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Segment Information (Notes) | 12 Months Ended
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Dec. 31, 2021
Segment Information [Abstract] |
Segment Information [Text Block] | 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. Within our operating segments, we offer merchandise for lease from certain basic product categories: furniture, including mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories. We report financial operating performance under four operating segments. To better reflect the Company's current strategic focus, our retail partner business operations are now reported as the Acima segment (formerly Preferred Lease), which includes our virtual and staffed business models; and our Rent-A-Center Business segment (formerly Core U.S.), which operates our company-owned stores and e-commerce platform through rentacenter.com. In addition, we report operating results for our Mexico and Franchising segments. Reportable segments and their respective operations are defined as follows. Our Rent-A-Center Business segment primarily operates lease-to-own stores in the United States and Puerto Rico whose customers enter into weekly, semi-monthly or monthly rental purchase agreements, which renew automatically upon receipt of each payment. We retain the title to the merchandise during the term of the rental purchase agreement and ownership passes to the customer if the customer has continuously renewed the rental purchase agreement through the end of the term or exercises a specified early purchase option. This segment also includes the 45 stores operating in two states that utilize a retail model which generates installment credit sales through a retail sale transaction. Segment assets include cash, receivables, rental merchandise, property assets and other intangible assets. Our Acima segment, which primarily operates in the United States and Puerto Rico, and which includes the operations of Acima Holdings acquired in February 2021 and our former Preferred Lease virtual and staffed locations, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer. The Acima segment offers the lease-to-own transaction through our virtual offering solutions across e-commerce, digital, and mobile channels, and through staffed and unstaffed kiosks located within such retailer’s locations. Our Mexico segment currently consists of our company-owned lease-to-own stores in Mexico. The nature of this segment's operations and assets are the same as our Rent-A-Center Business segment. The stores in our Franchising segment use Rent-A-Center’s, ColorTyme’s or RimTyme’s trade names, service marks, trademarks and logos, and operate under distinctive operating procedures and standards. Franchising’s primary source of revenue is the sale of rental merchandise to its franchisees who, in turn, offer the merchandise to the general public for rent or purchase under a lease-to-own program. As franchisor, Franchising receives royalties of 2.0% to 6.0% of the franchisees' monthly gross revenue and initial fees for new locations. Segment assets include cash, trade receivables, property assets and intangible assets. Segment information as of and for the years ended December 31, 2021, 2020, and 2019 is as follows:
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Revenues |  |  |  |  |
Rent-A-Center Business | $ | 2,037,849 |  |  | $ | 1,852,641 |  |  | $ | 1,800,486 |
Acima | 2,328,089 |  |  | 810,151 |  |  | 749,260 |
Mexico | 61,403 |  |  | 50,583 |  |  | 53,960 |
Franchising | 156,110 |  |  | 100,816 |  |  | 66,146 |
Total revenues | $ | 4,583,451 |  |  | $ | 2,814,191 |  |  | $ | 2,669,852 |
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Gross profit |  |  |  |  |
Rent-A-Center Business | $ | 1,433,536 |  |  | $ | 1,294,695 |  |  | $ | 1,255,153 |
Acima | 728,852 |  |  | 321,110 |  |  | 333,798 |
Mexico | 43,117 |  |  | 35,665 |  |  | 37,488 |
Franchising | 29,507 |  |  | 20,682 |  |  | 17,632 |
Total gross profit | $ | 2,235,012 |  |  | $ | 1,672,152 |  |  | $ | 1,644,071 |
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Operating profit |  |  |  |  |
Rent-A-Center Business | $ | 448,905 |  |  | $ | 333,379 |  |  | $ | 235,964 |
Acima | 176,496 |  |  | 57,847 |  |  | 83,066 |
Mexico | 7,858 |  |  | 5,798 |  |  | 5,357 |
Franchising | 20,321 |  |  | 12,570 |  |  | 7,205 |
Total segments | 653,580 |  |  | 409,594 |  |  | 331,592 |
Corporate(1) | (373,041) |  |  | (172,258) |  |  | (77,733) |
Total operating profit | $ | 280,539 |  |  | $ | 237,336 |  |  | $ | 253,859 |
(1) Includes stock compensation expense of $127.1 million recognized in 2021, related to common stock issued to Acima Holdings employees under restricted stock agreements as part of the acquisition consideration subject to vesting restrictions as described in Note N.
