Segment Information

6 Months Ended

Jun. 30, 2019

The operating segments reported below are the segments for which separate financial information is available and for which segment results are evaluated by the chief operating decision makers. Our operating segments are organized based on factors including, but not limited to, type of business transactions, geographic location and store ownership. All operating segments offer merchandise from four basic product categories: consumer electronics, appliances, computers, furniture and accessories. Our Core U.S. and Franchising segments also offer smartphones.

Segment information for the three and six months ended June 30, 2019 and 2018 is as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
Revenues
Core U.S.	$	451,096	$	455,720	$	925,153	$	937,761
Acceptance Now	176,389		179,011		372,911		375,997
Mexico	13,551		12,307		26,896		24,338
Franchising	14,889		8,692		27,659		15,677
Total revenues	$	655,925	$	655,730	$	1,352,619	$	1,353,773



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
Gross profit
Core U.S.	$	313,871	$	325,219	$	638,511	$	661,460
Acceptance Now	80,380		86,050		166,708		174,855
Mexico	9,411		8,549		18,680		16,871
Franchising	4,409		4,068		9,038		7,678
Total gross profit	$	408,071	$	423,886	$	832,937	$	860,864



	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands)	2019		2018			2019			2018
Operating profit
Core U.S.	$	64,925	$	43,527		$	118,236		$	71,914
Acceptance Now	22,734		29,157			44,247			44,587
Mexico	1,474		887			2,693			1,384
Franchising	1,803		1,909			3,581			3,165
Total segments	90,936		75,480			168,757			121,050
Corporate	38,893		(48,329		)	(21,579		)	(104,169		)
Total operating profit	$	129,829	$	27,151		$	147,178		$	16,881



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
Depreciation and amortization
Core U.S.	$	5,110	$	6,440	$	10,582	$	13,266
Acceptance Now	313		432		661		867
Mexico	95		273		235		617
Franchising	9		44		39		88
Total segments	5,527		7,189		11,517		14,838
Corporate	9,594		10,239		19,377		20,490
Total depreciation and amortization	$	15,121	$	17,428	$	30,894	$	35,328



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
Capital expenditures
Core U.S.	$	907	$	4,325	$	1,465	$	9,215
Acceptance Now	54		35		101		80
Mexico	27		35		30		38
Total segments	988		4,395		1,596		9,333
Corporate	1,592		2,651		3,492		6,362
Total capital expenditures	$	2,580	$	7,046	$	5,088	$	15,695



(in thousands)	June 30, 2019		December 31, 2018
On rent rental merchandise, net
Core U.S.	$	392,904	$	424,829
Acceptance Now	216,988		242,978
Mexico	15,973		16,001
Total on rent rental merchandise, net	$	625,865	$	683,808



(in thousands)	June 30, 2019		December 31, 2018
Held for rent rental merchandise, net
Core U.S.	$	107,778	$	117,294
Acceptance Now	982		1,207
Mexico	4,493		5,161
Total held for rent rental merchandise, net	$	113,253	$	123,662



(in thousands)	June 30, 2019		December 31, 2018
Assets by segment
Core U.S.	$	922,482	$	714,914
Acceptance Now	281,835		312,151
Mexico	36,605		29,321
Franchising	7,159		4,287
Total segments	1,248,081		1,060,673
Corporate	496,132		336,244
Total assets	$	1,744,213	$	1,396,917