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Segments
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segments SEGMENTS
Description of Products and Services of Reportable Segments
As of December 31, 2020, the Company has two operating and reportable segments: Progressive Leasing and Vive. As discussed in Note 1 and Note 2 above, the Company spun-off its Aaron's Business segment effective November 30, 2020 through the tax-free distribution of all outstanding common stock of The Aaron's Company, Inc. to the PROG Holdings shareholders. All direct revenues and expenses of the Aaron's Business operations have been classified within discontinued operations, net of income tax, within our consolidated statements of earnings for all periods through the November 30, 2020 separation and distribution date.
Progressive Leasing partners with traditional and e-commerce retailers, primarily in the furniture and appliance, jewelry, mobile phones and accessories, mattress, and automobile electronics and accessories industries to offer a lease-purchase solution for customers who may not have access to traditional credit-based financing options. It does so by offering leases with monthly, semi-monthly, bi-weekly and weekly payment models.
Vive offers a variety of second-look financing programs originated through third-party federally insured banks to customers of participating merchants and, together with Progressive Leasing, allows the Company to provide retail partners with below-prime customers one source for financing and leasing transactions.
Factors Used by Management to Identify the Reportable Segments
The Company’s reportable segments are based on the operations of the Company that the chief operating decision maker regularly reviews to analyze performance and allocate resources among business units of the Company.
Disaggregated Revenue
The following table presents revenue by source and by segment for the year ended December 31, 2020:
Year Ended December 31, 2020
(In Thousands)Progressive LeasingViveTotal
Lease Revenues and Fees1
$2,443,405 $— $2,443,405 
Interest and Fees on Loans Receivable2
— 41,190 41,190 
Total $2,443,405 $41,190 $2,484,595 
1 Revenue within the scope of ASC 842, Leases.
2 Revenue within the scope of ASC 310, Credit Card Interest & Fees.

The following table presents revenue by source and by segment for the year ended December 31, 2019:
Year Ended December 31, 2019
(In Thousands)Progressive LeasingViveTotal
Lease Revenues and Fees1
$2,128,133 $— $2,128,133 
Interest and Fees on Loans Receivable2
— 35,046 35,046 
Total $2,128,133 $35,046 $2,163,179 
1 Revenue within the scope of ASC 842, Leases.
2 Revenue within the scope of ASC 310, Credit Card Interest & Fees.

The following table presents revenue by source and by segment for the year ended December 31, 2018:
Year Ended December 31, 2018
(In Thousands)Progressive LeasingViveTotal
Lease Revenues and Fees1
$1,998,981 $— $1,998,981 
Interest and Fees on Loans Receivable2
— 37,318 37,318 
Total $1,998,981 $37,318 $2,036,299 
1 Revenue within the scope of ASC 840, Leases.
2 Revenue within the scope of ASC 310, Credit Card Interest & Fees.
Measurement of Segment Profit or Loss and Segment Assets
The Company evaluates performance and allocates resources based on revenues and pre-tax profit or loss from operations.
The Company incurred various corporate overhead expenses for certain executive management, finance, treasury, tax, audit, legal, risk management, and other overhead functions during the years ended December 31, 2020, 2019, and 2018. The Company has allocated a predetermined portion of these corporate overhead costs to the Progressive and Vive segments, which are reflected as expenses of these segments in calculating the earnings (loss) before income taxes for all periods presented. The remaining unallocated corporate expenses represent corporate overhead costs that were previously assigned to the Aaron's Business segment and are in addition to the overhead costs allocated to the Progressive Leasing and Vive segments for these periods. These unallocated corporate overhead expenses have been classified as continuing operations for all previous periods through November 30, 2020 since the costs were not directly attributable to the discontinued operations of the Aaron's Business. These costs are reflected below as unallocated corporate expenses. The allocation of corporate overhead costs to the Progressive Leasing and Vive segments is consistent with how the chief operating decision maker analyzed performance and allocated resources among the segments of the Company.
Year Ended December 31,
(In Thousands)202020192018
Earnings (Loss) From Continuing Operations Before Income Tax Expense:
Progressive Leasing$320,636 $64,283 $191,303 
Vive(11,180)(6,127)(4,398)
Unallocated Corporate Expenses(37,880)(30,543)(30,106)
Total Earnings From Continuing Operations Before Income Tax Expense$271,576 $27,613 $156,799 
December 31,
(In Thousands)20202019
Assets:
Progressive Leasing$1,209,650 $1,331,153 
Vive107,754 85,825 
Total Assets$1,317,404 $1,416,978 


Year Ended December 31,
(In Thousands)202020192018
Depreciation and Amortization1:
Progressive Leasing$30,547 $29,967 $27,974 
Vive1,273 1,385 1,432 
Total Depreciation and Amortization$31,820 $31,352 $29,406 
Depreciation of Lease Merchandise:
Progressive Leasing$1,690,922 $1,445,027 $1,219,034 
Vive— — — 
Total Depreciation of Lease Merchandise$1,690,922 $1,445,027 $1,219,034 
Interest Expense2:
Progressive Leasing$187 $— $— 
Vive— — — 
Total Interest Expense$187 $— $— 
Capital Expenditures:
Progressive Leasing$6,403 $12,608 $10,711 
Vive405 424 1,035 
Total Capital Expenditures$6,808 $13,032 $11,746 
1 Excludes depreciation of lease merchandise, which is not included in the chief operating decision maker's measure of depreciation and amortization.
2 The Company incurred a pre-tax loss on extinguishment of $4.1 million in connection with the repayment of the outstanding borrowings, which is classified within discontinued operations in the consolidated statements of earnings. As repayment of the prior revolving credit and term loan borrowings and senior unsecured notes was required under the terms of the loan agreements in the event of a fundamental change to the Company, we have classified the loss on extinguishment and the related historical interest expense of $9.9 million, $17.0 million, and $16.4 million during the years ended December 31, 2020, 2019, and 2018, respectively within (loss) earnings from discontinued operations, net in the consolidated statements of earnings.

In 2020, the results of the Company's operating segments were impacted by the following items:
•Progressive Leasing earnings before taxes were impacted by $2.4 million related primarily to stock-based compensation expense associated with the modification of outstanding equity awards and executive retirement charges related to the separation and distribution transaction for employees directly associated with Progressive Leasing.
•Unallocated corporate expenses before taxes were impacted by $15.6 million related primarily to stock-based compensation expense associated with the modification of outstanding equity awards and executive retirement charges related to the separation and distribution transaction.
In 2019, the results of the Company’s operating segments were impacted by the following items:
•Progressive Leasing earnings before taxes were impacted by $179.3 million in regulatory charges and legal expenses, including a $175.0 million settlement charge, incurred related to Progressive Leasing's settlement of the FTC matter discussed in Note 10 to these consolidated financial statements.