Upbound (UPBD) 10-Q 1 Aug 16 2016 Q2 Quarterly report Financial data

Document and Company Informatio

Document and Company Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 26, 2016
Entity Information [Line Items]
Entity Registrant Name	RENT A CENTER INC DE
Entity Central Index Key	933,036
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	RCII
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		53,116,261

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Store
Rentals and fees	$ 645,710	$ 704,125	$ 1,320,005	$ 1,415,575
Merchandise sales	76,777	83,286	208,484	219,566
Installment sales	17,672	18,161	36,092	36,414
Other	3,280	4,725	7,368	10,156
Total store revenues	743,439	810,297	1,571,949	1,681,711
Franchise
Merchandise sales	4,023	3,179	8,970	7,566
Royalty income and fees	2,157	1,867	4,352	3,705
Total revenues	749,619	815,343	1,585,271	1,692,982
Store
Cost of rentals and fees	169,139	185,406	345,380	370,524
Cost of merchandise sold	70,903	82,363	184,789	200,085
Cost of installment sales	5,662	6,114	11,687	12,271
Total cost of store revenues	245,704	273,883	541,856	582,880
Franchise
Franchise cost of merchandise sold	3,757	2,931	8,313	6,980
Total cost of revenues	249,461	276,814	550,169	589,860
Gross profit	500,158	538,529	1,035,102	1,103,122
Operating expenses
Labor	199,992	212,534	409,379	433,508
Other store expenses	192,856	205,602	404,663	429,777
General and administrative expenses	40,135	45,182	83,196	87,873
Depreciation, amortization and write-down of intangibles	20,776	20,397	40,600	40,161
Other charges	18,849	5,113	21,284	5,504
Total operating expenses	472,608	488,828	959,122	996,823
Operating profit	27,550	49,701	75,980	106,299
Interest expense	11,737	12,143	23,714	24,721
Interest income	(108)	(182)	(205)	(372)
Earnings (loss) before income taxes	15,921	37,740	52,471	81,950
Income tax expense (benefit)	5,975	14,593	17,464	31,505
NET EARNINGS (LOSS)	$ 9,946	$ 23,147	$ 35,007	$ 50,445
Basic earnings (loss) per common share	$ 0.19	$ 0.44	$ 0.66	$ 0.95
Diluted earnings (loss) per common share	0.19	0.43	0.66	0.95
Cash dividends declared per common share	$ 0.08	$ 0.24	$ 0.16	$ 0.48

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net earnings (loss)	$ 9,946	$ 23,147	$ 35,007	$ 50,445
Other comprehensive loss:
Total other comprehensive loss	(1,377)	(605)	1,073	(1,382)
COMPREHENSIVE INCOME (LOSS)	$ 8,569	$ 22,542	$ 36,080	$ 49,063

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 88,170	$ 60,363
Receivables, net of allowance for doubtful accounts of $3,388 in 2016 and $3,614 in 2015	64,402	69,320
Prepaid expenses and other assets	63,177	158,807
Rental merchandise, net
On rent	780,934	907,625
Held for rent	225,350	228,847
Merchandise held for installment sale	4,164	4,668
Property assets, net of accumulated depreciation of $498,683 in 2016 and $482,448 in 2015	316,610	330,939
Goodwill	207,027	206,122
Other intangible assets, net	6,408	7,777
Total Assets	1,756,242	1,974,468
LIABILITIES
Accounts payable - trade	93,111	96,355
Accrued liabilities	337,642	332,553
Deferred income taxes	98,281	119,245
SecuredDebtNet	187,864	419,648
Senior notes	542,740	542,740
SeniorNotesNet	536,833	536,185
Total Liabilities	1,253,731	1,503,986
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $.01 par value; 250,000,000 shares authorized; 109,461,602 and 109,441,911 shares issued in 2016 and 2015, respectively	1,095	1,094
Additional paid-in capital	822,808	818,339
Retained earnings	1,036,256	1,009,770
Treasury stock at cost, 56,369,752 shares in 2016 and 2015	(1,347,677)	(1,347,677)
Accumulated other comprehensive loss	(9,971)	(11,044)
Total Stockholders' Equity	502,511	470,482
Total Liabilities and Stockholders' Equity	$ 1,756,242	$ 1,974,468

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Allowance for doubtful accounts	$ 3,388	$ 3,614
Accumulated depreciation, property assets	$ 498,683	$ 482,448
Common stock - par value	$ 0.01	$ 0.01
Common stock - shares authorized	250,000,000	250,000,000
Common stock - shares issued	109,461,602	109,441,911
Treasury stock - shares at cost	56,369,752	56,369,752

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities
Net earnings	$ 35,007	$ 50,445
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation of rental merchandise	341,186	365,644
Bad debt expense	6,800	6,822
Stock-based compensation expense	4,814	4,986
Depreciation of property assets	38,857	37,671
Loss on sale or disposal of property assets	2,942	3,450
Amortization of intangibles	1,224	1,810
Amortization of financing fees	1,558	1,550
Deferred income taxes	(20,965)	(71,741)
Excess tax benefit related to stock awards	0	(67)
Changes in operating assets and liabilities, net of effects of acquisitions
Rental merchandise	(211,536)	(302,785)
Receivables	(1,881)	(5,223)
Prepaid expenses and other assets	96,008	128,065
Accounts payable - trade	(3,244)	(25,175)
Accrued liabilities	12,280	(6,218)
Net cash provided by operating activities	303,050	189,234
Cash flows from investing activities
Purchase of property assets	(28,183)	(42,869)
Proceeds from sale of property assets	2,918	3,844
Acquisitions of businesses	(3,089)	(14,071)
Net cash used in investing activities	(28,354)	(53,096)
Cash flows from financing activities
Exercise of stock options	0	1,155
Excess tax benefit related to stock awards	0	67
Proceeds from debt	51,610	347,730
Repayments of debt	(284,305)	(434,350)
Dividends paid	(17,034)	(25,493)
Net cash provided (used in) by financing activities	(249,729)	(110,891)
Effect of exchange rate changes on cash	2,840	(862)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	27,807	24,385
Cash and cash equivalents at beginning of period	60,363	46,126
Cash and cash equivalents at end of period	$ 88,170	$ 70,511

