Goodwill and Other Intangible Assets (Notes)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Acquisitions [Text Block]

Goodwill and Other Intangible Assets

Goodwill

In the fourth quarter of 2021, we completed a qualitative assessment for impairment of goodwill as of October 1, 2021, concluding it was not more likely than not that the carrying value of the net assets of our reporting units exceeded their respective fair values and therefore no impairment of goodwill existed as of December 31, 2021.

At December 31, 2021 and 2020, the amount of goodwill attributable to the Rent-A-Center Business segment was approximately $1.5 million. At December 31, 2021 and 2020, the amount of goodwill attributable to the Acima segment was $288.3 million and $68.7 million, respectively.

A summary of the changes in recorded goodwill follows:

	Year Ended December 31,
(In thousands)	2021		2020
Beginning goodwill balance	$	70,217	$	70,217
Additions from acquisitions	241,774		—
Post purchase price allocation adjustments	(22,241)		—
Ending goodwill balance	$	289,750	$	70,217

Other Intangible Assets

Amortizable intangible assets consist of the following:

		December 31, 2021				December 31, 2020
(Dollar amounts in thousands)	Avg. Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships(1)	2	$	140,039	$	132,127	$	80,008	$	79,853
Merchant relationships	10	389,760		35,960		9,760		2,046
Trade Name	7	40,000		4,966		—		—
Non-compete agreements	3	46,719		18,307		6,719		6,719
Total other intangible assets		$	616,518	$	191,360	$	96,487	$	88,618

(1)Includes acquired Relationships with Existing Lessees from Acima Holdings with a remaining useful life of 1 year from the date of acquisition, February 17, 2021.

Aggregate amortization expense (in thousands):

Year Ended December 31, 2021	$	102,742
Year Ended December 31, 2020	$	1,070
Year Ended December 31, 2019	$	723

Estimated amortization expense, assuming current intangible balances and no new acquisitions, for each of the years ending December 31, is as follows:

(In thousands)	Estimated Amortization Expense
2022	$	65,850
2023	57,938
2024	46,350
2025	44,604
2026	44,604
Thereafter	165,812
Total amortization expense	$	425,158