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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Information [Abstract] |
Segment Information | Segment information as of and for the years ended December 31, 2023, 2022, and 2021 is as follows:
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Revenues |  |  |  |  |
Rent-A-Center | $ | 1,864,123 |  |  | $ | 1,949,864 |  |  | $ | 2,037,849 |
Acima | 1,931,325 |  |  | 2,110,320 |  |  | 2,328,089 |
Mexico | 74,625 |  |  | 64,880 |  |  | 61,403 |
Franchising | 122,340 |  |  | 120,328 |  |  | 156,110 |
Total revenues | $ | 3,992,413 |  |  | $ | 4,245,392 |  |  | $ | 4,583,451 |
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Gross profit |  |  |  |  |
Rent-A-Center | $ | 1,297,705 |  |  | $ | 1,372,863 |  |  | $ | 1,433,536 |
Acima | 644,447 |  |  | 632,244 |  |  | 728,852 |
Mexico | 52,869 |  |  | 45,812 |  |  | 43,117 |
Franchising | 27,237 |  |  | 28,613 |  |  | 29,507 |
Total gross profit | $ | 2,022,258 |  |  | $ | 2,079,532 |  |  | $ | 2,235,012 |
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Operating profit |  |  |  |  |
Rent-A-Center | $ | 273,518 |  |  | $ | 334,525 |  |  | 448,905 |
Acima | 235,480 |  |  | 151,301 |  |  | 176,496 |
Mexico | 4,846 |  |  | 6,267 |  |  | 7,858 |
Franchising | 17,087 |  |  | 19,124 |  |  | 20,321 |
Total segments | 530,931 |  |  | 511,217 |  |  | 653,580 |
Corporate(1) | (368,066) |  |  | (362,679) |  |  | (373,041) |
Total operating profit | $ | 162,865 |  |  | $ | 148,538 |  |  | $ | 280,539 |
(1) Includes stock compensation expense of $137.5 million, $143.2 million and $127.1 million for the years ended December 31, 2023, 2022 and 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) | 2023 |  | 2022 |  | 2021
Depreciation, amortization and write-down of intangibles |  |  |  |  |
Rent-A-Center | $ | 18,816 |  |  | $ | 20,526 |  |  | $ | 18,588 |
Acima(1) | 1,661 |  |  | 1,928 |  |  | 2,122 |
Mexico | 1,206 |  |  | 711 |  |  | 511 |
Franchising | 146 |  |  | 146 |  |  | 93 |
Total segments | 21,829 |  |  | 23,311 |  |  | 21,314 |
Corporate(2) | 29,492 |  |  | 29,768 |  |  | 33,516 |
Total depreciation, amortization and write-down of intangibles | $ | 51,321 |  |  | $ | 53,079 |  |  | $ | 54,830 |
(1) Excludes amortization expense of approximately $57.0 million, $64.9 million and $101.7 million for the years ended December 31, 2023, 2022 and 2021, respectively, recorded to Other charges in the Consolidated Statements 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 $15.9 million for both the years ended December 31, 2023 and 2022 and $13.2 million for the year ended December 31, 2021, recorded to Other charges in the Consolidated Statements of Operations, related to software acquired upon closing of the Acima Holdings acquisition and accelerated software depreciation. See Note N for additional information.
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Capital expenditures |  |  |  |  |
Rent-A-Center | $ | 22,923 |  |  | $ | 36,682 |  |  | $ | 23,139 |
Acima | 512 |  |  | 244 |  |  | 1,045 |
Mexico | 2,153 |  |  | 1,590 |  |  | 1,032 |
Franchising | 1 |  |  | 332 |  |  | — |
Total segments | 25,589 |  |  | 38,848 |  |  | 25,216 |
Corporate | 27,813 |  |  | 22,539 |  |  | 37,234 |
Total capital expenditures | $ | 53,402 |  |  | $ | 61,387 |  |  | $ | 62,450 |
| December 31,
(in thousands) | 2023 |  | 2022 |  |
On rent rental merchandise, net |  |  |  |  |
Rent-A-Center | $ | 478,774 |  |  | $ | 465,095 |  |  |
Acima | 606,912 |  |  | 503,795 |  |  |
Mexico | 24,210 |  |  | 20,979 |  |  |
Total on rent rental merchandise, net | $ | 1,109,896 |  |  | $ | 989,869 |  |  |
| December 31,
(in thousands) | 2023 |  | 2022 |  |
Held for rent rental merchandise, net |  |  |  |  |
Rent-A-Center | $ | 112,129 |  |  | $ | 124,117 |  |  |
Acima | 498 |  |  | 373 |  |  |
Mexico | 11,540 |  |  | 10,469 |  |  |
Total held for rent rental merchandise, net | $ | 124,167 |  |  | $ | 134,959 |  |  |
| December 31,
(in thousands) | 2023 |  | 2022 |  |
Assets by segment |  |  |  |  |
Rent-A-Center | $ | 1,061,107 |  |  | $ | 1,067,875 |  |  |
Acima | 1,221,845 |  |  | 1,198,879 |  |  |
Mexico | 57,347 |  |  | 51,225 |  |  |
Franchising | 18,023 |  |  | 18,194 |  |  |
Total segments | 2,358,322 |  |  | 2,336,173 |  |  |
Corporate | 363,108 |  |  | 427,446 |  |  |
Total assets | $ | 2,721,430 |  |  | $ | 2,763,619 |  |  |
| December 31,
(in thousands) | 2023 |  | 2022 |  |
Assets by country |  |  |  |  |
United States | $ | 2,664,083 |  |  | $ | 2,712,394 |  |  |
Mexico | 57,347 |  |  | 51,225 |  |  |
Total assets | $ | 2,721,430 |  |  | $ | 2,763,619 |  |  |
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Rentals and fees by inventory category |  |  |  |  |
Furniture and accessories | $ | 1,179,919 |  |  | $ | 1,323,437 |  |  | $ | 1,542,003 |
Consumer electronics | 486,571 |  |  | 482,959 |  |  | 435,004 |
Appliances | 404,241 |  |  | 439,309 |  |  | 426,316 |
Wheels and tires | 341,174 |  |  | 308,618 |  |  | 280,132 |
Jewelry | 228,081 |  |  | 194,123 |  |  | 146,477 |
Computers | 116,971 |  |  | 129,577 |  |  | 155,313 |
Smartphones | 64,246 |  |  | 52,803 |  |  | 61,058 |
Other products and services | 440,475 |  |  | 444,627 |  |  | 476,150 |
Total rentals and fees | $ | 3,261,678 |  |  | $ | 3,375,453 |  |  | $ | 3,522,453 |
| Year Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Revenue by country |  |  |  |  |
United States | $ | 3,917,788 |  |  | $ | 4,180,512 |  |  | $ | 4,522,048 |
Mexico | 74,625 |  |  | 64,880 |  |  | 61,403 |
Total revenues | $ | 3,992,413 |  |  | $ | 4,245,392 |  |  | $ | 4,583,451 |

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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