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Basis of Presentation [Abstract]
Basis of Presentation	The interim consolidated financial statements of Rent-A-Center, Inc. included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to the SEC’s rules and regulations, although we believe the disclosures are adequate to make the information presented not misleading. We suggest these financial statements be read in conjunction with the financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2015 . In our opinion, the accompanying unaudited interim financial statements contain all adjustments, consisting only of those of a normal recurring nature, necessary to present fairly our results of operations and cash flows for the periods presented. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. These financial statements include the accounts of Rent-A-Center, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context indicates otherwise, references to “Rent-A-Center” refer only to Rent-A-Center, Inc., the parent, and references to “we,” “us” and “our” refer to the consolidated business operations of Rent-A-Center and any or all of its direct and indirect subsidiaries. We report four operating segments: Core U.S., Acceptance Now, Mexico and Franchising. Our Core U.S. segment consists of company-owned rent-to-own stores in the United States, Canada and Puerto Rico that lease household durable goods to customers on a rent-to-own basis. We also offer merchandise on an installment sales basis in certain of our stores under the names “Get It Now” and “Home Choice.” Our Acceptance Now segment generally offers the rent-to-own transaction to consumers who do not qualify for financing from the traditional retailer through kiosks located within such retailers’ locations. Those kiosks can be staffed by an Acceptance Now employee (staffed locations) or employ a virtual solution where customers initiate the rent-to-own transaction online in the retailers' locations using our tablet computer and our virtual solution (direct locations). Our Mexico segment consists of our company-owned rent-to-own stores in Mexico that lease household durable goods to customers on a rent-to-own basis. Our stores in Mexico operate under the name “RAC - La mejor forma de comprar,” which translates as RAC - A better way to buy. Rent-A-Center Franchising International, Inc., an indirect, wholly owned subsidiary of Rent-A-Center, is a franchisor of rent-to-own stores. Our Franchising segment’s primary source of revenue is the sale of rental merchandise to its franchisees, who in turn offer the merchandise to the general public for rent or purchase under a rent-to-own transaction. The balance of our Franchising segment’s revenue is generated primarily from royalties based on franchisees’ monthly gross revenues. New Accounting Pronouncements. On April 7, 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. Rent-A-Center adopted this ASU retrospectively as of January 1, 2016, and now reports debt issuance costs which were previously included in Prepaid expenses and other assets as a deduction from the associated debt liabilities as disclosed in Notes 2 and 3 to the consolidated financial statements. This resulted in a reduction in prepaid expenses and other assets of $11.0 million and $12.5 million , respectively, a reduction in senior debt of $5.1 million and $6.0 million , respectively, and a reduction in senior notes of $5.9 million and $6.5 million , respectively, at June 30, 2016 and December 31, 2015 . There was no impact to our results of operations or cash flows. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. On July 9, 2015, the FASB approved a one-year deferral of the effective date. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , which amends ASU 2014-09 relating to how and when a company recognizes revenue when another party is involved in providing a good or service to a customer. Under Topic 606, a company will recognize revenue on a gross basis when it provides a good or service to a customer (acts as the principal in a transaction), and on a net basis when it arranges for the good or service to be provided to the customer by another party (acts as an agent in a transaction). ASU 2016-08 provides additional guidance for determining whether a company acts as a principal or agent, depending primarily on whether a company controls goods or services before delivery to the customer. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which provides additional guidance related to the identification of performance obligations within the contract, and licensing. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients , which provides additional guidance related to certain technical areas within ASU 2014-09. The adoption of these additional ASUs must be concurrent with the adoption of ASU 2014-09, which will be required for Rent-A-Center beginning January 1, 2018, with early adoption permitted as of the original effective date. These ASUs allow adoption with either retrospective application to each prior period presented, or retrospective application with the cumulative effect recognized as of the date of initial application. We are currently in the process of determining what impact the adoption of these ASUs will have on our financial position, results of operations and cash flows, and we are evaluating the adoption date and transition alternatives. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which replaces existing accounting literature relating to the classification of, and accounting for, leases. Under ASU 2016-02, a company must recognize for all leases (with the exception of leases with terms less than 12 months) a liability representing a lessee's obligation to make lease payments arising from a lease, and a right-of-use asset representing the lessee's right to use, or control the us of, a specified asset for the lease term. Lessor accounting is largely unchanged, with certain improvements to align lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The adoption of ASU 2016-02 will be required for Rent-A-Center beginning January 1, 2019, with early adoption permitted. The ASU must be adopted using a modified retrospective transition, applying the new criteria to all leases existing or entered into after the beginning of the earliest comparative period in the consolidated financial statements. We are currently in the process of determining the what impact the adoption of this ASU will have on our financial position, results of operations and cash flows, and we are evaluating the adoption date and transition alternatives. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. The adoption of ASU 2016-09 will be required for Rent-A-Center beginning January 1, 2017. ASU 2016-09 requires that certain provisions be adopted using a modified retrospective transition and other provisions retrospectively. We are currently in the process of determining what impact the adoption of this ASU will have on our financial position, results of operations and cash flows, and we are evaluating the adoption date and transition alternatives. From time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that we adopt as of the specified effective date. Unless otherwise discussed, we believe the impact of any other recently issued standards that are not yet effective are either not applicable to us at this time or will not have a material impact on our consolidated financial statements upon adoption.

