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Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (Unaudited)
(In Thousands, Except Per Share Data)
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
Year Ended December 31, 2019
 
 
 
 
 
 
 
Revenues2
$
1,012,103

 
$
968,141

 
$
963,808

 
$
1,003,604

Gross Profit1
399,978

 
381,965

 
358,667

 
381,491

Earnings (Loss) Before Income Taxes
70,308

 
56,819

 
51,665

 
(86,004
)
Net Earnings (Loss)
56,078

 
42,650

 
39,801

 
(107,057
)
Earnings (Loss) Per Share
0.83

 
0.63

 
0.59

 
(1.60
)
Earnings (Loss) Per Share Assuming Dilution
0.82

 
0.62

 
0.58

 
(1.60
)
 
 
 
 
 
 
 
 
Year Ended December 31, 2018
 
 
 
 
 
 
 
Revenues
$
954,809

 
$
927,859

 
$
953,071

 
$
993,184

Gross Profit1, 2, 3
351,241

 
345,557

 
341,074

 
376,497

Earnings Before Income Taxes
66,752

 
49,980

 
53,415

 
82,057

Net Earnings
52,246

 
38,501

 
43,720

 
61,743

Earnings Per Share
0.75

 
0.55

 
0.64

 
0.91

Earnings Per Share Assuming Dilution
0.73

 
0.54

 
0.62

 
0.89

1 Gross profit is the sum of lease revenues and fees, retail sales, non-retail sales, and interest and fees on loans receivable less retail cost of sales, non-retail cost of sales, depreciation of lease merchandise, bad debt expense, provision for write-offs of lease merchandise, provision for credit losses and certain other costs that are directly attributable to the derived revenue.
2 In accordance with the adoption of ASC 842, Progressive Leasing provision for returns and uncollectible renewal payments are recorded as a reduction to lease revenues and fees within the consolidated financial statements beginning January 1, 2019. Prior to January 1, 2019, Progressive Leasing provision for returns and uncollectible renewal payments were recorded as bad debt expense within operating expenses in the consolidated financial statements. Progressive Leasing bad debt expense included in the 2018 quarterly gross profits were $46.5 million, $50.0 million, $64.2 million and $67.0 million for the first, second, third and fourth quarter of 2018, respectively.
3 Quarterly gross profit for the year ended December 31, 2018 has been adjusted to include Progressive Leasing bad debt expense and certain other costs that are directly attributable to the derived revenue.