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Depreciation, amortization and write-down of intangibles |  |  |  |  |
Rent-A-Center Business | $ | 18,588 |  |  | $ | 19,912 |  |  | $ | 20,822 |
Acima(1)(2) | 2,122 |  |  | 2,066 |  |  | 1,533 |
Mexico | 511 |  |  | 413 |  |  | 401 |
Franchising | 93 |  |  | 40 |  |  | 45 |
Total segments | 21,314 |  |  | 22,431 |  |  | 22,801 |
Corporate | 33,516 |  |  | 34,227 |  |  | 38,303 |
Total depreciation, amortization and write-down of intangibles | $ | 54,830 |  |  | $ | 56,658 |  |  | $ | 61,104 |
(1)Excludes amortization expense of approximately $101.7 million for the twelve months ended December 31, 2021, recorded to Other charges (gains) in the Consolidated Statement of Operations, related to intangible assets acquired upon closing of the Acima Holdings acquisition, see Note N for additional information. (2)Excludes depreciation expense of approximately $13.2 million for the twelve months ended December 31, 2021, recorded to Other charges (gains) in the Consolidated Statement of Operations, related to software acquired upon closing of the Acima Holdings acquisition, see Note N for additional information.
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Capital expenditures |  |  |  |  |
Rent-A-Center Business | $ | 23,139 |  |  | $ | 14,869 |  |  | $ | 10,255 |
Acima | 1,045 |  |  | 161 |  |  | 141 |
Mexico | 1,032 |  |  | 392 |  |  | 172 |
Total segments | 25,216 |  |  | 15,422 |  |  | 10,568 |
Corporate | 37,234 |  |  | 19,123 |  |  | 10,589 |
Total capital expenditures | $ | 62,450 |  |  | $ | 34,545 |  |  | $ | 21,157 |
| December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
On rent rental merchandise, net |  |  |  |  |
Rent-A-Center Business | $ | 477,901 |  |  | $ | 444,945 |  |  | $ | 411,482 |
Acima | 676,279 |  |  | 299,660 |  |  | 268,845 |
Mexico | 18,844 |  |  | 18,281 |  |  | 16,943 |
Total on rent rental merchandise, net | $ | 1,173,024 |  |  | $ | 762,886 |  |  | $ | 697,270 |
| December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Held for rent rental merchandise, net |  |  |  |  |
Rent-A-Center Business | $ | 123,111 |  |  | $ | 136,219 |  |  | $ | 131,086 |
Acima | 626 |  |  | 2,228 |  |  | 1,254 |
Mexico | 9,247 |  |  | 7,819 |  |  | 6,078 |
Total held for rent rental merchandise, net | $ | 132,984 |  |  | $ | 146,266 |  |  | $ | 138,418 |
| December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Assets by segment |  |  |  |  |
Rent-A-Center Business | $ | 1,026,886 |  |  | $ | 999,252 |  |  | $ | 953,151 |
Acima | 1,476,752 |  |  | 389,650 |  |  | 357,859 |
Mexico | 41,669 |  |  | 42,278 |  |  | 33,707 |
Franchising | 15,412 |  |  | 14,729 |  |  | 11,095 |
Total segments | 2,560,719 |  |  | 1,445,909 |  |  | 1,355,812 |
Corporate | 432,608 |  |  | 305,071 |  |  | 226,986 |
Total assets | $ | 2,993,327 |  |  | $ | 1,750,980 |  |  | $ | 1,582,798 |
| December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Assets by country |  |  |  |  |
United States | $ | 2,951,658 |  |  | $ | 1,708,702 |  |  | $ | 1,547,895 |
Mexico | 41,669 |  |  | 42,278 |  |  | 33,707 |
Canada | — |  |  | — |  |  | 1,196 |
Total assets | $ | 2,993,327 |  |  | $ | 1,750,980 |  |  | $ | 1,582,798 |
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Rentals and fees by inventory category |  |  |  |  |
Furniture and accessories | $ | 1,542,003 |  |  | $ | 1,028,876 |  |  | $ | 982,644 |
Consumer electronics | 435,004 |  |  | 358,931 |  |  | 346,668 |
Appliances | 426,316 |  |  | 322,261 |  |  | 358,619 |
Wheels and tires | 280,132 |  |  | — |  |  | — |
Computers | 155,313 |  |  | 119,015 |  |  | 103,171 |
Jewelry | 146,477 |  |  | — |  |  | — |
Smartphones | 61,058 |  |  | 59,205 |  |  | 62,948 |
Other products and services | 476,150 |  |  | 374,803 |  |  | 370,352 |
Total rentals and fees | $ | 3,522,453 |  |  | $ | 2,263,091 |  |  | $ | 2,224,402 |
| Year Ended December 31,
(In thousands) | 2021 |  | 2020 |  | 2019
Revenue by country |  |  |  |  |
United States | $ | 4,522,048 |  |  | $ | 2,763,608 |  |  | $ | 2,615,892 |
Mexico | 61,403 |  |  | 50,583 |  |  | 53,960 |
Total revenues | $ | 4,583,451 |  |  | $ | 2,814,191 |  |  | $ | 2,669,852 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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