Senior Debt

Senior Debt	6 Months Ended
	Jun. 30, 2016
Senior Debt [Abstract]
Senior Debt	Senior Debt. On March 19, 2014, we entered into a Credit Agreement (the "Credit Agreement") among the Company, the several lenders from time to time parties to the Credit Agreement, Bank of America, N.A., BBVA Compass Bank, Wells Fargo Bank, National Association and SunTrust Bank, as syndication agents, and JPMorgan Chase Bank, N.A., as administrative agent. The Credit Agreement represents a refinancing of our senior secured debt outstanding under our prior credit agreement, the Fourth Amended and Restated Credit Agreement, dated as of May 28, 2003, as amended and restated as of July 14, 2011, and as amended by the First Amendment dated as of April 13, 2012, among the Company, the several banks and other financial institutions or entities from time to time parties thereto, and JPMorgan Chase Bank, N.A., as administrative agent (as amended, the "Prior Credit Agreement"). The Credit Agreement provides a $900.0 million senior credit facility consisting of $225.0 million in term loans (the "Term Loans") and a $675.0 million revolving credit facility (the "Revolving Facility"). The Term Loans are scheduled to mature on March 19, 2021 , and the Revolving Facility has a scheduled maturity of March 19, 2019 . Also on March 19, 2014, we borrowed $225.0 million in Term Loans and $100.0 million under the Revolving Facility and utilized the proceeds to repay our prior senior secured debt outstanding under the Prior Credit Agreement. The Term Loans are payable in consecutive quarterly installments each in an aggregate principal amount of $562,500 , with a final installment equal to the remaining principal balance of the Term Loans due on March 19, 2021 . We are also required to pay down the Term Loans each year by an amount equal to 50% of annual excess cash flow, as defined in the Credit Agreement. This percentage requirement decreases to 25% if the Consolidated Total Leverage Ratio (as defined in the Credit Agreement) is between 3.0:1 and 2.5:1, and to 0% if the Consolidated Total Leverage Ratio is less than 2.5:1. We made a mandatory excess cash flow prepayment in March 2016 with respect to our results for the year ended December 31, 2015, of approximately $27 million . No mandatory excess cash flow prepayment was made with respect to the year ended December 31, 2014. We are further required to pay down the Term Loans with proceeds from certain asset sales or borrowings as defined in the Credit Agreement. The amounts outstanding under the Term Loans were $192.9 million at June 30, 2016 , and there were no outstanding borrowings under the Revolving Facility at June 30, 2016 . Outstanding borrowings for senior debt at June 30, 2016 were reduced by total unamortized issuance costs of $5.1 million . The amounts outstanding under the Term Loan and Revolving Facility at December 31, 2015 , were $221.1 million and $190.0 million , respectively. Outstanding borrowings for senior debt at December 31, 2015 were reduced by total unamortized issuance costs of $6.0 million . The full amount of the Revolving Facility may be used for the issuance of letters of credit, of which $94.7 million had been so utilized as of June 30, 2016 , and at which date $580.3 million was available. Borrowings under the Revolving Facility bear interest at varying rates equal to either the Eurodollar rate plus 1.50% to 2.75% , or the prime rate plus 0.50% to 1.75% (ABR), at our election. The margins on the Eurodollar loans and on the ABR loans for borrowings under the Revolving Facility, which were 2.25% and 1.25% , respectively, at June 30, 2016 , may fluctuate based upon an increase or decrease in our consolidated total leverage ratio as defined by a pricing grid included in the Credit Agreement. The margins on the Eurodollar loans and on the ABR loans for Term Loans are 3.00% and 2.00% , respectively, but may also fluctuate in the event the all-in pricing for any subsequent incremental Term Loan exceeds the all-in pricing for prior Term Loans by more than 0.50% per annum. A commitment fee equal to 0.30% to 0.50% of the unused portion of the Revolving Facility is payable quarterly, and fluctuates dependent upon an increase or decrease in our consolidated total leverage ratio. The commitment fee during the second quarter of 2016 was equal to 0.45% of the unused portion of the Revolving Facility. Our borrowings under the Credit Agreement are, subject to certain exceptions, secured by a security interest in substantially all of our tangible and intangible assets, including intellectual property, and are also secured by a pledge of the capital stock of our U.S. subsidiaries. The Credit Agreement also permits us to increase the amount of the Term Loans and/or the Revolving Facility from time to time on up to three occasions, in an aggregate amount of no more than $250.0 million , provided that we are not in default at the time and have obtained the consent of the administrative agent and the lenders providing such increase. Subject to a number of exceptions, the Credit Agreement contains, without limitation, covenants that generally limit our ability and the ability of our subsidiaries to: • incur additional debt; • repurchase capital stock, repurchase 6.625% notes and 4.75% notes and/or pay cash dividends when total leverage is greater than 2.5:1 (subject to an exception for cash dividends in an amount not to exceed $20.0 million annually); • incur liens or other encumbrances; • merge, consolidate or sell substantially all property or business; • sell, lease or otherwise transfer assets (other than in the ordinary course of business); • make investments or acquisitions (unless they meet financial tests and other requirements); or • enter into an unrelated line of business. The Credit Agreement requires us to comply with several financial covenants, including: (i) a consolidated total leverage ratio of no greater than 4.25:1 from the quarter ended December 31, 2015, to the quarter ended September 30, 2016, and 4.00:1 thereafter; (ii) a consolidated senior secured leverage ratio of no greater than 2.75:1; and (iii) a consolidated fixed charge coverage ratio of no less than 1.75:1. The table below shows the required and actual ratios under the Credit Agreement calculated as of June 30, 2016 : Required Ratio Actual Ratio Consolidated total leverage ratio No greater than 4.25:1 2.37:1 Consolidated senior secured leverage ratio No greater than 2.75:1 0.46:1 Consolidated fixed charge coverage ratio No less than 1.75:1 1.83:1 These financial covenants, as well as the related components of their computation, are defined in the Credit Agreement, which is included as an exhibit to our Current Report on Form 8-K dated as of March 19, 2014. In accordance with the Credit Agreement, the actual consolidated total leverage ratio was calculated by dividing the consolidated funded debt outstanding at June 30, 2016 ( $672.5 million ) by consolidated EBITDA for the 12-month period ending June 30, 2016 ( $284.1 million ). For purposes of the covenant calculations, (i) “consolidated funded debt” is defined as outstanding indebtedness less cash in excess of $25.0 million , and (ii) “consolidated EBITDA” is generally defined as consolidated net income (a) plus the sum of income taxes, interest expense, depreciation and amortization expense, extraordinary non-cash expenses or losses, and other non-cash charges, and (b) minus the sum of interest income, extraordinary income or gains, other non-cash income, and cash payments with respect to extraordinary non-cash expenses or losses recorded in prior fiscal quarters. Consolidated EBITDA is a non-GAAP financial measure that is presented not as a measure of operating results, but rather as a measure used to determine covenant compliance under our senior credit facilities. The actual consolidated senior secured leverage ratio was calculated pursuant to the Credit Agreement by dividing the consolidated senior secured debt outstanding at June 30, 2016 ( $129.8 million ) by consolidated EBITDA for the 12-month period ending June 30, 2016 ( $284.1 million ). For purposes of the covenant calculation, “consolidated senior secured debt” is generally defined as the aggregate principal amount of consolidated funded debt that is then secured by liens on property or assets of the Company or its subsidiaries, less cash greater than $25 million. On February 1, 2016, we entered into a First Amendment (the “First Amendment”), with JPMorgan Chase Bank, N.A., as administrative agent, the other agents party thereto and the lenders party thereto, to the Credit Agreement. The First Amendment permits us to make Restricted Payments (as such term is defined in the Credit Agreement) with respect to repurchases of and dividends upon our capital stock and repurchases of our senior unsecured notes, in an aggregate amount during any fiscal year not to exceed $20 million , if after giving pro forma effect thereto the Consolidated Senior Leverage Ratio (as such term is defined in the Credit Agreement) is greater than 2.50:1 and less than or equal to 3.75:1. The First Amendment is included as an exhibit to our Current Report on Form 8-K dated as of February 1, 2016. The actual consolidated fixed charge coverage ratio was calculated pursuant to the Credit Agreement by dividing the sum of consolidated EBITDA and consolidated lease expense for the 12-month period ending June 30, 2016 ( $520.5 million ), by consolidated fixed charges for the 12-month period ending June 30, 2016 ( $284.3 million ). For purposes of the covenant calculation, “consolidated fixed charges” is defined as the sum of consolidated interest expense and consolidated lease expense. Events of default under the Credit Agreement include customary events, such as a cross-acceleration provision in the event that we default on other debt. In addition, an event of default under the Credit Agreement would occur if a change of control occurs. This is defined to include the case where a third party becomes the beneficial owner of 35% or more of our voting stock or certain changes in the composition of Rent-A-Center’s Board of Directors occur. An event of default would also occur if one or more judgments were entered against us of $50.0 million or more and such judgments were not satisfied or bonded pending appeal within 30 days after entry. We utilize our Revolving Facility for the issuance of letters of credit, as well as to manage normal fluctuations in operational cash flow caused by the timing of cash receipts. In that regard, we may from time to time draw funds under the Revolving Facility for general corporate purposes. Amounts are drawn as needed due to the timing of cash flows and are generally paid down as cash is generated by our operating activities. In addition to the senior credit facilities discussed above, we maintain a $20.0 million unsecured, revolving line of credit with INTRUST Bank, N.A. to facilitate cash management. The outstanding balance of this line of credit was $0.0 and $14.6 million at June 30, 2016 , and December 31, 2015 , respectively. The line of credit generally renews on August 21 of each year. Borrowings under this line of credit bear interest at the greater of a variable rate or 2.0%. The table below shows the scheduled maturity dates of our outstanding debt at June 30, 2016 : Term Loan Revolving Facility INTRUST Line of Credit Total Year Ending December 31, (In thousands) 2016 $ 1,125 $ — $ — $ 1,125 2017 2,250 — — 2,250 2018 2,250 — — 2,250 2019 2,250 — — 2,250 2020 2,250 — — 2,250 Thereafter 182,813 — — 182,813 $ 192,938 $ — $ — $ 192,938

