with existing stores | — |  |  | 2 |  |  | 4 |  |
Number of transactions | 1 |  |  | 2 |  |  | 4 |  |
Total purchase price | $ | 278 |  |  | $ | 700 |  |  | $ | 504 |  |
Amounts allocated to: |  |  |  |  |  |
Goodwill | $ | — |  |  | $ | — |  |  | $ | 66 |  |
Customer relationships | 30 |  |  | 177 |  |  | 85 |  |
Rental merchandise | 248 |  |  | 523 |  |  | 353 |  |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The fair value measurements for acquired intangible assets and developed technology were primarily based on significant unobservable inputs (Level 3) developed using company-specific information. Certain fair value estimates were determined based on an independent valuation of the net assets acquired, including $340.6 million of rental merchandise and $520 million of identifiable intangible assets with an estimated weighted average useful life of 8 years, as follows:
Asset Class | Estimated Fair Value (in thousands) | Estimated Remaining Useful Life (in years)
Merchant relationships | $ | 380,000 |  | 10
Relationship with existing lessees | 60,000 |  | 1
Trade name | 40,000 |  | 7
Non-compete agreements | 40,000 |  | 3
Pro Forma combined results | The unaudited pro forma financial information is as follows:
|  |  | Year Ended December 31,
(in thousands) |  |  |  |  | 2021 |  | 2020
|  |  |  |  | (unaudited) |  | (unaudited)
Pro Forma total revenues |  |  |  |  | $ | 4,778,055 |  |  | $ | 4,071,990 |
Pro Forma net earnings(1) |  |  |  |  | 178,103 |  |  | 66,352 |
(1)Total pro forma adjustments to net earnings represented an increase of $16.0 million and a decrease of $356.8 million for the twelve months ended December 31, 2021 and 2020, respectively. The amounts of revenue and earnings of Acima Holdings included in our Consolidated Statements of Operations as of December 31, 2021 and 2020 from the acquisition date of February 17th for each year presented are as follows:
(in thousands) | February 17, 2021 - December 31, 2021 | February 17, 2020 - December 31, 2020
| audited | (unaudited)
Total revenues | $ | 1,495,746 |  | $ | 1,116,430 |
Net earnings(1) | 119,183 |  | 196,088 |
(1)Net Earnings for the period February 17, 2021 - December 31, 2021 includes amortization of intangible assets acquired upon closing of the Acima Holdings acquisition.
Merchant Preferred acquisition | The following table provides the final estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date:
(in thousands) | August 13, 2019
Receivables | $ | 1,813 |
Prepaid expenses and other assets | 154 |
Rental merchandise | 17,904 |
Software | 4,300 |
Right of use operating leases | 404 |
Other intangible assets | 8,900 |
Goodwill | 13,403 |
Lease liabilities | (487) |
Net identifiable assets acquired | $ | 46,391 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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