Upbound (UPBD) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document and Company Informatio

Document and Company Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document And Entity Information
Entity Registrant Name	RENT A CENTER INC DE
Entity Central Index Key	0000933036
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	RCII
Amendment Flag	false
Entity Common Stock, Shares Outstanding		54,061,547
Entity Current Reporting Status	Yes

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Store
Rentals and fees	$ 563,354	$ 564,714
Merchandise sales	104,470	107,356
Installment sales	15,436	16,404
Other	664	2,584
Total store revenues	683,924	691,058
Franchise
Merchandise sales	8,456	3,634
Royalty income and fees	4,314	3,351
Total revenues	696,694	698,043
Store
Cost of rentals and fees	155,372	156,095
Cost of merchandise sold	103,391	96,353
Cost of installment sales	4,924	5,242
Total cost of store revenues	263,687	257,690
Franchise
Franchise cost of merchandise sold	8,141	3,375
Total cost of revenues	271,828	261,065
Gross profit	424,866	436,978
Operating expenses
Labor	161,656	181,074
Other store expenses	163,794	185,949
General and administrative expenses	32,924	44,870
Depreciation, amortization and impairment of intangibles	15,773	17,900
Other charges	33,370	17,455
Total operating expenses	407,517	447,248
Operating profit (loss)	17,349	(10,270)
Interest expense	9,389	11,360
Interest income	(874)	(209)
Earnings (loss) before income taxes	8,834	(21,421)
Income tax expense (benefit)	1,511	(1,578)
Net earnings (loss)	$ 7,323	$ (19,843)
Basic earnings (loss) per common share	$ 0.14	$ (0.37)
Diluted earnings (loss) per common share	$ 0.13	$ (0.37)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net earnings (loss)	$ 7,323	$ (19,843)
Foreign currency translation adjustments, net of tax of $138 and $438 for the three months ended 2019 and 2018, respectively	521	1,648
Total other comprehensive income	521	1,648
Comprehensive income (loss)	$ 7,844	$ (18,195)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Foreign currency translation tax adjustment	$ 138	$ 438

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 237,744	$ 155,391
Receivables, net of allowance for doubtful accounts of $4,468 and $4,883 in 2019 and 2018, respectively	63,761	69,645
Prepaid expenses and other assets	39,885	51,352
Rental merchandise, net
On rent	647,536	683,808
Held for rent	120,385	123,662
Merchandise held for installment sale	3,662	3,834
Property assets, net of accumulated depreciation of $548,549 and $551,750 in 2019 and 2018, respectively	211,898	226,323
Operating lease right-of-use assets	273,833	0
Deferred tax asset	25,568	25,558
Goodwill	56,815	56,845
Other intangible assets, net	329	499
Total Assets	1,681,416	1,396,917
LIABILITIES
Accounts payable - trade	118,904	113,838
Accrued liabilities	326,660	337,459
Operating lease liabilities	284,488	0
Deferred tax liability	116,755	119,061
Senior notes, net	540,357	540,042
Total Liabilities	1,387,164	1,110,400
STOCKHOLDERS' EQUITY
Common stock, $.01 par value; 250,000,000 shares authorized; 110,412,469 and 109,909,504 shares issued in 2019 and 2018, respectively	1,104	1,099
Additional paid-in capital	840,298	838,436
Retained earnings	811,271	805,924
Treasury stock at cost, 56,369,752 shares in 2019 and 2018	(1,347,677)	(1,347,677)
Accumulated other comprehensive loss	(10,744)	(11,265)
Total Stockholders' Equity	294,252	286,517
Total Liabilities and Stockholders' Equity	$ 1,681,416	$ 1,396,917

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4,468	$ 4,883
Property assets, accumulated depreciation	$ 548,549	$ 551,750
Common stock - par value	$ 0.01	$ 0.01
Common stock - shares authorized	250,000,000	250,000,000
Common stock - shares issued	110,412,469	109,909,504
Treasury stock - shares at cost	56,369,752	56,369,752