Subsidiary Guarantors - Senior

Subsidiary Guarantors - Senior Notes	6 Months Ended
	Jun. 30, 2016
Subsidiary Guarantors - Senior Notes [Abstract]
Subsidiary Guarantors - Senior Notes	Subsidiary Guarantors – Senior Notes. Senior Notes Due 2020. On November 2, 2010, we issued $300.0 million in senior unsecured notes due November 2020, bearing interest at 6.625%, pursuant to an indenture dated November 2, 2010, among Rent-A-Center, Inc., its subsidiary guarantors and The Bank of New York Mellon Trust Company, as trustee. A portion of the proceeds of this offering were used to repay approximately $200.0 million of outstanding term debt under our Prior Credit Agreement. The remaining net proceeds were used to repurchase shares of our common stock. The principal amount of the 6.625% notes outstanding as of June 30, 2016 , and December 31, 2015 , was $292.7 million , reduced by $2.8 million and $3.1 million of unamortized issuance costs, respectively. Senior Notes Due 2021. On May 2, 2013, we issued $250.0 million in senior unsecured notes due May 2021, bearing interest at 4.750%, pursuant to an indenture dated May 2, 2013, among Rent-A-Center, Inc., its subsidiary guarantors and The Bank of New York Mellon Trust Company, as trustee. A portion of the proceeds of this offering were used to repurchase shares of our common stock under a $200.0 million accelerated stock buyback program. The remaining net proceeds were used to repay outstanding revolving debt under our Prior Credit Agreement. The principal amount of the 4.750% notes outstanding as of June 30, 2016 , and December 31, 2015 , was $250.0 million , reduced by $3.1 million and $3.4 million of unamortized issuance costs, respectively. The indentures governing the 6.625% notes and the 4.750% notes are substantially similar. Each indenture contains covenants that limit our ability to: • incur additional debt; • sell assets or our subsidiaries; • grant liens to third parties; • pay cash dividends or repurchase stock when total leverage is greater than 2.5:1 (subject to an exception for cash dividends in an amount not to exceed $20 million annually); and • engage in a merger or sell substantially all of our assets. Events of default under each indenture include customary events, such as a cross-acceleration provision in the event that we default in the payment of other debt due at maturity or upon acceleration for default in an amount exceeding $50.0 million , as well as in the event a judgment is entered against us in excess of $50.0 million that is not discharged, bonded or insured. The 6.625% notes may be redeemed on or after November 15, 2015, at our option, in whole or in part, at a premium declining from 103.313% . The 6.625% notes may be redeemed on or after November 15, 2018, at our option, in whole or in part, at par. The 6.625% notes also require that upon the occurrence of a change of control (as defined in the 2010 indenture), the holders of the notes have the right to require us to repurchase the notes at a price equal to 101% of the original aggregate principal amount, together with accrued and unpaid interest, if any, to the date of repurchase. The 4.750% notes may be redeemed on or after May 1, 2016, at our option, in whole or in part, at a premium declining from 103.563% . The 4.750% notes may be redeemed on or after May 1, 2019, at our option, in whole or in part, at par. The 4.750% notes also require that upon the occurrence of a change of control (as defined in the 2013 indenture), the holders of the notes have the right to require us to repurchase the notes at a price equal to 101% of the original aggregate principal amount, together with accrued and unpaid interest, if any, to the date of repurchase. Any mandatory repurchase of the 6.625% notes and/or the 4.750% notes would trigger an event of default under our Credit Agreement. We are not required to maintain any financial ratios under either of the indentures. Rent-A-Center and its subsidiary guarantors have fully, jointly and severally, and unconditionally guaranteed the obligations of Rent-A-Center with respect to the 6.625% notes and the 4.750% notes. Rent-A-Center has no independent assets or operations, and each subsidiary guarantor is 100% owned directly or indirectly by Rent-A-Center. The only direct or indirect subsidiaries of Rent-A-Center that are not guarantors are minor subsidiaries. There are no restrictions on the ability of any of the subsidiary guarantors to transfer funds to Rent-A-Center in the form of loans, advances or dividends, except as provided by applicable law.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value	Fair Value. We use a three-tier fair value hierarchy, which classifies the inputs used in measuring fair values, in determining the fair value of our non-financial assets and non-financial liabilities, which consist primarily of goodwill. These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. There were no changes in the methods and assumptions used in measuring fair value during the period. At June 30, 2016 , our financial instruments include cash and cash equivalents, receivables, payables, senior debt and senior notes. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value at June 30, 2016 , and December 31, 2015 , because of the short maturities of these instruments. Our senior debt is variable rate debt that re-prices frequently and entails no significant change in credit risk and, as a result, fair value approximates carrying value. The fair value of our senior notes is based on Level 1 inputs and was as follows at June 30, 2016 , and December 31, 2015 , (in thousands): June 30, 2016 December 31, 2015 Carrying Value Fair Value Difference Carrying Value Fair Value Difference 6.625% senior notes $ 292,740 $ 275,176 $ (17,564 ) $ 292,740 $ 248,097 $ (44,643 ) 4.75% senior notes 250,000 209,675 (40,325 ) 250,000 183,125 (66,875 ) Total $ 542,740 $ 484,851 $ (57,889 ) $ 542,740 $ 431,222 $ (111,518 )

Other Charges - Operating Expen

Other Charges - Operating Expenses	6 Months Ended
	Jun. 30, 2016
Restructuring Costs and Asset Impairment Charges [Abstract]
Other Charges - Operating Expenses	Other Charges - Operating Expenses. U.S Core Store and Acceptance Now Consolidation Plan. During the second quarter of 2016, we closed 167 U.S. Core and 96 Acceptance Now locations, resulting in a pre-tax restructuring charge of $18.8 million for the three and six months ended June 30, 2016 . Restructuring charges consisted of lease obligation costs of $15.0 million , of which $1.0 million was paid as of June 30, 2016, disposal of fixed assets of $2.6 million , and other miscellaneous costs. Mexico Store Consolidation Plan. During the first quarter of 2016, we closed 14 stores in Mexico, resulting in pre-tax restructuring charges of $2.4 million for the six months ended June 30, 2016 , in the Mexico segment, for disposal of rental merchandise, disposal of fixed assets and leasehold improvements, and other miscellaneous costs. During 2015, management closed 34 stores in Mexico. These store closures resulted in pre-tax restructuring charges of $2.8 million and $3.1 million for the three and six months ended June 30, 2015 , respectively, in the Mexico segment, for disposal of fixed assets and leasehold improvements, and other miscellaneous costs. Sourcing and Distribution Network Startup Costs. As a result of an agreement with a third-party logistics partner, we incurred approximately $1.7 million of one-time costs for the three and six months ended June 30, 2015 , to set up warehousing facilities and distribution routes, reflected in the Core U.S. segment. Sale of Stores. In the second quarter of 2015, we sold six Core U.S. rent-to-own stores in a single transaction, resulting in a $0.6 million loss for the three and six months ended June 30, 2015 .

