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v3.22.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2022
Segment Information [Abstract] |
Segment Information | 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 Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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