v3.10.0.1

Segments (Tables)

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

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

The following is a summary of earnings (loss) before income taxes by segment:

	Three Months Ended   June 30,							Six Months Ended   June 30,
(In Thousands)	2018				2017			2018				2017
Earnings (Loss) Before Income Taxes:
Progressive Leasing	$	44,575			$	38,240		$	79,554			$	73,998
Aaron's Business1	7,697				21,450			40,776				70,080
DAMI	(2,292		)		(2,695		)	(3,598		)		(4,460		)
Total Earnings Before Income Taxes	$	49,980			$	56,995		$	116,732			$	139,618

¹ Earnings before income taxes for the Aaron's Business during the three months ended June 30, 2018 includes a full impairment of the PerfectHome investment of $20.1 million. This charge is net of restructuring reversals of $0.9 million related to reversals of previously recorded restructuring charges partially offset by charges related to Aaron's contractual lease obligations for closed stores.

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

(In Thousands)	June 30, 2018				December 31, 2017
Assets:
Progressive Leasing	$	1,019,520			$	1,022,413
Aaron's Business1	1,253,427				1,261,234
DAMI	97,818				108,306
Other2	248,185				300,311
Total Assets	$	2,618,950			$	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 $15.9 million and $16.3 million as of June 30, 2018 and December 31, 2017, respectively.

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

The following table presents revenue by source and by segment for the three months ended June 30, 2018:

	Three Months Ended June 30, 2018
(In Thousands)	Progressive Leasing			Aaron's Business			DAMI			Total
Lease Revenues and Fees1	$	483,666		$	362,272		$	—		$	845,938
Retail Sales2	—			6,592			—			6,592
Non-Retail Sales2	—			53,661			—			53,661
Franchise Royalties and Fees2	—			12,125			—			12,125
Interest and Fees on Loans Receivable3	—			—			9,208			9,208
Other	—			335			—			335
Total	$	483,666		$	434,985		$	9,208		$	927,859

¹ Substantially all lease revenues and fees are within the scope of ASC 840, Leases. The Company had $4.4 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, $9.1 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 June 30, 2017:

	Three Months Ended June 30, 2017
(In Thousands)	Progressive Leasing			Aaron's Business			DAMI			Total
Lease Revenues and Fees1	$	373,499		$	344,590		$	—		$	718,089
Retail Sales2	—			6,106			—			6,106
Non-Retail Sales2	—			69,602			—			69,602
Franchise Royalties and Fees2	—			12,824			—			12,824
Interest and Fees on Loans Receivable3	—			—			8,532			8,532
Other	—			491			—			491
Total	$	373,499		$	433,613		$	8,532		$	815,644

¹ Substantially all revenue is within the scope of ASC 840, Leases. The Company had $0.6 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, $11.9 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.

The following table presents revenue by source and by segment for the six months ended June 30, 2018:

	Six Months Ended June 30, 2018
(In Thousands)	Progressive Leasing			Aaron's Business			DAMI			Total
Lease Revenues and Fees1	$	970,183		$	745,822		$	—		$	1,716,005
Retail Sales2	—			15,108			—			15,108
Non-Retail Sales2	—			106,891			—			106,891
Franchise Royalties and Fees2	—			24,987			—			24,987
Interest and Fees on Loans Receivable3	—			—			18,750			18,750
Other	—			927			—			927
Total	$	970,183		$	893,735		$	18,750		$	1,882,668

¹ Substantially all lease revenues and fees are within the scope of ASC 840, Leases. The Company had $8.4 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, $19.2 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 six months ended June 30, 2017:

	Six Months Ended June 30, 2017
(In Thousands)	Progressive Leasing			Aaron's Business			DAMI			Total
Lease Revenues and Fees1	$	739,614		$	722,097		$	—		$	1,461,711
Retail Sales2	—			14,884			—			14,884
Non-Retail Sales2	—			138,929			—			138,929
Franchise Royalties and Fees2	—			27,025			—			27,025
Interest and Fees on Loans Receivable3	—			—			16,733			16,733
Other	—			916			—			916
Total	$	739,614		$	903,851		$	16,733		$	1,660,198

¹ Substantially all revenue is within the scope of ASC 840, Leases. The Company had $1.5 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, $25.1 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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X

- References

No definition available.

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