XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.25.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2025
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 our Chief Operating Decision Makers (“CODMs”). Our CODMs include Upbound’s Chief Executive Officer and Chief Financial Officer. Our CODMs regularly review the operating performance of our operating segments as compared to Company projections and operating performance in prior periods, in addition to other factors, including the Company’s strategic initiatives, as well as industry, macroeconomic, and market trends, in determining the appropriate allocation of resources to support our business operations. 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, such as: furniture, including mattresses; tires; consumer electronics; appliances; tools; handbags; computers; and accessories. On January 31, 2025, we established a new operating segment following the acquisition of Brigit. Please reference Note 2 for additional discussion of the acquisition. In addition we combined our Franchising segment with our Rent-A-Center segment. Financial information disclosed within this report has been recast for the related prior year period to reflect this change. We report four operating segments: Acima, Rent-A-Center, Brigit and Mexico. Segment information as of and for the three and six months ended June 30, 2025 and 2024 is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Revenues |  |  |  |  |  |  |
Acima | $ | 618,967 |  |  | $ | 552,794 |  |  | $ | 1,256,254 |  |  | $ | 1,114,140 |
Rent-A-Center | 467,118 |  |  | 502,848 |  |  | 956,143 |  |  | 1,016,902 |
Brigit | 51,890 |  |  | — |  |  | 83,751 |  |  | — |
Mexico | 19,561 |  |  | 20,868 |  |  | 37,751 |  |  | 41,435 |
Total revenues | $ | 1,157,536 |  |  | $ | 1,076,510 |  |  | $ | 2,333,899 |  |  | $ | 2,172,477 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Gross profit |  |  |  |  |  |  |
Acima | $ | 194,989 |  |  | $ | 179,611 |  |  | $ | 381,440 |  |  | $ | 348,913 |
Rent-A-Center | 316,958 |  |  | 337,337 |  |  | 639,784 |  |  | 682,387 |
Brigit | 45,904 |  |  | — |  |  | 73,759 |  |  | — |
Mexico | 13,974 |  |  | 15,011 |  |  | 26,971 |  |  | 29,727 |
Total gross profit | $ | 571,825 |  |  | $ | 531,959 |  |  | $ | 1,121,954 |  |  | $ | 1,061,027 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Operating labor |  |  |  |  |  |  |
Acima | $ | 24,403 |  |  | $ | 26,618 |  |  | $ | 48,393 |  |  | $ | 52,565 |
Rent-A-Center | 119,127 |  |  | 124,804 |  |  | 239,325 |  |  | 252,021 |
Brigit | 1,065 |  |  | — |  |  | 1,781 |  |  | — |
Mexico | 4,497 |  |  | 4,759 |  |  | 8,760 |  |  | 9,731 |
Total operating labor | $ | 149,092 |  |  | $ | 156,181 |  |  | $ | 298,259 |  |  | $ | 314,317 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Non-labor operating expenses |  |  |  |  |  |  |
Acima(1) | $ | 76,741 |  |  | $ | 71,279 |  |  | $ | 153,643 |  |  | $ | 149,438 |
Rent-A-Center(2) | 119,532 |  |  | 126,768 |  |  | 241,911 |  |  | 256,541 |
Brigit(3) | 28,300 |  |  | — |  |  | 42,747 |  |  | — |
Mexico | 5,571 |  |  | 5,898 |  |  | 10,854 |  |  | 11,768 |
Total non-labor operating expenses | $ | 230,144 |  |  | $ | 203,945 |  |  | $ | 449,155 |  |  | $ | 417,747 |
(1) Includes Lease Charge-Offs ("LCOs") of $57.6 million and $53.2 million for the three months ended June 30, 2025 and 2024, respectively, and $114.3 million and $107.2 million for the six months ended June 30, 2025 and 2024, respectively. (2) Includes LCOs of $20.0 million and $19.3 million for the three months ended June 30, 2025 and 2024, respectively, and $40.4 million and $41.5 million for the six months ended June 30, 2025 and 2024, respectively. (3) Includes net advance losses of $10.4 million and $15.4 million for the three and six months ended June 30, 2025.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Depreciation and amortization |  |  |  |  |  |  |
Acima(1) | $ | 353 |  |  | $ | 382 |  |  | $ | 707 |  |  | $ | 672 |
Rent-A-Center | 5,238 |  |  | 4,816 |  |  | 10,665 |  |  | 9,842 |
Brigit(2) | 18 |  |  | — |  |  | 29 |  |  | — |
Mexico | 484 |  |  | 388 |  |  | 921 |  |  | 734 |
Total operating segments | 6,093 |  |  | 5,586 |  |  | 12,322 |  |  | 11,248 |
Corporate(3) | 6,890 |  |  | 7,032 |  |  | 12,913 |  |  | 14,843 |
Total depreciation and amortization | $ | 12,983 |  |  | $ | 12,618 |  |  | $ | 25,235 |  |  | $ | 26,091 |