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
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 four basic product categories: consumer electronics, appliances, computers, furniture and accessories, and our Core U.S. and franchising segments also offers smartphones. Segment information for the three months ended June 30, 2016 and 2015 is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenues Core U.S. $ 530,612 $ 593,496 $ 1,114,977 $ 1,222,699 Acceptance Now 199,516 200,464 429,912 424,741 Mexico 13,311 16,337 27,060 34,271 Franchising 6,180 5,046 13,322 11,271 Total revenues $ 749,619 $ 815,343 $ 1,585,271 $ 1,692,982 Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Gross profit Core U.S. $ 383,129 $ 421,610 $ 795,018 $ 862,750 Acceptance Now 105,352 103,896 216,494 213,060 Mexico 9,254 10,908 18,581 23,021 Franchising 2,423 2,115 5,009 4,291 Total gross profit $ 500,158 $ 538,529 $ 1,035,102 $ 1,103,122 Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Operating profit (loss) Core U.S. $ 38,715 $ 66,698 $ 100,951 $ 134,271 Acceptance Now 27,547 31,696 56,916 66,228 Mexico 572 (7,179 ) (2,038 ) (10,633 ) Franchising 1,425 991 2,838 2,207 Total segment operating profit 68,259 92,206 158,667 192,073 Corporate (40,709 ) (42,505 ) (82,687 ) (85,774 ) Total operating profit $ 27,550 $ 49,701 $ 75,980 $ 106,299 Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Depreciation, amortization and write-down of intangibles Core U.S. $ 10,563 $ 13,084 $ 21,455 $ 25,759 Acceptance Now 828 799 1,665 1,552 Mexico 864 1,412 1,803 2,886 Franchising 44 46 89 95 Total segments 12,299 15,341 25,012 30,292 Corporate 8,477 5,056 15,588 9,869 Total depreciation, amortization and write-down of intangibles $ 20,776 $ 20,397 $ 40,600 $ 40,161 Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Capital expenditures Core U.S. $ 3,456 $ 5,435 $ 7,227 $ 6,249 Acceptance Now 305 545 597 828 Mexico 76 10 223 118 Total segments 3,837 5,990 8,047 7,195 Corporate 9,906 22,634 20,136 35,674 Total capital expenditures $ 13,743 $ 28,624 $ 28,183 $ 42,869 Segment information - Selected balance sheet data (in thousands): June 30, 2016 December 31, 2015 On rent rental merchandise, net Core U.S. $ 442,103 $ 540,004 Acceptance Now 323,618 350,046 Mexico 15,213 17,575 Total on rent rental merchandise, net $ 780,934 $ 907,625 June 30, 2016 December 31, 2015 Held for rent rental merchandise, net Core U.S. $ 211,011 $ 215,327 Acceptance Now 5,915 5,000 Mexico 8,424 8,520 Total held for rent rental merchandise, net $ 225,350 $ 228,847 June 30, 2016 December 31, 2015 Assets by segment Revised Core U.S. $ 1,031,773 $ 1,240,593 Acceptance Now 400,161 426,827 Mexico 35,399 38,898 Franchising 2,619 2,723 Total segments 1,469,952 1,709,041 Corporate 286,290 265,427 Total assets $ 1,756,242 $ 1,974,468

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2016
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation. We recognized $2.5 million and $2.8 million in pre-tax compensation expense related to stock options and restricted stock units during the three months ended June 30, 2016 and 2015 , respectively, and $4.8 million and $5.0 million during the six months ended June 30, 2016 and 2015, respectively. During the six months ended June 30, 2016 , we granted approximately 827,000 stock options, 622,000 performance-based restricted stock units and 424,000 time-vesting restricted stock units. The stock options granted were valued using a Black-Scholes pricing model with the following assumptions: an expected volatility of 35.88% to 42.19% , a risk-free interest rate of 1.14% to 1.85% , an expected dividend yield of 2.0% to 6.4% and an expected life of 3.50 to 5.75 years . The weighted-average exercise price of the options granted during the six months ended June 30, 2016 , was $11.62 and the weighted-average grant-date fair value was $2.92 . Performance-based restricted stock units are valued using a Monte Carlo simulation. Time-vesting restricted stock units are valued using the closing price on the trading day immediately preceding the day of the grant. The weighted-average grant date fair value of the restricted stock units granted during the six months ended June 30, 2016 , was $9.14 .

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies. From time to time, the company, along with our subsidiaries, is party to various legal proceedings arising in the ordinary course of business. We reserve for loss contingencies that are both probable and reasonably estimable. We regularly monitor developments related to these legal proceedings, and review the adequacy of our legal reserves on a quarterly basis. We do not expect these losses to have a material impact on our consolidated financial statements if and when such losses are incurred. We are subject to unclaimed property audits by states in the ordinary course of business. A comprehensive multi-state unclaimed property audit is currently in progress. The property subject to review in this audit process includes unclaimed wages, vendor payments and customer refunds. State escheat laws generally require entities to report and remit abandoned and unclaimed property to the state. Failure to timely report and remit the property can result in assessments that could include interest and penalties, in addition to the payment of the escheat liability itself. We routinely remit escheat payments to states in compliance with applicable escheat laws. Management believes it is too early to determine the ultimate outcome of this audit, as our remediation efforts are still in process.
Guarantees	Our subsidiary, ColorTyme Finance, Inc. (“ColorTyme Finance”), is a party to an agreement with Citibank, N.A., pursuant to which Citibank provides up to $27.0 million in aggregate financing to qualifying franchisees of Franchising. Under the Citibank agreement, upon an event of default by the franchisee under agreements governing this financing and upon the occurrence of certain other events, Citibank can assign the loans and the collateral securing such loans to ColorTyme Finance, with ColorTyme Finance paying or causing to be paid the outstanding debt to Citibank and then succeeding to the rights of Citibank under the debt agreements, including the right to foreclose on the collateral. Rent-A-Center and ColorTyme Finance guarantee the obligations of the franchise borrowers under the Citibank facility. An additional $20.0 million of financing is provided by Texas Capital Bank, National Association under an agreement similar to the Citibank financing, which is guaranteed by Rent-A-Center East, Inc., a subsidiary of Rent-A-Center. The maximum guarantee obligations under these agreements, excluding the effects of any amounts that could be recovered under collateralization provisions, is $47.0 million , of which $8.3 million was outstanding as of June 30, 2016 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Common Share. Basic and diluted earnings per common share were calculated as follows (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Numerator: Net earnings $ 9,946 $ 23,147 $ 35,007 $ 50,445 Denominator: Weighted-average shares outstanding 53,092 53,039 53,089 53,036 Effect of dilutive stock awards 289 322 273 333 Weighted-average dilutive shares 53,381 53,361 53,362 53,369 Basic earnings per share $ 0.19 $ 0.44 $ 0.66 $ 0.95 Diluted earnings per share $ 0.19 $ 0.43 $ 0.66 $ 0.95 For the three-month period ended June 30, 2016 and 2015 , the number of anti-dilutive stock awards that were outstanding but not included in the computation of diluted earnings per common share was 3,528,812 and 2,041,664 , respectively. For the six-month period ended June 30, 2016 and 2015 , the number of anti-dilutive stock awards that were outstanding but not included in the computation of diluted earnings per common share was 3,522,874 and 2,041,664 , respectively.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Principles of Consolidation	These financial statements include the accounts of Rent-A-Center, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated.
New Accounting Pronouncements	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. On July 9, 2015, the FASB approved a one-year deferral of the effective date. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , which amends ASU 2014-09 relating to how and when a company recognizes revenue when another party is involved in providing a good or service to a customer. Under Topic 606, a company will recognize revenue on a gross basis when it provides a good or service to a customer (acts as the principal in a transaction), and on a net basis when it arranges for the good or service to be provided to the customer by another party (acts as an agent in a transaction). ASU 2016-08 provides additional guidance for determining whether a company acts as a principal or agent, depending primarily on whether a company controls goods or services before delivery to the customer. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which provides additional guidance related to the identification of performance obligations within the contract, and licensing. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients , which provides additional guidance related to certain technical areas within ASU 2014-09. The adoption of these additional ASUs must be concurrent with the adoption of ASU 2014-09, which will be required for Rent-A-Center beginning January 1, 2018, with early adoption permitted as of the original effective date. These ASUs allow adoption with either retrospective application to each prior period presented, or retrospective application with the cumulative effect recognized as of the date of initial application. We are currently in the process of determining what impact the adoption of these ASUs will have on our financial position, results of operations and cash flows, and we are evaluating the adoption date and transition alternatives. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which replaces existing accounting literature relating to the classification of, and accounting for, leases. Under ASU 2016-02, a company must recognize for all leases (with the exception of leases with terms less than 12 months) a liability representing a lessee's obligation to make lease payments arising from a lease, and a right-of-use asset representing the lessee's right to use, or control the us of, a specified asset for the lease term. Lessor accounting is largely unchanged, with certain improvements to align lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The adoption of ASU 2016-02 will be required for Rent-A-Center beginning January 1, 2019, with early adoption permitted. The ASU must be adopted using a modified retrospective transition, applying the new criteria to all leases existing or entered into after the beginning of the earliest comparative period in the consolidated financial statements. We are currently in the process of determining the what impact the adoption of this ASU will have on our financial position, results of operations and cash flows, and we are evaluating the adoption date and transition alternatives. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. The adoption of ASU 2016-09 will be required for Rent-A-Center beginning January 1, 2017. ASU 2016-09 requires that certain provisions be adopted using a modified retrospective transition and other provisions retrospectively. We are currently in the process of determining what impact the adoption of this ASU will have on our financial position, results of operations and cash flows, and we are evaluating the adoption date and transition alternatives. From time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that we adopt as of the specified effective date. Unless otherwise discussed, we believe the impact of any other recently issued standards that are not yet effective are either not applicable to us at this time or will not have a material impact on our consolidated financial statements upon adoption.

