Basis and Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2017 |
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| Accounting Policies [Abstract] |
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| Schedule Of Company Operated Store Activity |
The following table presents store count by ownership type for the Aaron's Business operations: | | | | | | | Stores as of June 30 (Unaudited) | 2017 | | 2016 | Company-operated Aaron's Branded Stores | 1,093 |
| | 1,221 |
| Franchised Stores | 680 |
| | 722 |
| Systemwide Stores | 1,773 |
| | 1,943 |
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The following table presents active doors for Progressive Leasing: | | | | | | | Active Doors at June 30 (Unaudited) | 2017 | | 2016 | Progressive Leasing Active Doors1 | 19,148 |
| | 13,930 |
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1 An active door is a retail store location at which at least one virtual lease-to-own transaction has been completed during the trailing three month period. |
| Calculation of Dilutive Stock Awards |
The following table shows the calculation of dilutive share-based awards: | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | (Shares In Thousands) | 2017 | | 2016 | | 2017 | | 2016 | Weighted Average Shares Outstanding | 70,686 |
| | 72,761 |
| | 71,001 |
| | 72,697 |
| Dilutive Effect of Share-Based Awards | 1,011 |
| | 518 |
| | 1,039 |
| | 551 |
| Weighted Average Shares Outstanding Assuming Dilution | 71,697 |
| | 73,279 |
| | 72,040 |
| | 73,248 |
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| Accounts Receivable Net of Allowances |
Accounts receivable, net of allowances, consist of the following: | | | | | | | | | (In Thousands) | June 30, 2017 |
| December 31, 2016 | Customers | $ | 36,782 |
| | $ | 36,227 |
| Corporate | 21,397 |
| | 26,375 |
| Franchisee | 26,643 |
| | 33,175 |
| Accounts Receivable | $ | 84,822 |
| | $ | 95,777 |
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The following is a summary of the Company’s loans receivable, net: | | | | | | | | | | (In Thousands) | | June 30, 2017 | | December 31, 2016 | Credit Card Loans | | $ | 77,280 |
| | $ | 64,794 |
| Acquired Loans | | 23,029 |
| | 33,840 |
| Loans Receivable, Gross | | 100,309 |
| | 98,634 |
| | | | | | Allowance for Loan Losses | | (9,013 | ) | | (6,624 | ) | Unamortized Fees | | (7,559 | ) | | (7,206 | ) | Loans Receivable, Net | | $ | 83,737 |
| | $ | 84,804 |
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| Components of the Accounts Receivable Provision |
The following table shows the amounts recognized for bad debt expense and provision for returns and uncollected payments: | | | | | | | | | | Six Months Ended June 30, | (In Thousands) | 2017 | | 2016 | Bad Debt Expense | $ | 68,044 |
| | $ | 56,210 |
| Provision for Returns and Uncollected Renewal Payments | 14,062 |
| | 18,758 |
| Accounts Receivable Provision | $ | 82,106 |
| | $ | 74,968 |
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| Schedule of Lease Merchandise |
The following is a summary of lease merchandise, net of accumulated depreciation and allowances: | | | | | | | | | (In Thousands) | June 30, 2017 | | December 31, 2016 | Merchandise on Lease | $ | 790,505 |
| | $ | 786,936 |
| Merchandise Not on Lease | 203,731 |
| | 212,445 |
| Lease Merchandise, net of Accumulated Depreciation and Allowances | $ | 994,236 |
| | $ | 999,381 |
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| Allowance for Lease Merchandise |
The following table shows the components of the allowance for lease merchandise write-offs: | | | | | | | | | | Six Months Ended June 30, | (In Thousands) | 2017 | | 2016 | Beginning Balance | $ | 33,399 |
| | $ | 33,405 |
| Merchandise Written off, net of Recoveries | (61,034 | ) | | (63,312 | ) | Provision for Write-offs | 63,938 |
| | 62,031 |
| Ending Balance | $ | 36,303 |
| | $ | 32,124 |
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| Loan Portfolio Credit Quality Indicators |
Below is a summary of the credit quality of the Company’s loan portfolio as of June 30, 2017 and December 31, 2016 by Fair Issac and Company (FICO) score as determined at the time of loan origination: | | | | | | | FICO Score Category | June 30, 2017 | | December 31, 2016 | 600 or Less | 1.7 | % | | 1.8 | % | Between 600 and 700 | 77.2 | % | | 78.1 | % | 700 or Greater | 21.1 | % | | 20.1 | % |
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| Schedule of Prepaid Expenses and Other Assets |
Prepaid expenses and other assets consist of the following: | | | | | | | | | (In Thousands) | June 30, 2017 | | December 31, 2016 | Prepaid Expenses | $ | 85,844 |
| | $ | 75,485 |
| Assets Held for Sale | 12,054 |
| | 8,866 |
| Deferred Tax Asset | 5,912 |
| | 5,912 |
| Income Tax Receivable | 12,635 |
| | 11,884 |
| Other Assets | 22,496 |
| | 18,881 |
| Prepaid Expenses and Other Assets | $ | 138,941 |
| | $ | 121,028 |
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| Schedule of Accounts Payable and Accrued Expenses |
Accounts payable and accrued expenses consist of the following: | | | | | | | | | (In Thousands) | June 30, 2017 | | December 31, 2016 | Accounts Payable | $ | 54,663 |
| | $ | 71,941 |
| Accrued Insurance Costs | 44,120 |
| | 47,649 |
| Accrued Salaries and Benefits | 40,628 |
| | 41,612 |
| Accrued Real Estate and Sales Taxes | 29,521 |
| | 32,986 |
| Deferred Rent | 31,193 |
| | 31,859 |
| Other Accrued Expenses and Liabilities | 81,795 |
| | 71,719 |
| Accounts Payable and Accrued Expenses | $ | 281,920 |
| | $ | 297,766 |
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| Changes in Accumulated Other Comprehensive Loss (Gain) by Component |
Changes in accumulated other comprehensive (loss) income for the six months ended June 30, 2017 are as follows: | | | | | (In Thousands) | Foreign Currency | Balance at January 1, 2017 | $ | (531 | ) | Other Comprehensive Income | 649 |
| Balance at June 30, 2017 | $ | 118 |
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