v3.20.2

Segments (Tables)

6 Months Ended

Jun. 30, 2020

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 June 30, 2020:

			Three Months Ended June 30, 2020
(In Thousands)			Progressive Leasing			Aaron's Business			Vive			Total
Lease Revenues and Fees1			$	589,749		$	380,238		$	—		$	969,987
Retail Sales2			—			14,020			—			14,020
Non-Retail Sales2			—			33,044			—			33,044
Franchise Royalties and Fees2			—			3,365			—			3,365
Interest and Fees on Loans Receivable3			—			—			9,414			9,414
Other			—			289			—			289
Total			$	589,749		$	430,956		$	9,414		$	1,030,119

¹ Substantially all lease revenues and fees are within the scope of ASC 842, Leases. The Company had $6.8 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.

² Substantially all retail sales, non-retail sales and franchise royalties and fees are within the scope of ASC 606, Revenue from Contracts with Customers.

³ All interest and fees on loans receivable are 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, 2019:

			Three Months Ended June 30, 2019
(In Thousands)			Progressive Leasing			Aaron's Business			Vive			Total
Lease Revenues and Fees1			$	516,333		$	391,232		$	—		$	907,565
Retail Sales2			—			8,898			—			8,898
Non-Retail Sales2			—			34,124			—			34,124
Franchise Royalties and Fees2			—			8,605			—			8,605
Interest and Fees on Loans Receivable3			—			—			8,610			8,610
Other			—			339			—			339
Total			$	516,333		$	443,198		$	8,610		$	968,141

¹ Substantially all lease revenues and fees are within the scope of ASC 842, Leases. The Company had $6.9 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.

² Substantially all retail sales, non-retail sales and franchise royalties and fees are within the scope of ASC 606, Revenue from Contracts with Customers.

³ All interest and fees on loans receivable are 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, 2020:

			Six Months Ended June 30, 2020
(In Thousands)			Progressive Leasing			Aaron's Business			Vive			Total
Lease Revenues and Fees1			$	1,248,283		$	769,617		$	—		$	2,017,900
Retail Sales2			—			23,551			—			23,551
Non-Retail Sales2			—			59,890			—			59,890
Franchise Royalties and Fees2			—			10,089			—			10,089
Interest and Fees on Loans Receivable3			—			—			19,322			19,322
Other			—			641			—			641
Total			$	1,248,283		$	863,788		$	19,322		$	2,131,393

¹ Substantially all lease revenues and fees are within the scope of ASC 842, Leases. The Company had $13.5 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.

² Substantially all retail sales, non-retail sales and franchise royalties and fees are within the scope of ASC 606, Revenue from Contracts with Customers.

³ All interest and fees on loans receivable are 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, 2019:

			Six Months Ended June 30, 2019
(In Thousands)			Progressive Leasing			Aaron's Business			Vive			Total
Lease Revenues and Fees1			$	1,039,734		$	811,988		$	—		$	1,851,722
Retail Sales2			—			21,707			—			21,707
Non-Retail Sales2			—			71,105			—			71,105
Franchise Royalties and Fees2			—			17,812			—			17,812
Interest and Fees on Loans Receivable3			—			—			17,256			17,256
Other			—			642			—			642
Total			$	1,039,734		$	923,254		$	17,256		$	1,980,244

¹ Substantially all lease revenues and fees are within the scope of ASC 842, Leases. The Company had $13.4 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.

² Substantially all retail sales, non-retail sales and franchise royalties and fees are within the scope of ASC 606, Revenue from Contracts with Customers.

³ All interest and fees on loans receivable are within the scope of ASC 310, Credit Card Interest & Fees.

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)			2020						2019						2020						2019
Earnings (Loss) Before Income Taxes:
Progressive Leasing			$	59,814					$	58,406					$	118,801					$	113,794
Aaron's Business1			32,009						138						(433,348)						17,726
Vive			714						(1,725)						(7,369)						(4,393)
Total Earnings (Loss) Before Income Taxes			$	92,537					$	56,819					$	(321,916)					$	127,127

¹ Loss before income taxes for the Aaron's Business during the six months ended June 30, 2020 was impacted by (i) goodwill impairment charges of $446.9 million incurred during the three months ended March 31, 2020, (ii) $14.1 million related to an early termination fee for a sales and marketing agreement during the three months ended March 31, 2020, and (iii) restructuring charges of $29.3 million related to operating lease right-of-use asset impairment and operating lease charges, fixed asset impairment charges, and workforce reductions, of which $7.0 million was incurred during the three months ended June 30, 2020.

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

(In Thousands)			June 30, 2020						December 31, 2019
Assets:
Progressive Leasing			$	1,093,647					$	1,261,786
Aaron's Business1,2			1,034,194						1,740,281
Vive			71,633						85,825
Other3			516,228						209,908
Total Assets			$	2,715,702					$	3,297,800

¹ Includes inventory (principally raw materials and work-in-process) that has been classified within lease merchandise in the condensed consolidated balance sheets of $12.8 million and $14.0 million as of June 30, 2020 and December 31, 2019, respectively.

² During the six months ended June 30, 2020, the Aaron's Business segment assets were impacted by a goodwill impairment charge of $446.9 million to fully write-off its goodwill balance.

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

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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