v3.8.0.1

Segments (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

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

The following is a summary of total assets by segment and shared corporate-related assets.

(In Thousands)	March 31, 2018				December 31, 2017
Assets:
Progressive Leasing	$	1,016,174			$	1,022,413
Aaron's Business1	1,253,218				1,261,234
DAMI	99,140				108,306
Other2	350,477				300,311
Total Assets	$	2,719,009			$	2,692,264

¹ Includes inventory (principally raw materials and work-in-process) that has been classified within lease merchandise in the condensed consolidated balance sheets of $13.9 million and $16.3 million as of March 31, 2018 and December 31, 2017, respectively.

² Corporate-related assets that benefit multiple segments are reported as other assets.

Interest expense is allocated to the Progressive Leasing and DAMI segments based on a percentage of the outstanding balances of their intercompany borrowings and of the debt incurred when they were acquired. The following is a summary of earnings (loss) before income taxes by segment:

	Three Months Ended   March 31,
(In Thousands)	2018				2017
Earnings (Loss) Before Income Taxes:
Progressive Leasing	$	34,979			$	35,758
Aaron's Business1	33,079				48,630
DAMI	(1,306		)		(1,765		)
Total Earnings Before Income Taxes	$	66,752			$	82,623

¹ Earnings before income taxes for the Aaron's Business during the three months ended March 31, 2018 includes net restructuring charges of $0.9 million related to store contractual lease obligations and severance costs, partially offset by gains recognized from the sale of the associated properties of stores closed under the restructuring program.

Earnings before income taxes for the Aaron's Business during the three months ended March 31, 2017 includes restructuring charges of $0.2 million related to severance costs and impairment charges in connection with the Company's strategic decision to close Company-operated stores.

The following table presents revenue by source and by segment for the three months ended March 31, 2018:

	Three Months Ended March 31, 2018
(In Thousands)	Progressive Leasing			Aaron's Business			DAMI			Total
Lease Revenues and Fees1	$	486,517		$	383,550		$	—		$	870,067
Retail Sales2	—			8,516			—			8,516
Non-Retail Sales2	—			53,230			—			53,230
Franchise Royalties and Fees2	—			12,862			—			12,862
Interest and Fees on Loans Receivable3	—			—			9,542			9,542
Other	—			592			—			592
Total	$	486,517		$	458,750		$	9,542		$	954,809

¹ Substantially all lease revenues and fees are within the scope of ASC 840, Leases. The Company had $4.0 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.

² Revenue within the scope of ASC 606, Revenue from Contracts with Customers. Of the franchise royalties and fees, $10.2 million is related to franchise royalty income that is recognized as the franchisee collects cash revenue from its customers. The remaining revenue is primarily related to fees collected for pre-opening services, which are being deferred and recognized as revenue over the agreement term, and advertising fees charged to franchisees. Retail and non-retail sales are recognized at the point of sale.

³ Revenue within the scope of ASC 310, Credit Card Interest & Fees.

The following table presents revenue by source and by segment for the three months ended March 31, 2017:

	Three Months Ended March 31, 2017
(In Thousands)	Progressive Leasing			Aaron's Business			DAMI			Total
Lease Revenues and Fees1	$	366,115		$	377,507		$	—		$	743,622
Retail Sales2	—			8,778			—			8,778
Non-Retail Sales2	—			69,327			—			69,327
Franchise Royalties and Fees2	—			14,201			—			14,201
Interest and Fees on Loans Receivable3	—			—			8,201			8,201
Other	—			425			—			425
Total	$	366,115		$	470,238		$	8,201		$	844,554

¹ Substantially all revenue is within the scope of ASC 840, Leases. The Company had $0.8 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.

² Revenue within the scope of ASC 606, Revenue from Contracts with Customers. Of the franchise royalties and fees, $13.2 million relates to franchise royalty income that is recognized as the franchisee collects cash revenue from its customers. Retail and non-retail sales are recognized at the point of sale.

³ Revenue within the scope of ASC 310, Credit Card Interest & Fees.

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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599

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- References

No definition available.

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