XML 22 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
Other Charges - Operating Expenses
6 Months Ended
Jun. 30, 2016
Restructuring Costs and Asset Impairment Charges [Abstract]  
Other Charges - Operating Expenses
Other Charges - Operating Expenses.
U.S Core Store and Acceptance Now Consolidation Plan. During the second quarter of 2016, we closed 167 U.S. Core and 96 Acceptance Now locations, resulting in a pre-tax restructuring charge of $18.8 millionfor the three and six months ended June 30, 2016. Restructuring charges consisted of lease obligation costs of $15.0 million, of which $1.0 million was paid as of June 30, 2016, disposal of fixed assets of $2.6 million, and other miscellaneous costs.
Mexico Store Consolidation Plan. During the first quarter of 2016, we closed 14 stores in Mexico, resulting in pre-tax restructuring charges of $2.4 million for the six months ended June 30, 2016, in the Mexico segment, for disposal of rental merchandise, disposal of fixed assets and leasehold improvements, and other miscellaneous costs. During 2015, management closed 34 stores in Mexico. These store closures resulted in pre-tax restructuring charges of $2.8 million and $3.1 million for the three and six months ended June 30, 2015, respectively, in the Mexico segment, for disposal of fixed assets and leasehold improvements, and other miscellaneous costs.
Sourcing and Distribution Network Startup Costs. As a result of an agreement with a third-party logistics partner, we incurred approximately$1.7 million of one-time costs for the three and six months ended June 30, 2015, to set up warehousing facilities and distribution routes, reflected in the Core U.S. segment.
Sale of Stores. In the second quarter of 2015, we sold six Core U.S. rent-to-own stores in a single transaction, resulting in a $0.6 million loss for the three and six months ended June 30, 2015.