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other comprehensive Income (Loss) [Member]
Common stock, shares, outstanding		109,910
Total Stockholders' Equity	$ 286,517	$ 1,099	$ 838,436	$ 805,924	$ (1,347,677)	$ (11,265)
Net earnings (loss)	7,323	0	0	7,323	0	0
Foreign currency translation adjustments, net of tax of $138 and $438 for the three months ended 2019 and 2018, respectively	521	$ 0	0	0	0	521
Exercise of stock options, shares		284
Exercise of stock options	2,892	$ 3	2,889	0	0	0
Vesting of restricted share units, shares		218
Vesting of restricted share units	0	$ 2	(2)	0	0	0
Shares withheld for employee taxes on awards vested & exercised	(1,734)	0	(1,734)	0	0	0
Stock-based compensation	709	$ 0	709	0	0	0
Common stock, shares, outstanding		110,412
Total Stockholders' Equity	294,252	$ 1,104	840,298	811,271	(1,347,677)	(10,744)
ASC 842 adoption	$ (1,976)	$ 0	$ 0	$ (1,976)	$ 0	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net earnings (loss)	$ 7,323	$ (19,843)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities
Depreciation of rental merchandise	155,111	154,131
Bad debt expense	2,942	3,437
Stock-based compensation expense	709	1,862
Depreciation of property assets	15,693	17,742
Loss on sale or disposal of property assets	1,341	1,913
Amortization and impairment of intangibles	79	157
Amortization of financing fees	973	1,343
Amortization of right-of-use operating lease assets	26,824	0
Deferred income taxes	(1,913)	(1,267)
Changes in operating assets and liabilities, net of effects of acquisitions
Rental merchandise	(123,966)	(103,439)
Receivables	2,942	1,563
Prepaid expenses and other assets	11,588	(2,941)
Accounts payable - trade	5,066	498
Operating lease liabilities	(25,316)	0
Accrued liabilities	(3,621)	29,321
Net cash provided by operating activities	75,775	84,477
Cash flows from investing activities
Purchase of property assets	(2,508)	(8,649)
Proceeds from sale of property assets	8,475	9,463
Acquisitions of businesses	0	(440)
Net cash provided by investing activities	5,967	374
Cash flows from financing activities
Exercise of stock options	2,892	375
Shares withheld for payment of employee tax withholdings	(2,330)	(205)
Debt issuance costs	157	0
Proceeds from debt	5,400	26,850
Repayments of debt	(5,400)	(104,448)
Net cash provided by (used in) financing activities	405	(77,428)
Effect of exchange rate changes on cash	206	1,002
Net increase in cash and cash equivalents	82,353	8,425
Cash and cash equivalents at beginning of period	155,391	72,968
Cash and cash equivalents at end of period	$ 237,744	$ 81,393

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Basis of Presentation [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed 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, 2018 . 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 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, which operates in the United States and Puerto Rico, 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 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. 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. Newly Adopted Accounting Pronouncements 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 of 12 months or less) 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 use 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. Adoption under ASU 2016-02 requires the use of a modified retrospective transition method to measure leases at the beginning of the earliest period presented in the consolidated financial statements. In July 2018, the FASB issued ASU 2018-11, allowing companies to apply a transition method for adoption of the new standard as of the adoption date, with recognition of any cumulative-effects as adjustments to the opening balance of retained earnings in the period of adoption. We adopted these ASU's beginning January 1, 2019 and elected the transition method under ASU 2018-11. The company's rent-to-own agreements which comprise the majority of our annual revenue fall within the scope of ASU 2016-02 under lessor accounting, however, the new standard does not significantly affect the timing of recognition or presentation of revenue for our rental contracts. As a lessee, the new standard affected a substantial portion of our lease contracts. As of March 31, 2019 , we have $273.8 million operating lease right-of-use assets and $284.5 million operating lease liabilities in our condensed consolidated balance sheet. Upon adoption we identified impairment losses related to closure of our product service centers and Core U.S. stores resulting in a cumulative-effect decrease of $2.0 million , net of tax, to our January 1, 2019 retained earnings balance. There were no significant affects to our condensed consolidated statements of operations or condensed consolidated statements of cash flows. We elected a package of optional practical expedients in our adoption of the new standard, including the option to retain the current classification for leases entered into prior to the date of adoption; the option not to reassess initial direct costs for capitalization for leases entered into prior to the date of adoption; and the option not to separate lease and non-lease components for our rent-to-own agreements as a lessor, and our real estate, and certain equipment leases as a lessee. In conjunction with the adoption of the new lease accounting standard, we implemented a new back-office lease administration and accounting system to support the new accounting and disclosure requirements as a lessee. In addition, we implemented changes to our previous accounting policies, processes, and internal controls to ensure compliance with the new standard. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which allows a company to reclassify to retained earnings the disproportionate income tax effects of the Tax Act on items with accumulated other comprehensive income that the FASB refers to as having been stranded in accumulated other comprehensive income. The adoption of ASU 2018-02 was required for us beginning January 1, 2019. We do not exercise the option to reclassify stranded tax effects within accumulated other comprehensive income in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act (or portion thereof) is recorded.

Revenues Revenues (Notes)

