v3.19.2

Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table presents summaries of the preliminary fair value of the assets acquired and liabilities assumed in the franchisee acquisitions as of the respective acquisition dates:
(In Thousands) | Amounts Recognized as of Acquisition Dates (as of March 31, 2019)1 | Acquisition Accounting Adjustments | Amounts Recognized as of Acquisition Dates (as of June 30, 2019)
Purchase Price | $ | 189,826 |  | $ | 341 |  | $ | 190,167 |
Add: Settlement of Pre-existing Relationship | 5,405 |  | — |  | 5,405 |
Less: Working Capital Adjustments | 155 |  | — |  | 155 |
Aggregate Consideration Transferred | 195,386 |  | 341 |  | 195,727 |
Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed |  |  |
Cash and Cash Equivalents | 50 |  | — |  | 50 |
Lease Merchandise | 59,616 |  | — |  | 59,616 |
Property, Plant and Equipment | 5,568 |  | — |  | 5,568 |
Operating Lease Right-of-Use Assets | — |  | — |  | — |
Other Intangibles 2 | 24,498 |  | — |  | 24,498 |
Prepaid Expenses and Other Assets | 1,206 |  | — |  | 1,206 |
Total Identifiable Assets Acquired | 90,938 |  | — |  | 90,938 |
Accounts Payable and Accrued Expenses | (910 | ) | (67 | ) | (977 | )
Customer Deposits and Advance Payments | (5,156 | ) | — |  | (5,156 | )
Total Liabilities Assumed | (6,066 | ) | (67 | ) | (6,133 | )
Goodwill 3 | 110,514 |  | 408 |  | 110,922 |
Net Assets Acquired | $ | 84,872 |  | $ | (67 | ) | $ | 84,805 |
1 As previously reported in Note 2 to the condensed consolidated financial statements as of March 31, 2019. 2 Identifiable intangible assets are further disaggregated in the table set forth below. 3 The total goodwill recognized in conjunction with the franchisee acquisitions, all of which is expected to be deductible for tax purposes, has been assigned to the Aaron’s Business reporting unit. The purchase price exceeded the fair value of the net assets acquired, which resulted in the recognition of goodwill, primarily due to synergies created from the expected future benefits to the Company’s omnichannel platform, implementation of the Company’s operational capabilities, expected inventory supply chain synergies between the Aaron’s Business and Progressive Leasing, and control of the Company’s brand name in new geographic markets. Goodwill also includes certain other intangible assets that do not qualify for separate recognition, such as an assembled workforce.
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The estimated intangible assets attributable to the franchisee acquisitions are comprised of the following:
| Fair Value (In Thousands) |  | Weighted Average Life (In Years)
Non-compete Agreements | $ | 1,872 |  |  | 3.0
Customer Lease Contracts | 7,876 |  |  | 1.0
Customer Relationships | 10,087 |  |  | 3.0
Reacquired Franchise Rights | 4,663 |  |  | 3.9
Total Acquired Intangible Assets 1 | $ | 24,498 |  |  |
1 Acquired definite-lived intangible assets have a total weighted average life of 2.5 years.

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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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