XML 25 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES:      
Net Earnings (Loss) $ 243,557 $ (61,465) $ 31,472
Adjustments to Reconcile Net Earnings (Loss) to Cash Provided by Operating Activities:      
Depreciation of Lease Merchandise 1,820,010 2,163,443 1,972,358
Other Depreciation and Amortization 33,258 93,814 105,061
Provision for Accounts Receivable and Loan Losses 242,412 288,206 344,630
Stock-Based Compensation 21,349 41,218 26,548
Deferred Income Taxes 15,729 (141,407) 49,967
Impairment of Goodwill and Other Assets 0 470,681 30,344
Non-Cash Lease Expense 974 92,277 114,934
Other Changes, Net (7,561) 9,172 (9,886)
Changes in Operating Assets and Liabilities, Net of Effects of Acquisitions and Dispositions:      
Additions to Lease Merchandise (2,054,467) (2,351,064) (2,484,755)
Book Value of Lease Merchandise Sold or Disposed 130,665 317,763 401,960
Accounts Receivable (229,703) (250,159) (331,636)
Prepaid Expenses and Other Assets (7,879) 7,753 (25,860)
Income Tax Receivable and Payable (29,753) 17,066 10,458
Operating Lease Right-of-Use Assets and Liabilities (1,955) (109,356) (124,384)
Accounts Payable and Accrued Expenses 70,820 39,660 20,183
Accrued Regulatory Expense 0 (175,000) 175,000
Customer Deposits and Advance Payments (1,495) 3,362 10,791
Cash Provided by Operating Activities 245,961 455,964 317,185
INVESTING ACTIVITIES:      
Investments in Loans Receivable (182,204) (112,596) (70,313)
Proceeds from Loans Receivable 132,281 69,358 53,170
Proceeds from Investments 0 0 1,212
Outflows on Purchases of Property, Plant & Equipment (9,555) (64,345) (92,963)
Proceeds from Property, Plant, and Equipment 78 7,482 14,090
Outflows on Acquisitions of Businesses and Customer Agreements, Net of Cash Acquired (22,766) (14,793) (14,285)
Proceeds from Dispositions of Businesses and Customer Agreements, Net of Cash Disposed 0 359 2,813
Cash Used in Investing Activities (82,166) (114,535) (106,276)
FINANCING ACTIVITIES:      
(Repayments) Borrowings on Revolving Facility, Net (50,000) 50,000 (16,000)
Proceeds from Debt 591,750 5,625 0
Repayments on Debt 0 (347,646) (68,531)
Acquisition of Treasury Stock (142,358) 0 (69,255)
Tender Offer Stock Repurchased and Retired (428,551) 0 0
Dividends Paid 0 (13,778) (9,437)
Issuance of Stock Under Stock Option Plans 4,592 12,362 7,749
Shares Withheld for Tax Payments (5,123) (11,734) (13,038)
Debt Issuance Costs (591) (3,233) (40)
Transfer of Cash to The Aaron's Company 0 (54,150) 0
Cash Used in Financing Activities (30,281) (362,554) (168,552)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 0 15 120
Increase (Decrease) in Cash and Cash Equivalents 133,514 (21,110) 42,477
Cash and Cash Equivalents at Beginning of Year 36,645 57,755 15,278
Cash and Cash Equivalents at End of Year 170,159 36,645 57,755
Net Cash Paid (Received) During the Year:      
Interest Expense 1,452 10,447 16,460
Income Taxes $ 53,602 $ 29,000 $ (726)