Senior Debt (Tables)

Senior Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Senior Debt [Abstract]
Financial Covenants Ratios	The Credit Agreement requires us to comply with several financial covenants, including: (i) a consolidated total leverage ratio of no greater than 4.25:1 from the quarter ended December 31, 2015, to the quarter ended September 30, 2016, and 4.00:1 thereafter; (ii) a consolidated senior secured leverage ratio of no greater than 2.75:1; and (iii) a consolidated fixed charge coverage ratio of no less than 1.75:1. The table below shows the required and actual ratios under the Credit Agreement calculated as of June 30, 2016 : Required Ratio Actual Ratio Consolidated total leverage ratio No greater than 4.25:1 2.37:1 Consolidated senior secured leverage ratio No greater than 2.75:1 0.46:1 Consolidated fixed charge coverage ratio No less than 1.75:1 1.83:1
Schedule of Maturities of Long-term Debt	The table below shows the scheduled maturity dates of our outstanding debt at June 30, 2016 : Term Loan Revolving Facility INTRUST Line of Credit Total Year Ending December 31, (In thousands) 2016 $ 1,125 $ — $ — $ 1,125 2017 2,250 — — 2,250 2018 2,250 — — 2,250 2019 2,250 — — 2,250 2020 2,250 — — 2,250 Thereafter 182,813 — — 182,813 $ 192,938 $ — $ — $ 192,938

Fair Value Fair Value (Tables)

Fair Value Fair Value (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements, Nonrecurring	The fair value of our senior notes is based on Level 1 inputs and was as follows at June 30, 2016 , and December 31, 2015 , (in thousands): June 30, 2016 December 31, 2015 Carrying Value Fair Value Difference Carrying Value Fair Value Difference 6.625% senior notes $ 292,740 $ 275,176 $ (17,564 ) $ 292,740 $ 248,097 $ (44,643 ) 4.75% senior notes 250,000 209,675 (40,325 ) 250,000 183,125 (66,875 ) Total $ 542,740 $ 484,851 $ (57,889 ) $ 542,740 $ 431,222 $ (111,518 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Information [Abstract]
Segment Information	Segment information for the three months ended June 30, 2016 and 2015 is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Revenues Core U.S. $ 530,612 $ 593,496 $ 1,114,977 $ 1,222,699 Acceptance Now 199,516 200,464 429,912 424,741 Mexico 13,311 16,337 27,060 34,271 Franchising 6,180 5,046 13,322 11,271 Total revenues $ 749,619 $ 815,343 $ 1,585,271 $ 1,692,982 Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Gross profit Core U.S. $ 383,129 $ 421,610 $ 795,018 $ 862,750 Acceptance Now 105,352 103,896 216,494 213,060 Mexico 9,254 10,908 18,581 23,021 Franchising 2,423 2,115 5,009 4,291 Total gross profit $ 500,158 $ 538,529 $ 1,035,102 $ 1,103,122 Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Operating profit (loss) Core U.S. $ 38,715 $ 66,698 $ 100,951 $ 134,271 Acceptance Now 27,547 31,696 56,916 66,228 Mexico 572 (7,179 ) (2,038 ) (10,633 ) Franchising 1,425 991 2,838 2,207 Total segment operating profit 68,259 92,206 158,667 192,073 Corporate (40,709 ) (42,505 ) (82,687 ) (85,774 ) Total operating profit $ 27,550 $ 49,701 $ 75,980 $ 106,299 Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Depreciation, amortization and write-down of intangibles Core U.S. $ 10,563 $ 13,084 $ 21,455 $ 25,759 Acceptance Now 828 799 1,665 1,552 Mexico 864 1,412 1,803 2,886 Franchising 44 46 89 95 Total segments 12,299 15,341 25,012 30,292 Corporate 8,477 5,056 15,588 9,869 Total depreciation, amortization and write-down of intangibles $ 20,776 $ 20,397 $ 40,600 $ 40,161 Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Capital expenditures Core U.S. $ 3,456 $ 5,435 $ 7,227 $ 6,249 Acceptance Now 305 545 597 828 Mexico 76 10 223 118 Total segments 3,837 5,990 8,047 7,195 Corporate 9,906 22,634 20,136 35,674 Total capital expenditures $ 13,743 $ 28,624 $ 28,183 $ 42,869 Segment information - Selected balance sheet data (in thousands): June 30, 2016 December 31, 2015 On rent rental merchandise, net Core U.S. $ 442,103 $ 540,004 Acceptance Now 323,618 350,046 Mexico 15,213 17,575 Total on rent rental merchandise, net $ 780,934 $ 907,625 June 30, 2016 December 31, 2015 Held for rent rental merchandise, net Core U.S. $ 211,011 $ 215,327 Acceptance Now 5,915 5,000 Mexico 8,424 8,520 Total held for rent rental merchandise, net $ 225,350 $ 228,847 June 30, 2016 December 31, 2015 Assets by segment Revised Core U.S. $ 1,031,773 $ 1,240,593 Acceptance Now 400,161 426,827 Mexico 35,399 38,898 Franchising 2,619 2,723 Total segments 1,469,952 1,709,041 Corporate 286,290 265,427 Total assets $ 1,756,242 $ 1,974,468