Revenues Revenues (Notes)	3 Months Ended
	Mar. 31, 2019
Revenues [Abstract]
Revenues [Text Block]	Revenues The following table disaggregates our revenue for the periods ended March 31, 2019 : Three Months Ended March 31, 2019 Core U.S. Acceptance Now Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 407,580 $ 143,193 $ 12,581 $ — $ 563,354 Merchandise sales 50,558 53,156 756 — 104,470 Installment sales 15,436 — — — 15,436 Other 483 173 8 — 664 Total store revenues 474,057 196,522 13,345 — 683,924 Franchise Merchandise sales — — — 8,456 8,456 Royalty income and fees — — — 4,314 4,314 Total revenues $ 474,057 $ 196,522 $ 13,345 $ 12,770 $ 696,694 Three Months Ended March 31, 2018 Core U.S. Acceptance Now Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 412,642 $ 140,824 $ 11,248 $ — $ 564,714 Merchandise sales 50,584 56,006 766 — 107,356 Installment sales 16,404 — — — 16,404 Other 2,411 156 17 — 2,584 Total store revenues 482,041 196,986 12,031 — 691,058 Franchise Merchandise sales — — — 3,634 3,634 Royalty income and fees — — — 3,351 3,351 Total revenues $ 482,041 $ 196,986 $ 12,031 $ 6,985 $ 698,043 Rental-Purchase Agreements Core U.S., Acceptance Now, and Mexico Rentals and Fees. Merchandise is leased to customers pursuant to rental purchase agreements which provide for weekly, semi-monthly or monthly rental terms with non-refundable rental payments. At the expiration of each rental term customers renew the rental agreement by pre-paying for the next rental term. Generally, the customer has the right to acquire title of the merchandise either through a purchase option or through payment of all required rental terms. Customers can terminate the agreement at the end of any rental term without penalty. Therefore rental transactions are accounted for as operating leases and rental revenue is recognized over the rental term. Cash received for rental payments, including processing fees, prior to the period in which it should be recognized is deferred and recognized according to the rental term. Revenue related to various payment, reinstatement or late fees are recognized when paid by the customer at the point service is provided. Rental merchandise is depreciated using the income forecasting method and is recognized in cost of sales over the rental term. We offer additional product plans along with our rental agreements which provide customers with liability protection against significant damage or loss of a product, and club membership benefits, including various discount programs and product service and replacement benefits in the event merchandise is damaged or lost. Customers renew product plans in conjunction with their rental term renewals, and can cancel the plans at any time. Revenue for product plans is recognized over the term of the plan. Costs incurred related to product plans are primarily recognized in cost of sales. At March 31, 2019 and December 31, 2018 , we had $44.7 million and $42.1 million , respectively, in deferred revenue included in accrued liabilities related to our rental purchase agreements. Revenue from contracts with customers Core U.S., Acceptance Now, and Mexico Merchandise Sales. Merchandise sales include payments received for the exercise of the early purchase option offered through our rental purchase agreements or merchandise sold through point of sale transactions. Revenue for merchandise sales is recognized when payment is received and ownership of the merchandise passes to the customer. The remaining net value of merchandise sold is recorded to cost of sales at the time of the transaction. Installment Sales. Revenue from the sale of merchandise in our retail installment stores is recognized when the installment note is signed and control of the merchandise has passed to the customer. The cost of merchandise sold through installment agreements is recognized in cost of sales at the time of the transaction. We offer extended service plans with our installment agreements which are administered by third parties and provide customers with product service maintenance beyond the term of the installment agreement. Payments received for extended service plans are deferred and recognized, net of related costs, when the installment payment plan is complete and the service plan goes into effect. Customers can cancel extended service plans at any time during the installment agreement and receive a refund for payments previously made towards the plan. At March 31, 2019 and December 31, 2018 , we had $2.8 million and $3.0 million , respectively, in deferred revenue included in accrued liabilities related to extended service plans. Other. Other revenue primarily consists of external maintenance and repair services provided by the Company’s service department, in addition to other miscellaneous product plans offered to our rental and installment customers. The Company’s service department is a licensed warranty service provider and performs service maintenance and merchandise repair for qualified warranty guarantees, on behalf of merchandise vendors. In addition, we provide external maintenance and repair services for our franchisees, and other external businesses and individual customers. Revenue for warranty services is recognized when service is complete and a claim has been submitted to the original vendor issuing the warranty guarantee. Revenue for external repair and maintenance services are recognized when services provided are complete and the customer has been billed. Costs incurred for repair services are recognized as incurred in labor and other store expenses. We completed the shut down of our service department operations early in the first quarter of 2019. Revenue for other product plans is recognized in accordance with the terms of the applicable plan agreement. Franchising Merchandise Sales. Revenue from the sale of rental merchandise is recognized upon shipment of the merchandise to the franchisee. Royalty Income and Fees. Franchise royalties, including franchisee contributions to corporate advertising funds, represent sales-based royalties calculated as a percentage of gross rental payments and sales. Royalty revenue is recognized as rental payments and sales occur. Franchise fees are initial fees charged to franchisees for new or converted franchise stores. Franchise fee revenue is recognized on a straight-line basis over the term of the franchise agreement. At March 31, 2019 and December 31, 2018 , we had $4.3 million and $4.1 million , respectively, in deferred revenue included in accrued liabilities related to franchise fees.

Receivables and Allowance for D

Receivables and Allowance for Doubtful Accounts Receivables and Allowance for Doubtful Accounts (Notes)	3 Months Ended
	Mar. 31, 2019
Receivables and Allowance for Doubtful Accounts [Abstract]
Receivables and Allowance for Doubtful Accounts [Text Block]	Receivables and Allowance for Doubtful Accounts Receivables consist of the following: (In thousands) March 31, 2019 December 31, 2018 Installment sales receivable $ 51,534 $ 54,746 Trade and notes receivables 16,695 19,782 Total receivables 68,229 74,528 Less allowance for doubtful accounts (4,468 ) (4,883 ) Total receivables, net of allowance for doubtful accounts $ 63,761 $ 69,645 The allowance for doubtful accounts related to installment sales receivable was $3.1 million and $3.6 million at March 31, 2019 and December 31, 2018 , respectively. The allowance for doubtful accounts related to trade and notes receivable was $1.4 million and $1.3 million at March 31, 2019 and December 31, 2018 , respectively. Changes in our allowance for doubtful accounts are as follows: (In thousands) March 31, 2019 Beginning allowance for doubtful accounts $ 4,883 Bad debt expense 2,942 Accounts written off (3,544 ) Recoveries 187 Ending allowance for doubtful accounts $ 4,468

