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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Information [Abstract] |
Segment Information | Segment information as of and for the years ended December 31, 2024, 2023, and 2022 is as follows:
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Revenues |  |  |  |  |
Acima | $ | 2,261,446 |  |  | $ | 1,931,325 |  |  | $ | 2,110,320 |
Rent-A-Center | 1,863,425 |  |  | 1,864,123 |  |  | 1,949,864 |
Mexico | 78,726 |  |  | 74,625 |  |  | 64,880 |
Franchising | 116,967 |  |  | 122,340 |  |  | 120,328 |
Total revenues(1) | $ | 4,320,564 |  |  | $ | 3,992,413 |  |  | $ | 4,245,392 |
(1) See Note C for additional information.
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Gross profit |  |  |  |  |
Acima | $ | 702,620 |  |  | $ | 644,447 |  |  | $ | 632,244 |
Rent-A-Center | 1,292,546 |  |  | 1,297,705 |  |  | 1,372,863 |
Mexico | 56,432 |  |  | 52,869 |  |  | 45,812 |
Franchising | 28,753 |  |  | 27,237 |  |  | 28,613 |
Total gross profit | $ | 2,080,351 |  |  | $ | 2,022,258 |  |  | $ | 2,079,532 |
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Operating profit |  |  |  |  |
Acima(1) | $ | 255,549 |  |  | $ | 235,480 |  |  | $ | 151,301 |
Rent-A-Center(2) | 280,423 |  |  | 273,518 |  |  | 334,525 |
Mexico | 4,806 |  |  | 4,846 |  |  | 6,267 |
Franchising | 16,737 |  |  | 17,087 |  |  | 19,124 |
Total segments | 557,515 |  |  | 530,931 |  |  | 511,217 |
Corporate(3) | (265,884) |  |  | (368,066) |  |  | (362,679) |
Total operating profit(4) | $ | 291,631 |  |  | $ | 162,865 |  |  | $ | 148,538 |
(1) Acima operating expenses for the years ended December 31, 2024, 2023 and 2022 include operating labor expenses of $103.0 million, $102.9 million and $113.9 million, respectively, and non-labor operating expenses of $295.6 million, $246.3 million and $295.7 million, respectively. Acima non-labor operating expenses include LCOs of $211.8 million, $179.6 million and $224.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. (2) Rent-A-Center operating expenses for the years ended December 31, 2024, 2023 and 2022 include operating labor expenses of $487.8 million, $493.4 million and $506.1 million, respectively, and non-labor operating expenses of $486.6 million, $500.1 million and $501.7 million, respectively. Rent-A-Center non-labor operating expenses include LCOs of $84.8 million, $79.9 million and $91.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. (3) Includes stock compensation expense of $4.9 million, $137.5 million and $143.2 million for the years ended December 31, 2024, 2023 and 2022, 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. Also includes stock compensation expense of $5.1 million for the year ended December 31, 2024, related to acceleration of stock compensation expense for certain restricted stock awards included in the letter agreement with the Company's Chief Executive Officer as described in Note N. (4) The accounting policies of our segments are the same as those described for the Company in Note A.
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Depreciation and amortization |  |  |  |  |
Acima(1) | $ | 1,376 |  |  | $ | 1,661 |  |  | $ | 1,928 |
Rent-A-Center | 20,367 |  |  | 18,816 |  |  | 20,526 |
Mexico | 1,566 |  |  | 1,206 |  |  | 711 |
Franchising | 141 |  |  | 146 |  |  | 146 |
Total segments | 23,450 |  |  | 21,829 |  |  | 23,311 |
Corporate(2) | 27,436 |  |  | 29,492 |  |  | 29,768 |
Total depreciation and amortization | $ | 50,886 |  |  | $ | 51,321 |  |  | $ | 53,079 |
(1) Excludes amortization expense of approximately $45.5 million, $57.0 million and $64.9 million for the years ended December 31, 2024, 2023 and 2022, respectively, recorded to Other gains and 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 each of the years ended December 31, 2024, 2023 and 2022, recorded to Other gains and charges in the Consolidated Statements of Operations, related to software acquired upon closing of the Acima Holdings acquisition and depreciation expense of $6.1 million and $9.2 million for the years ended December 31, 2024 and 2023 recorded to Other gains and charges in the Consolidated Statements of Operations, related to accelerated software depreciation. See Note N for additional information.
