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v3.22.1

Segment Information (Notes) | 3 Months Ended
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Mar. 31, 2022
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. 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. Segment information as of and for the three months ended March 31, 2022 and 2021 is as follows:
|  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  | 2022 |  | 2021
Revenues |  |  |  |  |  |  |
Rent-A-Center Business |  |  |  |  | $ | 518,505 |  |  | $ | 524,866 |
Acima |  |  |  |  | 599,377 |  |  | 457,449 |
Mexico |  |  |  |  | 15,712 |  |  | 14,498 |
Franchising |  |  |  |  | 26,128 |  |  | 39,969 |
Total revenues |  |  |  |  | $ | 1,159,722 |  |  | $ | 1,036,782 |
|  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  | 2022 |  | 2021
Gross profit |  |  |  |  |  |  |
Rent-A-Center Business |  |  |  |  | $ | 363,380 |  |  | $ | 359,169 |
Acima |  |  |  |  | 164,228 |  |  | 134,250 |
Mexico |  |  |  |  | 11,101 |  |  | 10,212 |
Franchising |  |  |  |  | 7,386 |  |  | 6,892 |
Total gross profit |  |  |  |  | $ | 546,095 |  |  | $ | 510,523 |
|  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  | 2022 |  | 2021
Operating profit |  |  |  |  |  |  |
Rent-A-Center Business |  |  |  |  | $ | 100,176 |  |  | $ | 121,277 |
Acima |  |  |  |  | 9,600 |  |  | 24,814 |
Mexico |  |  |  |  | 2,066 |  |  | 1,954 |
Franchising |  |  |  |  | 4,790 |  |  | 4,985 |
Total segments |  |  |  |  | 116,632 |  |  | 153,030 |
Corporate(1) |  |  |  |  | (105,589) |  |  | (82,984) |
Total operating profit |  |  |  |  | $ | 11,043 |  |  | $ | 70,046 |
(1) Includes stock compensation expense of $36.6 million recognized for the three months ended March 31, 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 10.
|  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  | 2022 |  | 2021
Depreciation and amortization |  |  |  |  |  |  |
Rent-A-Center Business |  |  |  |  | $ | 6,413 |  |  | $ | 4,577 |
Acima(1) |  |  |  |  | 582 |  |  | 474 |
Mexico |  |  |  |  | 149 |  |  | 120 |
Franchising |  |  |  |  | 37 |  |  | 16 |
Total segments |  |  |  |  | 7,181 |  |  | 5,187 |
Corporate(2) |  |  |  |  | 7,348 |  |  | 8,206 |
Total depreciation and amortization |  |  |  |  | $ | 14,529 |  |  | $ | 13,393 |
(1)Excludes amortization expense of approximately $22.1 million and $14.0 million for the three months ended March 31, 2022 and 2021, recorded to Other charges in the Condensed Consolidated Statement of Operations, related to intangible assets acquired upon closing of the Acima Holdings acquisition. See Note 10 for additional information. (2)Excludes depreciation expense of approximately $4.0 million and $1.3 million for the three months ended March 31, 2022 and 2021, recorded to Other charges in the Condensed Consolidated Statement of Operations, related to software acquired upon closing of the Acima Holdings acquisition. See Note 10 for additional information.
|  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  | 2022 |  | 2021
Capital expenditures |  |  |  |  |  |  |
Rent-A-Center Business |  |  |  |  | $ | 13,408 |  |  | $ | 6,257 |
Acima |  |  |  |  | 46 |  |  | 154 |
Mexico |  |  |  |  | 222 |  |  | 76 |
Franchising |  |  |  |  | 112 |  |  | — |
Total segments |  |  |  |  | 13,788 |  |  | 6,487 |
Corporate |  |  |  |  | 2,615 |  |  | 4,901 |
Total capital expenditures |  |  |  |  | $ | 16,403 |  |  | $ | 11,388 |
(in thousands) | March 31, 2022 |  | December 31, 2021
On rent rental merchandise, net |  |  |
Rent-A-Center Business | $ | 455,828 |  |  | $ | 477,901 |
Acima | 542,437 |  |  | 676,279 |
Mexico | 19,220 |  |  | 18,844 |
Total on rent rental merchandise, net | $ | 1,017,485 |  |  | $ | 1,173,024 |
(in thousands) | March 31, 2022 |  | December 31, 2021
Held for rent rental merchandise, net |  |  |
Rent-A-Center Business | $ | 117,617 |  |  | $ | 123,111 |
Acima | 1,159 |  |  | 626 |
Mexico | 8,887 |  |  | 9,247 |
Total held for rent rental merchandise, net | $ | 127,663 |  |  | $ | 132,984 |
(in thousands) | March 31, 2022 |  | December 31, 2021
Assets by segment |  |  |
Rent-A-Center Business | $ | 1,003,246 |  |  | $ | 1,026,886 |
Acima | 1,287,869 |  |  | 1,476,752 |
Mexico | 43,243 |  |  | 41,669 |
Franchising | 15,904 |  |  | 15,412 |
Total segments | 2,350,262 |  |  | 2,560,719 |
Corporate | 426,859 |  |  | 432,608 |
Total assets | $ | 2,777,121 |  |  | $ | 2,993,327 |

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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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