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Basic and diluted earnings per common share were calculated as follows (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Numerator: Net earnings $ 9,946 $ 23,147 $ 35,007 $ 50,445 Denominator: Weighted-average shares outstanding 53,092 53,039 53,089 53,036 Effect of dilutive stock awards 289 322 273 333 Weighted-average dilutive shares 53,381 53,361 53,362 53,369 Basic earnings per share $ 0.19 $ 0.44 $ 0.66 $ 0.95 Diluted earnings per share $ 0.19 $ 0.43 $ 0.66 $ 0.95

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Basis of Presentation [Abstract]
DebtIssuanceCostsNet	$ 11	$ 12.5
SecuredDebtIssuanceCostsNet	5.1	6
Reclassification (Details) [Abstract]
SeniorNotesIssuanceCostsNet	$ 5.9	$ 6.5

Senior Debt (Details)

Senior Debt (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Senior Debt (Table Details) [Abstract]
Initial Borrowing in Term Loans	$ 225,000,000
Initial Borrowing in Revolving Debt	$ 100,000,000
Event of default-3rd party ownership % of our voting stock	35.00%
Event of default-not satisfied or bonded judgment in excess of	$ 50,000,000
Maximum period allowed for pending judgment to satisfy or bond (in days)	30
Interest Rate [Abstract]
Interest rate terms	Borrowings under the Revolving Facility bear interest at varying rates equal to either the Eurodollar rate plus 1.50% to 2.75% , or the prime rate plus 0.50% to 1.75% (ABR), at our election.
Financial Covenants Ratios (Table Details) [Abstract]
Required consolidated total leverage ratio, maximum	4.25
Actual consolidated total leverage ratio	2.37
Required consolidated senior secured leverage ratio, maximum	2.75
Actual consolidated senior secured leverage ratio	0.46
Required consolidated fixed charge coverage ratio, minimum	1.75
Actual consolidated fixed charge coverage ratio	1.83
Covenants [Abstract]
Covenants for senior credit facilities - amount available under restricted payment basket	$ 20,000,000
Outstanding indebtedness less cash in excess of	25,000,000
Consolidated funded debt outstanding	672,500,000
Consolidated EBITDA		$ 284,100,000
Consolidated senior secured debt outstanding	129,800,000
Adjusted consolidated EBITDA		520,500,000
Consolidated fixed charges		$ 284,300,000
Senior credit facilities, maximum amount	900,000,000
Senior credit facilities, additional amount allowed	250,000,000
Mandatory Excess Cash Flow Pre-Payment	27,000,000
Term loan, maximum facility	225,000,000
Term loan, amount outstanding	192,900,000		$ 221,100,000
Revolving facility, maximum facility	675,000,000
Revolving facility, amount outstanding			190,000,000
Letters of credit, amount outstanding	94,700,000
Letters of credit, amount available	580,300,000
Unsecured line of credit, maximum facility	20,000,000
Unsecured line of credit, amount outstanding	$ 0		$ 14,600,000
Commitment fee percentage	0.45%
Maturities of Long-term Debt [Abstract]
2,015	$ 1,125,000
2,016	2,250,000
2,017	2,250,000
2,018	2,250,000
2,019	2,250,000
Thereafter	182,813,000
Secured Debt	$ 192,938,000
Minimum [Member]
Covenants [Abstract]
Commitment fee percentage	0.30%
Maximum [Member]
Covenants [Abstract]
Commitment fee percentage	0.50%
Prime Rate [Member]
Covenants [Abstract]
Description of variable rate basis	prime
Eurodollar [Member]
Covenants [Abstract]
Description of variable rate basis	Eurodollar rate
Line of Credit [Member]
Covenants [Abstract]
Maturity date	Aug. 21, 2016
Unsecured line of credit, amount outstanding	$ 0
Maturities of Long-term Debt [Abstract]
2,015	0
2,016	0
2,017	0
2,018	0
2,019	0
Thereafter	$ 0
Revolving Credit Facility [Member]
Covenants [Abstract]
Maturity date	Mar. 19, 2019
Revolving facility, amount outstanding	$ 0
Maturities of Long-term Debt [Abstract]
2,015	0
2,016	0
2,017	0
2,018	0
2,019	0
Thereafter	$ 0
Revolving Credit Facility [Member] | Prime Rate [Member]
Covenants [Abstract]
Margin on Prime Rate, actual	1.25%
Revolving Credit Facility [Member] | Prime Rate [Member] | Minimum [Member]
Covenants [Abstract]
Basis margin on variable rate	0.50%
Revolving Credit Facility [Member] | Prime Rate [Member] | Maximum [Member]
Covenants [Abstract]
Basis margin on variable rate	1.75%
Revolving Credit Facility [Member] | Eurodollar [Member]
Covenants [Abstract]
Margin on Eurodollar rate, actual	2.25%
Revolving Credit Facility [Member] | Eurodollar [Member] | Minimum [Member]
Covenants [Abstract]
Basis margin on variable rate	1.50%
Revolving Credit Facility [Member] | Eurodollar [Member] | Maximum [Member]
Covenants [Abstract]
Basis margin on variable rate	2.75%
Term Loan [Member]
Covenants [Abstract]
Maturity date	Mar. 19, 2021
Margin on Eurodollar rate, actual	3.00%
Margin on Prime Rate, actual	2.00%
Term loan, amount outstanding	$ 192,938,000
Term Loan, Periodic Payment, Principal	$ 562,500
Term Loan, Frequency of Periodic Payment	quarterly
Maturities of Long-term Debt [Abstract]
2,015	$ 1,125,000
2,016	2,250,000
2,017	2,250,000
2,018	2,250,000
2,019	2,250,000
Thereafter	$ 182,813,000

Subsidiary Guarantors - Senio23

Subsidiary Guarantors - Senior Notes (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Senior Notes [Line Items]
Carrying value of senior notes	$ 542,740	$ 542,740
Covenant for Debt Basket Available Under Senior Notes	20,000
Event of default for senior notes - failure of other debt payment at maturity in excess of this amount	$ 50,000
Our ownership percentage of subsidiary guarantors of senior notes	100.00%
Event of default for senior notes - not discharged, bonded or insured judgment in excess of this amount	$ 50,000
Senior Notes Due 2021 [Member]
Senior Notes [Line Items]
Carrying value of senior notes	250,000	250,000
Unamortized Debt Issuance Expense	$ 3,100	3,400
Interest rate of senior notes	4.75%
Portion of proceeds from senior notes used to repurchase shares of common stock	$ 200,000
Percentage of original aggregate principle amount of senior notes included in repurchase price at change of control	101.00%
Senior Notes Due 2021 [Member] | Senior Notes, Redemption, Period One [Member]
Senior Notes [Line Items]
Senior notes, redemption price, percentage	103.563%
Senior Notes Due 2021 [Member] | Senior Notes, Redemption, Period Four [Member]
Senior Notes [Line Items]
Senior notes, redemption price, percentage	100.00%
Senior Notes Due 2020 [Member]
Senior Notes [Line Items]
Initial Borrowing in Senior Notes	$ 300,000
Carrying value of senior notes	292,740	292,740
Unamortized Debt Issuance Expense	$ 2,800	$ 3,100
Interest rate of senior notes	6.625%
Portion of proceeds from senior notes used to repay outstanding term debt	$ 200,000
Percentage of original aggregate principle amount of senior notes included in repurchase price at change of control	101.00%
Senior Notes Due 2020 [Member] | Senior Notes, Redemption, Period One [Member]
Senior Notes [Line Items]
Senior notes, redemption price, percentage	103.313%
Senior Notes Due 2020 [Member] | Senior Notes, Redemption, Period Four [Member]
Senior Notes [Line Items]
Senior notes, redemption price, percentage	100.00%