(1) Excludes amortization expense of approximately $11.0 million and $21.9 million for the three and six months ended June 30, 2025, respectively, and $10.9 million and $23.6 million for the three and six months ended June 30, 2024, respectively, recorded to other gains and charges in the Condensed Consolidated Statements of Operations, related to intangible assets acquired upon closing of the Acima Holdings acquisition. See Note 9 for additional information. (2) Excludes amortization expense of approximately $3.9 million and $6.5 million for the three and six months ended June 30, 2025, respectively, recorded to other gains and charges in the Condensed Consolidated Statements of Operations, related to intangible assets acquired upon closing of the Brigit acquisition. See Note 9 for additional information. (3) Excludes depreciation expense of approximately $6.3 million and $11.8 million for the three and six months ended June 30, 2025, respectively, and $5.5 million and $14.0 million for the three and six months ended June 30, 2024, respectively, recorded to other gains and charges in the Condensed Consolidated Statements of Operations. See Note 9 for additional information.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Operating profit(1) |  |  |  |  |  |  |
Acima(2) | $ | 82,003 |  |  | $ | 69,991 |  |  | $ | 155,711 |  |  | $ | 121,902 |
Rent-A-Center(3) | 63,001 |  |  | 71,562 |  |  | 129,416 |  |  | 149,700 |
Brigit(4) | 10,472 |  |  | — |  |  | 19,301 |  |  | — |
Mexico(5) | 1,936 |  |  | 1,559 |  |  | 3,159 |  |  | 3,255 |
Total operating segments | 157,412 |  |  | 143,112 |  |  | 307,587 |  |  | 274,857 |
Corporate(6)(7) | (106,678) |  |  | (62,457) |  |  | (194,238) |  |  | (132,440) |
Total operating profit | $ | 50,734 |  |  | $ | 80,655 |  |  | $ | 113,349 |  |  | $ | 142,417 |
(1) The calculation of operating profit by segment includes other segment items related to general and administrative expenses and other gains and charges excluded from the above segment expense tables but documented further in the footnotes below. In addition, please reference Note 9 for additional descriptions of other gains and charges. (2) Includes other segment items of approximately $11.5 million and $23.0 million for the three and six months ended June 30, 2025, respectively, and $11.3 million and $24.3 million for the three and six months ended June 30, 2024, respectively. (3) Includes other segment items of approximately $10.1 million and $18.5 million for the three and six months ended June 30, 2025, respectively, and $9.4 million and $14.3 million for the three and six months ended June 30, 2024, respectively. (4) Includes other segment items of approximately $6.0 million and $9.9 million for the three and six months ended June 30, 2025, respectively. (5) Includes other segment items of $1.5 million and $3.3 million for the three and six months ended June 30, 2025, respectively, and $2.4 million and $4.2 million for the three and six months ended June 30, 2024, respectively. (6) Includes other gains and charges of $50.5 million and $80.0 million for the three and six months ended June 30, 2025, respectively, and $8.2 million and $21.7 million for the three and six months ended June 30, 2024, respectively. (7)Includes stock compensation expense of $6.4 million and $10.5 million for the three and six months ended June 30, 2025, respectively, and $4.9 million recognized for the six months ended June 30, 2024, respectively, related to common stock issued to employees under restricted stock agreements as part of acquisition consideration subject to vesting restrictions as described in Note 11.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Capital expenditures |  |  |  |  |  |  |
Acima | $ | 118 |  |  | $ | 989 |  |  | $ | 430 |  |  | $ | 1,208 |
Rent-A-Center | 5,626 |  |  | 6,263 |  |  | 8,117 |  |  | 10,454 |
Brigit | 259 |  |  | — |  |  | 305 |  |  | — |
Mexico | 1,135 |  |  | 706 |  |  | 1,779 |  |  | 1,498 |
Total operating segments | 7,138 |  |  | 7,958 |  |  | 10,631 |  |  | 13,160 |
Corporate | 11,109 |  |  | 6,469 |  |  | 18,192 |  |  | 13,084 |
Total capital expenditures | $ | 18,247 |  |  | $ | 14,427 |  |  | $ | 28,823 |  |  | $ | 26,244 |
(in thousands) | June 30, 2025 |  | December 31, 2024
On rent rental merchandise, net |  |  |
Acima | $ | 680,847 |  |  | $ | 693,095 |
Rent-A-Center | 390,852 |  |  | 420,382 |
Mexico | 23,917 |  |  | 21,383 |
Total on rent rental merchandise, net | $ | 1,095,616 |  |  | $ | 1,134,860 |
(in thousands) | June 30, 2025 |  | December 31, 2024
Held for rent rental merchandise, net |  |  |
Acima | $ | 267 |  |  | $ | 261 |
Rent-A-Center | 93,318 |  |  | 104,302 |
Mexico | 12,056 |  |  | 9,359 |
Total held for rent rental merchandise, net | $ | 105,641 |  |  | $ | 113,922 |
(in thousands) | June 30, 2025 |  | December 31, 2024
Assets by segment |  |  |
Acima | $ | 1,266,440 |  |  | $ | 1,301,657 |
Rent-A-Center | 921,415 |  |  | 977,787 |
Brigit | 434,618 |  |  | — |
Mexico | 53,337 |  |  | 47,608 |
Total operating segments | 2,675,810 |  |  | 2,327,052 |
Corporate | 419,630 |  |  | 322,610 |
Total assets | $ | 3,095,440 |  |  | $ | 2,649,662 |

X
- Definition Segment Information [Abstract] + References No definition available. + Details
Name: | upbd_SegmentInformationAbstract
Namespace Prefix: | upbd_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration