v3.8.0.1

Segments | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Segments | SEGMENTS As of December 31, 2016, the Company had five reportable segments: Sales and Lease Ownership, Franchise, Woodhaven, Progressive Leasing and DAMI. As of September 30, 2017, the Company has three operating and reportable segments: Progressive Leasing, Aaron's Business and DAMI. During the nine months ended September 30, 2017, the Company changed its composition of reportable segments by combining Sales and Lease Ownership, Franchise and Woodhaven into one reportable segment, the Aaron's Business, to align the reportable segments with the current organizational structure and the operating results that the chief operating decision maker regularly reviews to analyze performance and allocate resources. The Company has retroactively adjusted, for all periods presented, its segment disclosures to align with the current composition of reportable segments. Progressive Leasing is a leading virtual lease-to-own company that provides lease-purchase solutions on a variety of products, including furniture and bedding, consumer electronics, appliances and jewelry. DAMI offers a variety of second-look financing programs originated through two 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. The Aaron's Business offers furniture, consumer electronics, home appliances and accessories to consumers primarily on a month-to-month, lease-to-own basis with no credit needed through the Company's Aaron's stores in the United States and Canada. This operating segment also awards franchises and supports franchisees of its Aaron's stores. In addition, the Aaron's Business segment also includes the operations of Woodhaven Furniture Industries, which manufactures and supplies the majority of the upholstered furniture and bedding leased and sold in Company-operated and franchised stores. The HomeSmart operations, prior to its disposition in May 2016, is reflected within the Aaron's Business segment and offered furniture, electronics, appliances and computers to customers primarily on a weekly payment basis with no credit needed. The Company determines earnings (loss) before income taxes for all reportable segments in accordance with U.S. GAAP. Interest expense is allocated to the Progressive Leasing and DAMI segments based on a percentage of the outstanding balances of its intercompany borrowings and of the debt incurred when it was acquired.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In Thousands) | 2017 |  | 2016 |  | 2017 |  | 2016
Revenues: |  |  |  |  |  |  |
Progressive Leasing | $ | 398,282 |  |  | $ | 308,397 |  |  | $ | 1,137,896 |  |  | $ | 913,636 |
Aaron's Business | 431,665 |  |  | 454,105 |  |  | 1,335,516 |  |  | 1,482,581 |
DAMI | 8,936 |  |  | 6,480 |  |  | 25,669 |  |  | 16,545 |
Total Revenues from External Customers | $ | 838,883 |  |  | $ | 768,982 |  |  | $ | 2,499,081 |  |  | $ | 2,412,762 |
Earnings (Loss) Before Income Taxes: |  |  |  |  |  |  |
Progressive Leasing | $ | 27,734 |  |  | $ | 24,655 |  |  | $ | 101,732 |  |  | $ | 75,652 |
Aaron's Business 1 | 15,484 |  |  | 23,151 |  |  | 85,564 |  |  | 118,168 |
DAMI | (3,997 | ) |  | (2,524 | ) |  | (8,457 | ) |  | (7,686 | )
Total Earnings Before Income Taxes | $ | 39,221 |  |  | $ | 45,282 |  |  | $ | 178,839 |  |  | $ | 186,134 |
1 Earnings before income taxes for the Aaron's Business during the nine months ended September 30, 2017 includes restructuring charges of $14.4 million related to store contractual lease obligations, severance costs and impairment charges in connection with the Company's strategic decision to close Company-operated stores, of which $0.8 million was incurred during the three months ended September 30, 2017. Earnings before income taxes for the Aaron's Business during the nine months ended September 30, 2016 were impacted by: (1) a gain of $11.1 million on the January 29, 2016 sale of the Company's corporate office building; (2) a loss of $5.6 million related to exiting the HomeSmart business and the write-down of the HomeSmart disposal group to its fair value less cost to sell upon its classification as held for sale; and (3) charges of $3.7 million primarily related to the retirement of the Company's former Chief Financial Officer. Corporate-related assets that benefit multiple segments are reported as other assets in the table below.
(In Thousands) | September 30, 2017 |  | December 31, 2016
Assets: |  |  |
Progressive Leasing | $ | 969,220 |  |  | $ | 919,487 |
Aaron's Business 1 | 1,248,847 |  |  | 1,199,213 |
DAMI | 104,267 |  |  | 102,958 |
Other | 272,670 |  |  | 394,078 |
Total Assets | $ | 2,595,004 |  |  | $ | 2,615,736 |
1 Includes inventory (principally raw materials and work-in-process) that has been classified within lease merchandise in the condensed consolidated balance sheets of $18.7 million and $14.3 million as of September 30, 2017 and December 31, 2016, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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