Income Taxes (Details)

Income Taxes (Details)	Jun. 30, 2016
Income Tax Examination [Line Items]
Number of Issues in Disagreement with Case Law Applied by Internal Revenue Service	0

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of senior notes	$ 542,740	$ 542,740
Amount of difference between fair value and carrying value	(57,889)	(111,518)
Senior Notes Due 2020 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of senior notes	292,740	292,740
Amount of difference between fair value and carrying value	(17,564)	(44,643)
Senior Notes Due 2021 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of senior notes	250,000	250,000
Amount of difference between fair value and carrying value	(40,325)	(66,875)
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior notes	484,851	431,222
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Senior Notes Due 2020 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior notes	275,176	248,097
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Senior Notes Due 2021 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior notes	$ 209,675	$ 183,125

Other Charges - Operating Exp26

Other Charges - Operating Expenses (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Store Consolidation Plan - Number of Stores Closed	96
Restructuring charge, total	$ 18.8
Restructuring charge, future lease obligation	$ 15		$ 15
Gain (Loss) on Disposition of Business		$ 0.6
Sourcing and distribution start-up costs		1.7
u.s. core [Member]
Restructuring Cost and Reserve [Line Items]
Store Consolidation Plan - Number of Stores Closed	167
Mexico Store Consolidation Plan [Member] | Mexico [Member]
Restructuring Cost and Reserve [Line Items]
Store Consolidation Plan - Number of Stores Closed			14	34
Restructuring charge, total		$ 2.8		$ 3.1

Other Charges - Operating Exp27

Other Charges - Operating Expenses Restructuring charges (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Store Consolidation Plan - Number of Stores Closed	96
Start-up Costs		$ 1.7
Restructuring and Related Cost, Future Lease Obligation	$ 15		$ 15
Payments for Restructuring	1
Gain (Loss) on Disposition of Assets	2.6
Restructuring Charges	$ 18.8
u.s. core [Member]
Restructuring Cost and Reserve [Line Items]
Store Consolidation Plan - Number of Stores Closed	167
Mexico [Member] | Mexico Store Consolidation Plan [Member]
Restructuring Cost and Reserve [Line Items]
Store Consolidation Plan - Number of Stores Closed			14	34
Restructuring Charges		$ 2.8		$ 3.1

Other Charges - Operating Exp28

Other Charges - Operating Expenses Restructuring costs (Details) $ in Millions	3 Months Ended
	Jun. 30, 2016USD ($)
Restructuring and Related Costs, Incurred [Abstract]
Restructuring and Related Cost, Incurred Cost	$ 2.4

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 749,619	$ 815,343	$ 1,585,271	$ 1,692,982
Gross profit	500,158	538,529	1,035,102	1,103,122
Operating profit	27,550	49,701	75,980	106,299
Depreciation, amortization and write-down of intangibles	20,776	20,397	40,600	40,161
Capital expenditures	13,743	28,624	28,183	42,869
Rental merchandise on rent, net	780,934		780,934		$ 907,625
Rental merchandise held for rent, net	225,350		225,350		228,847
Assets	1,756,242		1,756,242		1,974,468
Core U.S. [Member]
Segment Reporting Information [Line Items]
Revenues	530,612	593,496	1,114,977	1,222,699
Gross profit	383,129	421,610	795,018	862,750
Operating profit	38,715	66,698	100,951	134,271
Depreciation, amortization and write-down of intangibles	10,563	13,084	21,455	25,759
Capital expenditures	3,456	5,435	7,227	6,249
Rental merchandise on rent, net	442,103		442,103		540,004
Rental merchandise held for rent, net	211,011		211,011		215,327
Assets	1,031,773		1,031,773		1,240,593
Acceptance Now [Member]
Segment Reporting Information [Line Items]
Revenues	199,516	200,464	429,912	424,741
Gross profit	105,352	103,896	216,494	213,060
Operating profit	27,547	31,696	56,916	66,228
Depreciation, amortization and write-down of intangibles	828	799	1,665	1,552
Capital expenditures	305	545	597	828
Rental merchandise on rent, net	323,618		323,618		350,046
Rental merchandise held for rent, net	5,915		5,915		5,000
Assets	400,161		400,161		426,827
Mexico [Member]
Segment Reporting Information [Line Items]
Revenues	13,311	16,337	27,060	34,271
Gross profit	9,254	10,908	18,581	23,021
Operating profit	572	(7,179)	(2,038)	(10,633)
Depreciation, amortization and write-down of intangibles	864	1,412	1,803	2,886
Capital expenditures	76	10	223	118
Rental merchandise on rent, net	15,213		15,213		17,575
Rental merchandise held for rent, net	8,424		8,424		8,520
Assets	35,399		35,399		38,898
Franchising [Member]
Segment Reporting Information [Line Items]
Revenues	6,180	5,046	13,322	11,271
Gross profit	2,423	2,115	5,009	4,291
Operating profit	1,425	991	2,838	2,207
Depreciation, amortization and write-down of intangibles	44	46	89	95
Assets	2,619		2,619		2,723
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating profit	68,259	92,206	158,667	192,073
Depreciation, amortization and write-down of intangibles	12,299	15,341	25,012	30,292
Capital expenditures	3,837	5,990	8,047	7,195
Assets	1,469,952		1,469,952		1,709,041
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating profit	(40,709)	(42,505)	(82,687)	(85,774)
Depreciation, amortization and write-down of intangibles	8,477	5,056	15,588	9,869
Capital expenditures	9,906	$ 22,634	20,136	$ 35,674
Assets	$ 286,290		$ 286,290		$ 265,427

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 2,462	$ 2,823	$ 4,814	$ 4,986
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			827,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Based, Grants in Period			622,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			424,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum			35.88%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum			42.19%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum			1.14%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum			1.85%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate, Minimum			2.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate, Maximum			6.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Minimum			3 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Maximum			5 years 9 months
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 11.62
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			2.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 9.14
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used			Black-Scholes
Performance-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used			Monte Carlo

Contingencies (Details)

Contingencies (Details) $ in Millions	Jun. 30, 2016USD ($)
Guarantor Obligations [Line Items]
Maximum financing amount	$ 47
Amount outstanding	8.3
Citibank [Member]
Guarantor Obligations [Line Items]
Maximum financing amount	27
Texas Capital Bank [Member]
Guarantor Obligations [Line Items]
Maximum financing amount	$ 20

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net earnings (loss)	$ 9,946	$ 23,147	$ 35,007	$ 50,445
Basic weighted average shares	53,092,000	53,039,000	53,089,000	53,036,000
Basic earnings (loss) per common share	$ 0.19	$ 0.44	$ 0.66	$ 0.95
Effect of dilutive stock options	289,000	322,000	273,000	333,000
Diluted weighted average shares		53,361,000		53,369,000
Diluted earnings (loss) per common share	$ 0.19	$ 0.43	$ 0.66	$ 0.95
Earnings Per Share (Details) [Abstract]
Number of anti-dilutive stock awards	3,528,812	2,041,664