XML 53 R37.htm IDEA: XBRL DOCUMENT v3.22.0.1

Segments (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Information on Segments and Reconciliation to Earnings Before Income Taxes from Continuing Operations

The following table presents revenue by source and by segment for the year ended December 31, 2021:

			Year Ended December 31, 2021
(In Thousands)			Progressive Leasing			Vive			Other			Total
Lease Revenues and Fees1			$	2,619,005		$	—		$	—		$	2,619,005
Interest and Fees on Loans Receivable2			—			58,462			453			58,915
Total			$	2,619,005		$	58,462		$	453		$	2,677,920

1 Revenue within the scope of ASC 842, Leases.

2 Revenue within the scope of ASC 310, Receivables.

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 Leasing			Vive			Other			Total
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, Receivables.

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 Leasing			Vive			Other			Total
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, Receivables.

			Year Ended December 31,
(In Thousands)			2021						2020						2019
Earnings From Continuing Operations Before Income Tax Expense:
Progressive Leasing			$	319,125					$	320,636					$	64,283
Vive			20,225						(11,180)						(6,127)
Other			(11,146)						—						—
Unallocated Corporate Expenses			—						(37,880)						(30,543)
Total Earnings From Continuing Operations Before Income Tax Expense			$	328,204					$	271,576					$	27,613

			December 31,
(In Thousands)			2021						2020
Assets:
Progressive Leasing			$	1,445,612					$	1,209,650
Vive			149,628						107,754
Other			26,521						—
Total Assets			$	1,621,761					$	1,317,404

			Year Ended December 31,
(In Thousands)			2021						2020						2019
Depreciation and Amortization1:
Progressive Leasing			$	31,762					$	30,547					$	29,967
Vive			849						1,273						1,385
Other			647						—						—
Total Depreciation and Amortization			$	33,258					$	31,820					$	31,352
Depreciation of Lease Merchandise:
Progressive Leasing			$	1,820,010					$	1,690,922					$	1,445,027
Vive			—						—						—
Other			—						—						—
Total Depreciation of Lease Merchandise			$	1,820,010					$	1,690,922					$	1,445,027
Interest Expense2:
Progressive Leasing			$	4,850					$	187					$	—
Vive			473						—						—
Other			—						—						—
Total Interest Expense			$	5,323					$	187					$	—
Capital Expenditures:
Progressive Leasing			$	8,101					$	6,403					$	12,608
Vive			819						405						424
Other			635						—						—
Total Capital Expenditures			$	9,555					$	6,808					$	13,032

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 for the year ended December 31, 2020. As repayment of the prior revolving credit and term loan borrowings and prior 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 and $17.0 million during the years ended December 31, 2020 and 2019, respectively, within (loss) earnings from discontinued operations, net of income tax in the consolidated statements of earnings.

X

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration