v3.19.1

Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

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

The following table presents revenue by source and by segment for the three months ended March 31, 2019:

	Three Months Ended March 31, 2019
(In Thousands)	Progressive Leasing			Aaron's Business			DAMI			Total
Lease Revenues and Fees1	$	523,401		$	420,756		$	—		$	944,157
Retail Sales2	—			12,809			—			12,809
Non-Retail Sales2	—			36,981			—			36,981
Franchise Royalties and Fees2	—			9,207			—			9,207
Interest and Fees on Loans Receivable3	—			—			8,646			8,646
Other	—			303			—			303
Total	$	523,401		$	480,056		$	8,646		$	1,012,103

¹ Substantially all lease revenues and fees are within the scope of ASC 842, Leases. The Company had $7.9 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, $7.0 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.

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 842, Leases. The Company had $5.0 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 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.

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

(In Thousands)	March 31, 2019				December 31, 2018
Assets:
Progressive Leasing	$	1,106,668			$	1,088,227
Aaron's Business1	1,774,858				1,483,102
DAMI	89,533				95,341
Other2	266,907				160,022
Total Assets	$	3,237,966			$	2,826,692

¹ Includes inventory (principally raw materials and work-in-process) that has been classified within lease merchandise in the condensed consolidated balance sheets of $14.5 million and $15.2 million as of March 31, 2019 and December 31, 2018, respectively.

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

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

	Three Months Ended   March 31,
(In Thousands)	2019				2018
Earnings (Loss) Before Income Taxes:
Progressive Leasing	$	55,388			$	34,979
Aaron's Business1	17,588				33,079
DAMI	(2,668		)		(1,306		)
Total Earnings Before Income Taxes	$	70,308			$	66,752

¹

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.

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