0000000000-24-004147.txt : 20240531 0000000000-24-004147.hdr.sgml : 20240531 20240417093603 ACCESSION NUMBER: 0000000000-24-004147 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20240417 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: UPBOUND GROUP, INC. CENTRAL INDEX KEY: 0000933036 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 450491516 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD SEC FILE NUMBER: 001-38047 BUSINESS ADDRESS: STREET 1: 5501 HEADQUARTERS DRIVE CITY: PLANO STATE: TX ZIP: 75024 BUSINESS PHONE: 972-801-1100 MAIL ADDRESS: STREET 1: 5501 HEADQUARTERS DRIVE CITY: PLANO STATE: TX ZIP: 75024 FORMER COMPANY: FORMER CONFORMED NAME: RENT A CENTER INC DE DATE OF NAME CHANGE: 19990112 FORMER COMPANY: FORMER CONFORMED NAME: RENTERS CHOICE INC DATE OF NAME CHANGE: 19941128 PUBLIC REFERENCE ACCESSION NUMBER: 0000933036-24-000048 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]#;VQO7!E+UA/8FIE8W0O5VED=&@@,30R."],96YG=&@@,S8U+T)I='-097)# M;VUP;VYE;G0@.#X^7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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M7,O4=:TF,E@/ MAUZ@0M8WON!4:2-?BXWK.+Y4H;->S7T=&N=;M75^YJ.[]T^ARO#=_$%Z=TW< MY1)=/@K7_K%YQ)L,V,Q ^@-,[8E["F5N9'-T%LP(#$T72])1"!;/# W931A-64W,30Q-C8Y8S(T M,S!D.&)B-60T93 P9F8Q/CPP-V4T835E-S$T,38V.6,R-#,P9#AB8C5D-&4P M,&9F,3Y=+U)O;W0@,3$@,"!2+TQE;F=T:" V,2]3:7IE(#$T/CYS=')E86T* M>)QC8&#X_Y^1@9^!@9%)DH&!B8&#@0E$,#.F'()P64 $ V/A9B"1]1LBQLA8 M,!_(+3C+ +__P, )M<*90IE;F1S=')E86T*96YD;V)J"B5I5&5X="TU+C0N 8-0IS=&%R='AR968*,CDT,C0*)25%3T8* end TEXT-EXTRACT 2 filename2.txt United States securities and exchange commission logo April 17, 2024 Fahmi Karam Chief Financial Officer Upbound Group, Inc. 5501 Headquarters Drive Plano, TX 75024 Re: Upbound Group, Inc. Form 10-K for Fiscal Year Ended December 31, 2023 Form 8-K Furnished February 22, 2024 File No. 001-38047 Dear Fahmi Karam: We have limited our review of your filing to the financial statements and related disclosures and have the following comment(s). Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 8-K Furnished February 22, 2024 Exhibit 99.2 Upbound Group, Inc. Earnings Release Fourth Quarter and Full Year 2023 Results & Key Metrics Fourth Quarter Consolidated Results, page 1 1. Please present the most directly comparable GAAP measure "net income" for Adjusted EBITDA for fourth quarter and full year 2023 operating results. This applies to other charts in Exhibit 99.2 where you present and discuss operating profit as the most directly comparable GAAP measure for Adjusted EBITDA. This comment also applies to your Investor Presentation in Exhibit 99.3. Refer to Question 102.10(a) of the Compliance and Disclosure Interpretations on Non-GAAP Financial Measures. Reconciliation of operating profit (loss) to Adjusted EBITDA (consolidated and by segment) Three months ended December 31, 2023 and 2022 Years Ended December 31, 2023 and 2022, page 15 Fahmi Karam Upbound Group, Inc. April 17, 2024 Page 2 2. Please reconcile "Adjusted EBITDA" to the most directly comparable GAAP measure "net income" for the three months and years ended December 31, 2023 and 2022. This comment also applies to your Investor Presentation in Exhibit 99.3. Refer to Question 103.02 of the Compliance and Disclosure Interpretations on Non-GAAP Financial Measures. Exhibit 99.3 Investor Presentation Supplemental Segment Performance Details - Including Non-GAAP Adjustments, page 24 3. It appears you remove "other charges" in arriving at non-GAAP operating expenses. Please describe the nature of the other charges and quantify each component therein to the extent material. Also, disclose why you believe it is appropriate to adjust for these charges and why it is meaningful to investors to do so. Further, describe the operating expenses adjusted to remove other charges as non-GAAP for clarity. Refer to Item 10(e)(1)(i)(C) of Regulation S-K. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Robert Shapiro at 202-551-3273 or Doug Jones at 202-551-3309 with any questions. FirstName LastNameFahmi Karam Sincerely, Comapany NameUpbound Group, Inc. Division of Corporation Finance April 17, 2024 Page 2 Office of Trade & Services FirstName LastName