Leases Leases (Notes)

Leases Leases (Notes)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases [Text Block]	Leases We lease space for all of our Core U.S. and Mexico stores under operating leases expiring at various times through 2024 . Most of our store leases are five year leases and contain renewal options for additional periods ranging from three to five years at rental rates adjusted according to agreed-upon formulas. We evaluate all leases to determine if it is likely that we will exercise future renewal options and in most cases we are not reasonably certain of exercise due to competing market rental rates and lack of significant penalty or business disruption incurred by not exercising the renewal options. We have elected not to use the short-term lease exemption for our real estate leases. Therefore, we include month-to-month leases in operating lease right-of-use assets and operating lease liabilities on our condensed consolidated balance sheet. In certain store sales, we enter into lease assignment agreements with the buyer, but remain as the primary obligor under the original lease for the remaining active term. These leases are therefore classified as subleases and included in our operating lease right-of-use assets and operating lease liabilities on our condensed consolidated balance sheet. We lease vehicles for all of our Core U.S. stores under operating leases with lease terms expiring twelve months after the start date of the lease. We classify these leases as short-term and have elected the short-term lease exemption for our vehicle leases, and have therefore excluded from our operating lease right-of-use assets within our condensed consolidated balance sheet. We also lease vehicles for all of our Mexico stores which have terms expiring at various times through 2022 with rental rates adjusted periodically for inflation. Finally, we have a minimal number of equipment leases, primarily related to temporary storage and certain back office technology hardware assets. For all of the leases described above, we have elected to use the practical expedient not to separate the lease and non-lease components and account for these as a single component. We have also elected the practical expedients that remove the requirement to reassess whether expired or existing contracts contain leases and the requirement to reassess the lease classification for any existing leases prior to the adoption date. Operating lease right-of-use assets and operating lease liabilities are discounted using our incremental borrowing rate, since the implicit rate is not readily determinable. We do not currently have any financing leases. Operating lease costs are recorded on a straight-line basis within other store expenses in our condensed consolidated statements of operations. Total operating lease costs by expense type: Three Months Ended (in thousands) March 31, 2019 Operating lease cost included in other store expenses (1) $ 36,553 Operating lease cost included in other charges 2,141 Sublease receipts (1,676 ) Total operating lease charges $ 37,018 (1) Includes short-term and variable lease costs, which are not significant. Supplemental cash flow information related to leases: Three Months Ended (in thousands) March 31, 2019 Cash paid for amounts included in measurement of operating lease liabilities $ 30,077 Cash paid for short-term operating leases not included in operating lease liabilities 6,941 Right-of-use assets obtained in exchange for new operating lease liabilities 3,927 Weighted-average discount rate and weighted-average remaining lease term: (in thousands) March 31, 2019 Weighted-average discount rate (1) 7.9 % Weighted-average remaining lease term (in years) 3 (1) January 1, 2019 borrowing rate was used for leases in existence at the time of adoption of ASU 2016-02. Reconciliation of undiscounted operating lease liabilities to the present value operating lease liabilities at March 31, 2019 : (In thousands) Operating Leases 2019 $ 91,427 2020 100,444 2021 68,804 2022 40,369 2023 16,712 Thereafter 3,194 Total undiscounted operating lease liabilities 320,950 Less: Interest (36,462 ) Total present value of operating lease liabilities $ 284,488 In accordance with ASC 840, future minimum rental payments for operating leases with remaining lease terms in excess of one year, at December 31, 2018 : (In thousands) Operating Leases 2019 $ 145,345 2020 116,785 2021 80,362 2022 47,417 2023 16,460 Thereafter 2,280 Total future minimum rental payments 408,649

