Segment Information (Notes)

3 Months Ended

Mar. 31, 2020

Segment Information [Abstract]

Segment Information

Segment Information

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 certain basic product categories: furniture, consumer electronics, appliances, computers, and accessories. Smartphones are also offered in our Company owned stores and franchise locations. In addition, in the Rent-A-Center Business segment, we have recently expanded into other product categories including, tools, tires, jewelry and other accessories.

Segment information for the three months ended March 31, 2020 and 2019 is as follows: 

	Three Months Ended March 31,
(in thousands)	2020		2019
Revenues
Rent-A-Center Business	$	454,965	$	474,057
Preferred Lease	216,127		196,522
Mexico	13,546		13,345
Franchising	17,301		12,770
Total revenues	$	701,939	$	696,694

	Three Months Ended March 31,
(in thousands)	2020		2019
Gross profit
Rent-A-Center Business	$	317,558	$	324,640
Preferred Lease	88,315		86,328
Mexico	9,528		9,269
Franchising	4,777		4,629
Total gross profit	$	420,178	$	424,866

	Three Months Ended March 31,
(in thousands)	2020		2019
Operating profit
Rent-A-Center Business	$	67,943	$	53,311
Preferred Lease	18,222		21,513
Mexico	967		1,219
Franchising	2,519		1,778
Total segments	89,651		77,821
Corporate	(40,776)		(60,472)
Total operating profit	$	48,875	$	17,349

	Three Months Ended March 31,
(in thousands)	2020		2019
Depreciation and amortization
Rent-A-Center Business	$	4,957	$	5,472
Preferred Lease	527		348
Mexico	93		140
Franchising	3		30
Total segments	5,580		5,990
Corporate	9,333		9,783
Total depreciation and amortization	$	14,913	$	15,773

	Three Months Ended March 31,
(in thousands)	2020		2019
Capital expenditures
Rent-A-Center Business	$	980	$	558
Preferred Lease	84		47
Mexico	37		3
Total segments	1,101		608
Corporate	8,050		1,900
Total capital expenditures	$	9,151	$	2,508

(in thousands)	March 31, 2020		December 31, 2019
On rent rental merchandise, net
Rent-A-Center Business	$	400,604	$	411,482
Preferred Lease	246,672		268,845
Mexico	13,328		16,943
Total on rent rental merchandise, net	$	660,604	$	697,270

(in thousands)	March 31, 2020		December 31, 2019
Held for rent rental merchandise, net
Rent-A-Center Business	$	115,698	$	131,086
Preferred Lease	715		1,254
Mexico	4,517		6,078
Total held for rent rental merchandise, net	$	120,930	$	138,418

(in thousands)	March 31, 2020		December 31, 2019
Assets by segment
Rent-A-Center Business	$	898,795	$	953,151
Preferred Lease	334,440		357,859
Mexico	28,086		33,707
Franchising	9,491		11,095
Total segments	1,270,812		1,355,812
Corporate	336,247		226,986
Total assets	$	1,607,059	$	1,582,798