XML 60 R46.htm IDEA: XBRL DOCUMENT v3.22.0.1
Acquisitions and Divestitures (Details)
$ / shares in Units, $ in Thousands
10 Months Ended 12 Months Ended
Feb. 17, 2021
USD ($)
$ / shares
shares
Dec. 20, 2020
USD ($)
Oct. 05, 2020
USD ($)
store
Aug. 13, 2019
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2021
USD ($)
store
Dec. 31, 2020
USD ($)
store
Dec. 31, 2019
USD ($)
store
Dec. 31, 2018
USD ($)
Acquisitions and Divestitures [Line Items]                    
Working capital adjustment       $ 900            
Description of goodwill recognized             consists of the excess of the net purchase price over the fair value of the net assets acquired      
Goodwill             $ 241,774 $ 0    
Proceeds from sale of assets             4 14,477 $ 69,717  
On rent         $ 1,173,024 $ 762,886 1,173,024 762,886 697,270  
Property, Plant and Equipment, Net         308,098 141,641 308,098 141,641    
Loss (gain) on sale or disposal of property assets             (353) (18,215) 23,537  
Accrued liabilities         362,708 320,583 362,708 320,583    
Deferred tax liability         113,943 176,410 113,943 176,410    
Allowance for doubtful accounts         8,479 8,047 8,479 8,047 5,601 $ 4,883
Accounts Receivable, before Allowance for Credit Loss         134,857 98,050 134,857 98,050    
Total revenues             4,583,451 2,814,191 2,669,852  
Net earnings             134,940 208,115 173,546  
Operating Expenses             1,954,473 1,434,816 1,390,212  
Deferred tax asset         68,391 33,782 68,391 33,782    
Goodwill         289,750 70,217 289,750 70,217 70,217  
Acquired intangible assets weighted average useful life       10 years            
Post purchase price allocation adjustments             (22,241) 0    
Pro Forma                    
Acquisitions and Divestitures [Line Items]                    
Operating Expenses             16,000 356,800    
Rent-A-Center Business [Member]                    
Acquisitions and Divestitures [Line Items]                    
Total purchase price             278 700 504  
Rental merchandise         248 523 $ 248 $ 523 $ 353  
Number of stores acquired remaining open | store             1 0 0  
Number of stores acquired that were merged with existing stores | store             0 2 4  
Number of transactions | store             1 2 4  
Goodwill             $ 0 $ 0 $ 66  
On rent         477,901 444,945 477,901 444,945 411,482  
Total revenues             2,037,849 1,852,641 1,800,486  
Goodwill         1,500   1,500      
Rent-A-Center Business [Member] | Customer relationships [Member]                    
Acquisitions and Divestitures [Line Items]                    
Acquisition amounts allocated to finite-lived intangible assets             30 177 $ 85  
CALIFORNIA                    
Acquisitions and Divestitures [Line Items]                    
Number of stores in California [Line Items] | store     99              
Proceeds from sale of assets     $ 16,000              
On rent     30,000              
Property, Plant and Equipment, Net     800              
Loss (gain) on sale or disposal of property assets     $ 16,600              
Merchants Preferred [Member]                    
Acquisitions and Divestitures [Line Items]                    
Common stock consideration       701,918 shares of our common stock            
Common stock price | $ / shares       $ 27.31            
Aggregate purchase price       $ 46,400            
Description of acquired entity       a nationwide provider of virtual lease-to-own services            
Total purchase price       $ 28,000            
Receivables       1,813            
Prepaid expenses and other assets       154            
Rental merchandise       17,904            
Software       4,300            
Right of use operating leases       404            
Other intangible assets       8,900            
Lease liabilities       487            
Net identifiable assets acquired       46,391            
Goodwill       $ 13,403            
Acquired entity       Merchants Preferred            
Acima Holdings                    
Acquisitions and Divestitures [Line Items]                    
Common stock price | $ / shares $ 51.14                  
Aggregate purchase price $ 1,394,192 $ 1,400,000                
Description of acquired entity Acima Holdings is a platform offering customers virtual lease-to-own solutions at the point-of-sale via web and mobile technology.                  
Total purchase price $ 1,273,263                  
Receivables 25,255                  
Prepaid expenses and other assets 700                  
Rental merchandise 340,575                  
Right of use operating leases 9,136                  
Other intangible assets 520,000                  
Goodwill 219,530                  
Lease liabilities (9,689)                  
Net identifiable assets acquired $ (1,394,192)                  
Description of goodwill recognized which consists of the excess of the net purchase price over the fair value of the net assets acquired. Goodwill represents expected cost and revenue synergies and other benefits expected to result within our retail partner business from the acquisition of Acima Holdings.                  
Acquisition related expenses $ 23,700                  
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned 120,929                  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment 171,455                  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets 1,315,210                  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable 16,023                  
Accrued liabilities 11,716                  
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets (116,410)                  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities $ (78,982)                  
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares 10,779,923                  
Allowance for doubtful accounts $ 34,700                  
Accounts Receivable, before Allowance for Credit Loss 61,600                  
Business Acquisition, Pro Forma Revenue             4,778,055 4,071,990    
Business Acquisition, Pro Forma Net Income (Loss)             178,103 $ 66,352    
Total revenues         1,495,746 1,116,430        
Net earnings         $ 119,183 $ 196,088        
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period             17,100      
Deferred tax asset 28,559                  
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory             14,300      
Goodwill $ 219,500                  
Acquired intangible assets weighted average useful life 8 years                  
Post purchase price allocation adjustments             $ (22,200)      
Acima Holdings | Software and Software Development Costs                    
Acquisitions and Divestitures [Line Items]                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment $ 170,000                  
Acima Holdings | Share-based Payment Arrangement                    
Acquisitions and Divestitures [Line Items]                    
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares 2,683,328                  
Acima Holdings | Restricted Stock Units (RSUs) [Member]                    
Acquisitions and Divestitures [Line Items]                    
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned $ 414,100                  
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares 8,096,595                  
Acima Holdings | Contract-Based Intangible Assets                    
Acquisitions and Divestitures [Line Items]                    
Other intangible assets $ 380,000                  
Acquired intangible assets weighted average useful life 10 years                  
Acima Holdings | Customer Contracts                    
Acquisitions and Divestitures [Line Items]                    
Other intangible assets $ 60,000                  
Acquired intangible assets weighted average useful life 1 year                  
Acima Holdings | Trade Names                    
Acquisitions and Divestitures [Line Items]                    
Other intangible assets $ 40,000                  
Acquired intangible assets weighted average useful life 7 years                  
Acima Holdings | Non-compete agreements [Member]                    
Acquisitions and Divestitures [Line Items]                    
Other intangible assets $ 40,000                  
Acquired intangible assets weighted average useful life 3 years