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Capital expenditures |  |  |  |  |
Acima | $ | 1,560 |  |  | $ | 512 |  |  | $ | 244 |
Rent-A-Center | 24,209 |  |  | 22,923 |  |  | 36,682 |
Mexico | 2,199 |  |  | 2,153 |  |  | 1,590 |
Franchising | — |  |  | 1 |  |  | 332 |
Total segments | 27,968 |  |  | 25,589 |  |  | 38,848 |
Corporate | 28,307 |  |  | 27,813 |  |  | 22,539 |
Total capital expenditures | $ | 56,275 |  |  | $ | 53,402 |  |  | $ | 61,387 |
| December 31,
(in thousands) | 2024 |  | 2023 |  |
On rent rental merchandise, net |  |  |  |  |
Acima | $ | 693,095 |  |  | $ | 606,912 |  |  |
Rent-A-Center | 420,382 |  |  | 478,774 |  |  |
Mexico | 21,383 |  |  | 24,210 |  |  |
Total on rent rental merchandise, net | $ | 1,134,860 |  |  | $ | 1,109,896 |  |  |
| December 31,
(in thousands) | 2024 |  | 2023 |  |
Held for rent rental merchandise, net |  |  |  |  |
Acima | $ | 261 |  |  | $ | 498 |  |  |
Rent-A-Center | 104,302 |  |  | 112,129 |  |  |
Mexico | 9,359 |  |  | 11,540 |  |  |
Total held for rent rental merchandise, net | $ | 113,922 |  |  | $ | 124,167 |  |  |
| December 31,
(in thousands) | 2024 |  | 2023 |  |
Assets by segment |  |  |  |  |
Acima | $ | 1,301,657 |  |  | $ | 1,221,845 |  |  |
Rent-A-Center | 948,661 |  |  | 1,061,107 |  |  |
Mexico | 47,608 |  |  | 57,347 |  |  |
Franchising | 29,126 |  |  | 18,023 |  |  |
Total segments | 2,327,052 |  |  | 2,358,322 |  |  |
Corporate | 322,610 |  |  | 363,108 |  |  |
Total assets | $ | 2,649,662 |  |  | $ | 2,721,430 |  |  |
| December 31,
(in thousands) | 2024 |  | 2023 |  |
Assets by country |  |  |  |  |
United States | $ | 2,602,054 |  |  | $ | 2,664,083 |  |  |
Mexico | 47,608 |  |  | 57,347 |  |  |
Total assets | $ | 2,649,662 |  |  | $ | 2,721,430 |  |  |
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Rentals and fees by inventory category |  |  |  |  |
Furniture and accessories | $ | 1,337,917 |  |  | $ | 1,179,919 |  |  | $ | 1,323,437 |
Consumer electronics | 426,078 |  |  | 486,571 |  |  | 482,959 |
Appliances | 411,720 |  |  | 404,241 |  |  | 439,309 |
Wheels and tires | 447,008 |  |  | 341,174 |  |  | 308,618 |
Jewelry | 302,035 |  |  | 228,081 |  |  | 194,123 |
Personal Electronics | 177,714 |  |  | 181,217 |  |  | 182,380 |
Other products and services | 411,186 |  |  | 440,475 |  |  | 444,627 |
Total rentals and fees | $ | 3,513,658 |  |  | $ | 3,261,678 |  |  | $ | 3,375,453 |
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Revenue by country |  |  |  |  |
United States | $ | 4,241,838 |  |  | $ | 3,917,788 |  |  | $ | 4,180,512 |
Mexico | 78,726 |  |  | 74,625 |  |  | 64,880 |
Total revenues | $ | 4,320,564 |  |  | $ | 3,992,413 |  |  | $ | 4,245,392 |

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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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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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