Senior Debt

Senior Debt	3 Months Ended
	Mar. 31, 2019
Senior Debt [Abstract]
Senior Debt	Senior Debt We are party to a Credit Agreement with BBVA Compass Bank, HSBC, and SunTrust Bank, as syndication agents, JPMorgan Chase Bank, N.A., as administrative agent (the "Agent"), and the several lenders from time to time parties thereto, dated March 19, 2014, as amended on February 1, 2016, September 30, 2016, March 31, 2017, June 6, 2017, and December 12, 2018 (the “Fifth Amendment”) and as so amended, (the "Credit Agreement"). The Credit Agreement currently provides a senior credit facility consisting of a $200 million revolving credit facility (the "Revolving Facility"). There were no outstanding borrowings under the Revolving Facility at March 31, 2019 or December 31, 2018 . Total unamortized debt issuance costs reported in the Condensed Consolidated Balance Sheet at March 31, 2019 and December 31, 2018 were $2.1 million and $2.6 million , respectively. The Revolving Facility has a scheduled maturity of December 31, 2019 . We also utilize the Revolving Facility for the issuance of letters of credit. As of March 31, 2019 , we have issued letters of credit in the aggregate amount of $92 million . Borrowings under the Revolving Facility bear interest at varying rates equal to either the Eurodollar rate plus 1.50% to 3.00% , or the prime rate plus 0.50% to 2.00% (ABR), at our election. The margins on the Eurodollar loans and on the ABR loans for borrowings under the Revolving Facility, which were 2.00% and 1.00% , respectively, at March 31, 2019 , 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. A commitment fee equal to 0.30% to 0.50% of the unused portion of the Revolving Facility is payable quarterly. The commitment fee fluctuates dependent upon increases or decreases in our Consolidated Total Leverage Ratio as of the end of the previous quarter. The commitment fee for the first quarter of 2019 was $0.7 million , equal to 0.40% of the unused portion of the Revolving Facility based on our Total Leverage Ratio as of December 31, 2018. The aggregate outstanding amounts (including after any draw request) under the Revolving Facility may not exceed the Borrowing Base. The Borrowing Base is tied to the Eligible Installment Sales Accounts, Inventory and Eligible Rental Contracts, reduced by Reserves, as defined in the Credit Agreement. We provide to the Agent information necessary to calculate the Borrowing Base within 30 days of the end of each calendar month, unless liquidity is less than 20% of the maximum borrowing capacity of the Revolving Facility or $40 million, in which case we must provide weekly information. 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. 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; • pay cash dividends in excess of $15 million annually when the Consolidated Total Leverage Ratio is greater than 3:75:1; • incur liens or other encumbrances; • merge, consolidate or sell substantially all property or business; • sell, lease or otherwise transfer assets (if not in the ordinary course of business, limited in any fiscal year to an amount equal to 5% of Consolidated Total Assets as of the last day of the immediately preceding fiscal year); • make investments or acquisitions (unless they meet financial tests and other requirements); or • enter into an unrelated line of business; • guarantee obligations of Foreign Subsidiaries in excess of $10 million at any time; and • exceed an aggregate outstanding amount of $10 million in indebtedness, including Capital Lease Obligations, mortgage financings and purchase money obligations that are secured by Liens permitted under the Credit Agreement. In addition, we are prohibited from repurchasing our common stock or 6.625% and 4.75% Senior Notes for the remaining term of the Credit Agreement. The Credit Agreement permits us to increase the amount of the Revolving Facility from time to time on up to three occasions, in an aggregate amount of no more than $100 million . We may request an Incremental Revolving Loan, provided that at the time of such request, we are not in default, have obtained the consent of the administrative agent and the lenders providing such increase, and after giving effect thereto, (i) the Consolidated Fixed Charge Coverage Ratio on a pro forma basis is no less than 1.10:1, (ii) the Total Revolving Extensions of Credit do not exceed the Borrowing Base, and (iii) if the request occurs during a Minimum Availability Period, the Availability must be more than the Availability Threshold Amount. The Credit Agreement permits the Agent, in its sole discretion, to make loans to us that it deems necessary or desirable (i) to preserve or protect the Collateral, (ii) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or (iii) to pay any other amount chargeable to or required to be paid by us pursuant to the terms of the Credit Agreement. The aggregate amount of such Protective Advances outstanding at any time may not exceed $35 million. In connection with entering into the Fifth Amendment to the Credit Agreement, we recorded a write-down of previously unamortized debt issuance costs of approximately $0.5 million in the fourth quarter of 2018. In addition, we paid arrangement and amendment fees to the Agent and the lenders that provided their consent to the Amendment of approximately $2.1 million , which were capitalized in the fourth quarter of 2018 and will be amortized to interest expense over the remaining term of the agreement. The Credit Agreement requires us to comply with a Consolidated Fixed Charge Coverage ratio of no less than 1.10:1. Breach of this covenant shall result in a Minimum Availability Period, which requires us to maintain $50.0 million of excess availability on the Revolving Facility. The table below shows the required and actual ratios under the Credit Agreement calculated as of March 31, 2019 : Required Ratio Actual Ratio Consolidated Fixed Charge Coverage Ratio No less than 1.10:1 5.13:1 The actual Consolidated Fixed Charge Coverage ratio was calculated pursuant to the Credit Agreement by dividing the sum of consolidated EBITDA minus Unfinanced Capital Expenditures minus the excess (to the extent positive) of (i) expenses for income taxes paid in cash minus (ii) cash income tax refunds received for the 12-month period ending March 31, 2019 ( $204.0 million ), by consolidated fixed charges for the 12-month period ending March 31, 2019 ( $39.7 million ). For purposes of the calculation, “consolidated fixed charges” is defined as the sum of consolidated interest expense and scheduled principal payments on indebtedness actually made during such period. The actual Consolidated Fixed Charge Coverage Ratio of 5.13 :1 as of March 31, 2019 was above the minimum requirement of 1.10 :1 under the Credit Agreement. Availability under our Revolving Facility was $95.1 million at March 31, 2019 . 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 a majority of Rent-A-Center’s Board of Directors are not Continuing Directors (all of the current members of our Board of Directors are Continuing Directors under the terms of the Credit Agreement). 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. In addition to the Revolving Facility discussed above, we maintain a $12.5 million unsecured, revolving line of credit with INTRUST Bank, N.A. to facilitate cash management. As of March 31, 2019 and December 31, 2018 , we had no outstanding borrowings against this line of credit. Liquidity As described above, our Revolving Facility is scheduled to mature in December 2019. Our primary liquidity requirements are for rental merchandise purchases. Other capital requirements include expenditures for property assets and debt service. Our primary sources of liquidity have been cash provided by operations. 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. We believe cash flow generated from operations, together with availability under our Credit Agreement for the remainder of its term, will be sufficient to fund our operations during the next 12 months.

