Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

In the fourth quarter of 2023, we completed a qualitative assessment for impairment of goodwill as of October 1, 2023, 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. Therefore, no impairment of goodwill existed as of December 31, 2023.

At December 31, 2023 and 2022, the amount of goodwill attributable to the Rent-A-Center segment was approximately $1.5 million. At December 31, 2023 and 2022, the amount of goodwill attributable to the Acima segment was approximately $288.3 million.

A summary of the changes in recorded goodwill follows:


	Year Ended December 31,
(in thousands)	2023		2022
Beginning goodwill balance	$	289,750	$	289,750
Additions from acquisitions	—		—


Ending goodwill balance	$	289,750	$	289,750

Other Intangible Assets

Amortizable intangible assets consist of the following:


		December 31, 2023				December 31, 2022
(Dollar amounts in thousands)	Avg. Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	2	$	140,191	$	140,165	$	140,180	$	140,080
Merchant relationships	10	389,760		113,740		389,760		74,850
Trade name	7	40,000		16,394		40,000		10,680
Non-compete agreements	3	46,719		44,973		46,719		31,640
Total other intangible assets		$	616,670	$	315,272	$	616,659	$	257,250

Aggregate amortization expense (in thousands):


Year Ended December 31, 2023	$	58,022
Year Ended December 31, 2022	$	65,890
Year Ended December 31, 2021	$	102,742

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
2024	$	46,378
2025	44,604
2026	44,604
2027	44,604
2028	39,638
Thereafter	81,570
Total amortization expense	$	301,398