Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)


(In Thousands, Except Per Share Data)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Full Year
Year Ended December 31, 2020
Revenues	$	668,442	$	599,164	$	611,337	$	605,652	$	2,484,595
Net Earnings from Continuing Operations	57,682		58,997		74,643		42,305		233,627
(Loss) Earnings from Discontinued Operations, Net of Tax	(337,687)		9,380		34,702		(1,487)		(295,092)
Net (Loss) Earnings	(280,005)		68,377		109,345		40,818		(61,465)
Basic Earnings (Loss) Per Share:
Continuing Operations	0.86		0.88		1.11		0.62		3.47
Discontinued Operations	(5.05)		0.14		0.51		(0.02)		(4.39)
Total Basic (Loss) Earnings per Share	(4.19)		1.02		1.62		0.60		(0.91)
Diluted Earnings (Loss) Per Share:
Continuing Operations	0.85		0.87		1.10		0.62		3.43
Discontinued Operations	(4.98)		0.14		0.51		(0.02)		(4.34)
Total Diluted (Loss) Earnings per Share	(4.13)		1.01		1.61		0.60		(0.90)

Year Ended December 31, 2019
Revenues	$	532,047	$	524,944	$	537,536	$	568,652	$	2,163,179
Net Earnings (Loss) from Continuing Operations	38,788		39,112		35,611		(138,126)		(24,615)
Earnings from Discontinued Operations, Net of Tax	17,290		3,538		4,190		31,069		56,087
Net Earnings (Loss)	56,078		42,650		39,801		(107,057)		31,472
Basic Earnings (Loss) Per Share:
Continuing Operations	0.58		0.58		0.53		(2.06)		(0.37)
Discontinued Operations	0.26		0.05		0.06		0.46		0.83
Total Basic Earnings (Loss) per Share	0.84		0.63		0.59		(1.60)		0.47
Diluted Earnings (Loss) Per Share:
Continuing Operations	0.56		0.57		0.52		(2.06)		(0.37)
Discontinued Operations	0.25		0.05		0.06		0.46		0.83
Total Diluted Earnings (Loss) per Share	0.81		0.62		0.58		(1.60)		0.47

Note: The sum of quarterly earnings per share may differ from the full year amounts due to rounding, or in the case of diluted earnings per share, because certain securities that are antidilutive in certain quarters may not be antidilutive on a full-year basis.

The comparability of the Company’s quarterly pre-tax financial results during 2020 and 2019 was impacted by certain events, as described below:

•The fourth quarter of 2019 included $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 more detail in Note 10.

•The third quarter and fourth quarters of 2020 included $2.4 million and $15.6 million, respectively, in stock-based compensation associated with equity award modification charges and retirement charges related to the spin-off of The Aaron's Company, Inc.

•The first quarter of 2020 included a $446.9 million goodwill impairment loss related to the Aaron's Business segment, which is classified within discontinued operations.

•The second, third, and fourth quarters of 2020 included $2.5 million, $5.8 million, and $28.2 million, respectively, of third-party transaction costs related to the spin-off of The Aaron's Company, Inc. which is classified within discontinued operations.

•The fourth quarter of 2020 includes a $4.1 million loss on debt extinguishment, which is classified within discontinued operations.