Senior Notes

Senior Notes	3 Months Ended
	Mar. 31, 2019
Subsidiary Guarantors - Senior Notes [Abstract]
Senior Notes	Senior Notes On November 2, 2010, we issued $300 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 March 31, 2019 and December 31, 2018 , was $292.7 million , reduced by $1.0 million and $1.2 million of unamortized issuance costs, respectively. On May 2, 2013, we issued $250 million in senior unsecured notes due May 2021, bearing interest at 4.75%, 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 4.75% notes outstanding as of March 31, 2019 and December 31, 2018 , was $250.0 million , reduced by $1.3 million and $1.5 million of unamortized issuance costs, respectively. The indentures governing the 6.625% notes and the 4.75% 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 2.50:1 (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 current premium is 100.000% ). 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 4.75% 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 current premium is 100.000% ). The 4.75% notes may be redeemed on or after May 1, 2019, at our option, in whole or in part, at par. The 4.75% 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 4.75% 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 4.75% 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	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value	Fair Value We follow 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 March 31, 2019 , our financial instruments include cash and cash equivalents, receivables, payables and senior notes. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value at March 31, 2019 and December 31, 2018 , because of the short maturities of these instruments. The fair value of our senior notes is based on Level 1 inputs and was as follows at March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 (in thousands) Carrying Value Fair Value Difference Carrying Value Fair Value Difference 6.625% senior notes $ 292,740 $ 292,740 $ — $ 292,740 $ 285,509 $ (7,231 ) 4.75% senior notes 250,000 244,000 (6,000 ) 250,000 239,050 (10,950 ) Total senior notes $ 542,740 $ 536,740 $ (6,000 ) $ 542,740 $ 524,559 $ (18,181 )

Other Charges

Other Charges	3 Months Ended
	Mar. 31, 2019
Restructuring Costs and Asset Impairment Charges [Abstract]
Other Charges	Other Charges Cost Savings Initiatives. During 2018, we began execution of multiple cost savings initiatives, including reductions in overhead and supply chain, resulting in pre-tax charges during the first quarter of 2019 consisting of $4.4 million in lease impairment charges, $3.0 million in severance and other payroll-related costs, $1.1 million in other miscellaneous shutdown costs, $0.2 million in disposal of fixed assets. Cost savings initiatives pre-tax charges during the first quarter of 2018 were $7.1 million in severance and other payroll-related costs, $1.9 million in legal and advisory fees, and $1.3 million in lease obligation costs. Store Consolidation Plan. During the first quarter of 2019, we closed 28 Core U.S. stores, resulting in pre-tax charges of $0.5 million in lease impairment charges, $0.5 million in other miscellaneous shutdown costs, and $0.3 million in disposal of fixed assets. During the first quarter of 2018, we closed 61 Core U.S. stores and 8 locations in Mexico, resulting in pre-tax charges of $4.6 million , consisting of $3.6 million in lease obligation costs, $0.8 million in disposal of fixed assets, and $0.2 million in other miscellaneous shutdown costs. Write-down of Capitalized Software. During the first quarter of 2018 we discontinued certain IT software projects and as a result incurred pre-tax charges of $1.9 million , related to the write-down of capitalized assets. Activity with respect to other charges for the three months ended March 31, 2019 is summarized in the below table: (in thousands) Accrued Charges at December 31, 2018 Charges & Adjustments Payments & Adjustments Accrued Charges at March 31, 2019 Cash charges: Labor reduction costs $ 7,623 $ 3,122 $ (6,420 ) $ 4,325 Lease obligation costs (1) 4,882 — (4,882 ) — Other miscellaneous — 1,609 (1,609 ) — Total cash charges $ 12,505 4,731 $ (12,911 ) $ 4,325 Non-cash charges: Asset impairments (2) 5,309 Other (3) 23,330 Total other charges $ 33,370 (1) Upon adoption of ASU 2016-02, previously accrued lease obligation costs related to discontinued operations were eliminated and are now reflected as an adjustment to our operating lease right-of-use assets in our Condensed Consolidated Balance Sheet. (2) Includes impairments of operating lease right-of-use assets and other property assets related to the closure of RTO stores and our product service centers in the first quarter. (3) Other primarily includes the Blair class action settlement (refer to Note 11 for additional details), and incremental legal and professional fees related to the merger termination.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
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. Our Core U.S. and Franchising segments also offer smartphones. Segment information for the three months ended March 31, 2019 and 2018 is as follows: Three Months Ended March 31, (in thousands) 2019 2018 Revenues Core U.S. $ 474,057 $ 482,041 Acceptance Now 196,522 196,986 Mexico 13,345 12,031 Franchising 12,770 6,985 Total revenues $ 696,694 $ 698,043 Three Months Ended March 31, (in thousands) 2019 2018 Gross profit Core U.S. $ 324,640 $ 336,241 Acceptance Now 86,328 88,805 Mexico 9,269 8,322 Franchising 4,629 3,610 Total gross profit $ 424,866 $ 436,978 Three Months Ended March 31, (in thousands) 2019 2018 Operating profit (loss) Core U.S. $ 53,311 $ 28,387 Acceptance Now 21,513 15,430 Mexico 1,219 497 Franchising 1,778 1,256 Total segments 77,821 45,570 Corporate (60,472 ) (55,840 ) Total operating profit (loss) $ 17,349 $ (10,270 ) Three Months Ended March 31, (in thousands) 2019 2018 Depreciation, amortization and impairment of intangibles Core U.S. $ 5,472 $ 6,826 Acceptance Now 348 435 Mexico 140 344 Franchising 30 44 Total segments 5,990 7,649 Corporate 9,783 10,251 Total depreciation, amortization and impairment of intangibles $ 15,773 $ 17,900 Three Months Ended March 31, (in thousands) 2019 2018 Capital expenditures Core U.S. $ 558 $ 4,890 Acceptance Now 47 45 Mexico 3 3 Total segments 608 4,938 Corporate 1,900 3,711 Total capital expenditures $ 2,508 $ 8,649 (in thousands) March 31, 2019 December 31, 2018 On rent rental merchandise, net Core U.S. $ 403,518 $ 424,829 Acceptance Now 228,248 242,978 Mexico 15,770 16,001 Total on rent rental merchandise, net $ 647,536 $ 683,808 (in thousands) March 31, 2019 December 31, 2018 Held for rent rental merchandise, net Core U.S. $ 114,220 $ 117,294 Acceptance Now 1,246 1,207 Mexico 4,919 5,161 Total held for rent rental merchandise, net $ 120,385 $ 123,662 (in thousands) March 31, 2019 December 31, 2018 Assets by segment Core U.S. $ 957,380 $ 714,914 Acceptance Now 292,032 312,151 Mexico 34,940 29,321 Franchising 6,367 4,287 Total segments 1,290,719 1,060,673 Corporate 390,697 336,244 Total assets $ 1,681,416 $ 1,396,917

