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Segments (Tables)
9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Information on Segments and Reconciliation to Earnings Before Income Taxes from Continuing Operations
(In Thousands)
September 30,
2014
 
December 31,
2013
Assets:
 
 
 
Sales and Lease Ownership
$
1,242,931

 
$
1,431,720

Progressive
819,587

 

HomeSmart
46,384

 
47,970

Franchise
37,600

 
47,788

Manufacturing1
27,131

 
24,305

Other
114,295

 
275,393

Total Assets
$
2,287,928

 
$
1,827,176

1  
Includes inventory (principally raw materials and work-in-process) that has been classified within lease merchandise in the consolidated balance sheets of $16.4 million and $14.0 million as of September 30, 2014 and December 31, 2013, respectively.
The Aaron’s Sales & Lease Ownership division offers furniture, electronics, appliances and computers to consumers primarily on a monthly payment basis with no credit requirements. Progressive is a leading virtual lease-to-own company that provides lease-purchase solutions through over 15,000 retail locations in 46 states. The HomeSmart division was established to offer furniture, electronics, appliances and computers to consumers primarily on a weekly payment basis with no credit requirements. The Company’s Franchise operation awards franchises and supports franchisees of its sales and lease ownership concept. The Manufacturing segment manufactures upholstered furniture and bedding predominantly for use by Company-operated and franchised stores. Therefore, the Manufacturing segment's revenues and earnings before income taxes are primarily the result of intercompany transactions, substantially all of which revenues and earnings are eliminated through the elimination of intersegment revenues and intersegment profit. 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
(In Thousands)
2014
 
2013
 
2014
 
2013
Revenues From External Customers:
 
 
 
 
 
 
 
Sales and Lease Ownership
$
481,340

 
$
498,151

 
$
1,525,100

 
$
1,554,422

Progressive
189,826

 

 
328,705

 

HomeSmart
15,445

 
15,098

 
48,598

 
47,623

Franchise
15,838

 
16,530

 
50,147

 
51,564

Manufacturing
20,794

 
23,501

 
75,692

 
78,622

Other
361

 
5,440

 
2,626

 
16,643

Revenues of Reportable Segments
723,604

 
558,720

 
2,030,868

 
1,748,874

Elimination of Intersegment Revenues
(20,713
)
 
(22,673
)
 
(74,375
)
 
(76,427
)
Cash to Accrual Adjustments
4,673

 
1,177

 
9,004

 
8,332

Total Revenues from External Customers
$
707,564

 
$
537,224

 
$
1,965,497

 
$
1,680,779

Earnings (Loss) Before Income Taxes:
 
 
 
 
 
 
 
Sales and Lease Ownership1
$
21,415

 
$
34,521

 
$
109,166

 
$
145,795

Progressive
1,689

 

 
1,366

 

HomeSmart
(986
)
 
(1,480
)
 
(1,717
)
 
(2,468
)
Franchise
12,542

 
13,084

 
38,173

 
40,841

Manufacturing
(17
)
 
22

 
441

 
67

Other2, 3
(23,945
)
 
(19,292
)
 
(62,419
)
 
(50,037
)
Earnings Before Income Taxes for Reportable Segments
10,698

 
26,855

 
85,010

 
134,198

Elimination of Intersegment Loss (Profit)
22

 
(5
)
 
(405
)
 
(55
)
Cash to Accrual and Other Adjustments
2,479

 
2,570

 
2,866

 
16,706

Total Earnings Before Income Taxes
$
13,199

 
$
29,420

 
$
87,471

 
$
150,849

1 Sales and Lease Ownership segment earnings before income taxes were impacted by $4.8 million of restructuring charges incurred during the nine months ended September 30, 2014 related to the closure of 44 Company-operated stores, of which $2.6 million was incurred during the three months ended September 30, 2014.
2 Other segment loss before income taxes for the three and nine months ended September 30, 2014 were impacted by $9.1 million