v3.10.0.1

Segments (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

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

	Year Ended December 31,
(In Thousands)	2018				2017				2016
Earnings (Loss) Before Income Tax (Benefit) Expense:
Progressive Leasing	$	175,015			$	140,224			$	104,686
Aaron’s Business	84,683				110,642				123,009
DAMI	(7,494		)		(11,289		)		(9,273		)
Total Earnings Before Income Tax (Benefit) Expense	$	252,204			$	239,577			$	218,422

Corporate-related assets that benefit multiple segments are reported as other assets in the table below.

	December 31,
(In Thousands)	2018				2017
Assets:
Progressive Leasing	$	1,088,227			$	1,022,413
Aaron’s Business1	1,483,102				1,261,234
DAMI	95,341				108,306
Other	160,022				300,311
Total Assets	$	2,826,692			$	2,692,264
Assets From Canadian Operations (included in totals above):
Aaron’s Business	$	25,893			$	20,223

¹ Includes inventory (principally raw materials and work-in-process) that has been classified within lease merchandise in the consolidated balance sheets of $15.2 million and $16.3 million as of December 31, 2018 and 2017, respectively.

	Year Ended December 31,
(In Thousands)	2018				2017				2016
Depreciation and Amortization1:
Progressive Leasing	$	27,974			$	29,048			$	30,727
Aaron’s Business	64,744				52,251				50,658
DAMI	1,432				1,273				993
Total Depreciation and Amortization	$	94,150			$	82,572			$	82,378
Interest Expense:
Progressive Leasing	$	16,288			$	18,577			$	20,042
Aaron’s Business	(2,944		)		(2,366		)		(768		)
DAMI	3,096				4,327				4,116
Total Interest Expense	$	16,440			$	20,538			$	23,390
Capital Expenditures:
Progressive Leasing	$	10,711			$	8,213			$	6,084
Aaron’s Business	67,099				48,335				50,582
DAMI	1,035				1,425				787
Total Capital Expenditures	$	78,845			$	57,973			$	57,453

¹ Excludes depreciation of lease merchandise, which is not included in the chief operating decision maker's measure of depreciation and amortization.

The following table presents revenue by source and by segment for the year ended December 31, 2018:

	Year Ended December 31, 2018
(In Thousands)	Progressive Leasing			Aaron's Business4			DAMI			Total
Lease Revenues and Fees1	$	1,998,981		$	1,507,437		$	—		$	3,506,418
Retail Sales2	—			31,271			—			31,271
Non-Retail Sales2	—			207,262			—			207,262
Franchise Royalties and Fees2	—			44,815			—			44,815
Interest and Fees on Loans Receivable3	—			—			37,318			37,318
Other	—			1,839			—			1,839
Total	$	1,998,981		$	1,792,624		$	37,318		$	3,828,923

¹ Substantially all lease revenues and fees are within the scope of ASC 840, Leases. The Company had $19.8 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, $33.3 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 sales are recognized as revenue at the point of sale. Non-retail sales are recognized as revenue upon delivery of the merchandise.

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

⁴ Includes revenues from Canadian operations of $21.3 million, which are primarily Lease Revenues and Fees.

The following table presents revenue by source and by segment for the year ended December 31, 2017:

	Year Ended December 31, 2017
(In Thousands)	Progressive Leasing			Aaron's Business4			DAMI			Total
Lease Revenues and Fees1	$	1,566,413		$	1,433,818		$	—		$	3,000,231
Retail Sales2	—			27,465			—			27,465
Non-Retail Sales2	—			270,253			—			270,253
Franchise Royalties and Fees2	—			48,278			—			48,278
Interest and Fees on Loans Receivable3	—			—			34,925			34,925
Other	—			2,556			—			2,556
Total	$	1,566,413		$	1,782,370		$	34,925		$	3,383,708

¹ Substantially all revenue is within the scope of ASC 840, Leases. The Company had $6.3 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.

² Revenue within the scope of ASC 605, Revenue from Contracts with Customers. Of the Franchise Royalties and Fees, $44.6 million relates to franchise royalty income that is recognized as the franchisee collects cash revenue from its customers. Retail sales are recognized as revenue at the point of sale. Non-retail sales are recognized as revenue upon delivery of the merchandise.

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

⁴ Includes revenues from Canadian operations of $18.3 million, which are primarily Lease Revenues and Fees.

The following table presents revenue by source and by segment for the year ended December 31, 2016:

	Year Ended December 31, 2016
(In Thousands)	Progressive Leasing			Aaron's Business4			DAMI			Total
Lease Revenues and Fees1	$	1,237,597		$	1,543,227		$	—		$	2,780,824
Retail Sales2	—			29,418			—			29,418
Non-Retail Sales2	—			309,446			—			309,446
Franchise Royalties and Fees2	—			58,350			—			58,350
Interest and Fees on Loans Receivable3	—			—			24,080			24,080
Other	—			5,598			—			5,598
Total	$	1,237,597		$	1,946,039		$	24,080		$	3,207,716

¹ Substantially all revenue is within the scope of ASC 840, Leases. The Company had $2.8 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.

² Revenue within the scope of ASC 605, Revenue from Contracts with Customers. Of the Franchise Royalties and Fees, $53.7 million relates to franchise royalty income that is recognized as the franchisee collects cash revenue from its customers. Retail sales are recognized as revenue at the point of sale. Non-retail sales are recognized as revenue upon delivery of the merchandise.

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

⁴ Includes revenues from Canadian operations of $12.4 million, which are primarily Lease Revenues and 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

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-Publisher FASB
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