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2019
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation We recognized $0.7 million and $1.9 million in pre-tax compensation expense related to stock options and restricted stock units during the three months ended March 31, 2019 and 2018 , respectively. Stock compensation expense recognized during the three months ended March 31, 2019 was impacted by the reversal of unvested stock compensation in the first quarter of 2019 for stock awards previously granted to former employees. During the three months ended March 31, 2019 , we did not grant any stock options, market-based performance restricted stock units or time-vesting restricted stock units.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2019
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 condensed 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. The property subject to review in the audit process include 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. Alan Hall, et. al. v. Rent-A-Center, Inc., et. al.; James DePalma, et. al. v. Rent-A-Center, Inc., et. al. On December 23, 2016, a putative class action was filed against us and certain of our former officers by Alan Hall in the Federal District Court for the Eastern District of Texas in Sherman, Texas. The complaint alleges that the defendants violated Section 10(b) and/or Section 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by issuing false and misleading statements and omitting material facts regarding our business, including implementation of our point-of-sale system, operations and prospects during the period covered by the complaint. A complaint filed by James DePalma also in Sherman, Texas alleging similar claims was consolidated by the court into the Hall matter. On October 8, 2018, the parties agreed to settle this matter for $11 million . The court granted preliminary approval of the settlement on December 13, 2018. Under the terms of the settlement our insurance carrier paid in January 2019 an aggregate of $11 million in cash which will be distributed to an agreed upon class of claimants who purchased our common stock from July 27, 2015 through October 10, 2016, as well as used to pay costs of notice and settlement administration, and plaintiffs’ attorneys’ fees and expenses. The settlement was approved by the court at a hearing held on May 3, 2019. Blair v. Rent-A-Center, Inc. This matter is a state-wide class action complaint originally filed on March 13, 2017 in the Federal District Court for the Northern District of California. The complaint alleges various claims, including that our cash sales and total rent to own prices exceed the pricing permitted under the Karnette Rental-Purchase Act. Following a court-ordered mediation on March 28, 2019, we reached an agreement in principle to settle this matter for a total of $13 million , including attorneys’ fees. The settlement is in the documentation process and is subject to approval by the court. We have denied any liability in the settlement and agreed to the settlement in order to avoid additional expensive, time-consuming litigation. We recorded the impact of this settlement in the first quarter of 2019. Vintage Rodeo Parent, LLC, Vintage Rodeo Acquisition, Inc. and Vintage Capital Management, LLC, and B. Riley Financial, Inc. v. Rent-A-Center, Inc. On December 18, 2018, after the Company did not receive an extension notice from Vintage Rodeo Parent, LLC (“Vintage”) that was required by December 17, 2018 to extend the Merger Agreement’s stated End Date, we terminated the Merger Agreement. Our Board of Directors determined that terminating the Merger Agreement was in the best interests of our stockholders, and instructed Rent-A-Center’s management to exercise the Company’s right to terminate the Merger Agreement and make a demand on Vintage for the $126.5 million reverse breakup fee owed to us following the termination of the Merger Agreement. On December 21, 2018, Vintage and its affiliates filed a lawsuit in Delaware Court of Chancery against Rent-A-Center, asserting that the Merger Agreement remained in effect, and that Vintage did not owe Rent-A-Center the $126.5 million reverse breakup fee associated with our termination of the Merger Agreement. B. Riley, a guarantor of the payment of the reverse breakup fee, later joined the lawsuit brought by Vintage in Delaware Court of Chancery. In addition, we brought a counterclaim against Vintage and B. Riley asserting our right to payment of the reverse breakup fee. On February 11th and 12th of this year, a trial was held in Delaware Court of Chancery in the lawsuit arising from Rent-A-Center's termination of the Merger Agreement. On March 14, 2019, the Delaware Court of Chancery ruled that Rent-A-Center validly terminated the Merger Agreement. As announced on April 22, 2019, we agreed to settle all litigation with Vintage and B. Riley relating to our termination of the Merger Agreement. In the settlement, we will receive a payment of $92.5 million in cash in late May 2019. In connection with the settlement, Rent-A-Center will exchange mutual releases with all other parties with respect to all matters relating to the Merger Agreement, including its termination. After payment of all remaining costs, fees and expenses relating to the terminated Merger Agreement and arising from the settlement of the litigation, we expect to retain pre-tax proceeds of approximately $80.0 million . We will record the impact of this settlement when payment is received. Velma Russell v. Acceptance Now. This purported class action arising out of calls made by Acceptance Now to customers’ reference (s) was filed on January 29, 2019 in Massachusetts state court. Specifically, plaintiffs seek to certify a class representing any references of customers (within the state of Massachusetts) during the 4 years prior to the filing date that were contacted by Acceptance Now more frequently during a 12 month period than is permitted by Massachusetts state law. The plaintiffs are seeking injunctive relief and statutory damages of $25 per reference which may be tripled to $75 per reference. References are not parties to our consumer arbitration agreement. We operate 12 Acceptance Now locations in Massachusetts. We intend to vigorously defend these claims; however, we cannot assure you that we will be found to have no liability in this matter. Federal Trade Commission civil investigative demand. In April 2019, along with other rent-to-own companies, we received a civil investigative demand from the Federal Trade Commission ("FTC") seeking information regarding certain transactions involving the purchase and sale of customer lease agreements, and whether such transactions violated the FTC Act. Although we believe such transactions were in compliance with the FTC Act, this inquiry could lead to an enforcement action and/or a consent order, and substantial costs. The Company is in the process of responding to this inquiry from the FTC.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Loss Per Common Share	Earnings (Loss) Per Common Share Summarized basic and diluted earnings per common share were calculated as follows: Three Months Ended March 31, (in thousands, except per share data) 2019 2018 Numerator: Net earnings (loss) $ 7,323 $ (19,843 ) Denominator: Weighted-average shares outstanding 53,930 53,406 Effect of dilutive stock awards (1) 1,566 — Weighted-average dilutive shares 55,496 53,406 Basic earnings (loss) per common share $ 0.14 $ (0.37 ) Diluted earnings (loss) per common share $ 0.13 $ (0.37 ) Anti-dilutive securities excluded from diluted loss per common share: Anti-dilutive restricted share units — 874 Anti-dilutive performance share units — 1,294 Anti-dilutive stock options 1,019 3,033 (1) There was no dilutive effect to the loss per common share for the three months ended March 31, 2018 due to the net loss incurred for respective period.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
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.
Newly Adopted Accounting Pronouncements [Policy Text Block]	Newly Adopted Accounting Pronouncements 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 of 12 months or less) 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 use 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. Adoption under ASU 2016-02 requires the use of a modified retrospective transition method to measure leases at the beginning of the earliest period presented in the consolidated financial statements. In July 2018, the FASB issued ASU 2018-11, allowing companies to apply a transition method for adoption of the new standard as of the adoption date, with recognition of any cumulative-effects as adjustments to the opening balance of retained earnings in the period of adoption. We adopted these ASU's beginning January 1, 2019 and elected the transition method under ASU 2018-11. The company's rent-to-own agreements which comprise the majority of our annual revenue fall within the scope of ASU 2016-02 under lessor accounting, however, the new standard does not significantly affect the timing of recognition or presentation of revenue for our rental contracts. As a lessee, the new standard affected a substantial portion of our lease contracts. As of March 31, 2019 , we have $273.8 million operating lease right-of-use assets and $284.5 million operating lease liabilities in our condensed consolidated balance sheet. Upon adoption we identified impairment losses related to closure of our product service centers and Core U.S. stores resulting in a cumulative-effect decrease of $2.0 million , net of tax, to our January 1, 2019 retained earnings balance. There were no significant affects to our condensed consolidated statements of operations or condensed consolidated statements of cash flows. We elected a package of optional practical expedients in our adoption of the new standard, including the option to retain the current classification for leases entered into prior to the date of adoption; the option not to reassess initial direct costs for capitalization for leases entered into prior to the date of adoption; and the option not to separate lease and non-lease components for our rent-to-own agreements as a lessor, and our real estate, and certain equipment leases as a lessee. In conjunction with the adoption of the new lease accounting standard, we implemented a new back-office lease administration and accounting system to support the new accounting and disclosure requirements as a lessee. In addition, we implemented changes to our previous accounting policies, processes, and internal controls to ensure compliance with the new standard. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which allows a company to reclassify to retained earnings the disproportionate income tax effects of the Tax Act on items with accumulated other comprehensive income that the FASB refers to as having been stranded in accumulated other comprehensive income. The adoption of ASU 2018-02 was required for us beginning January 1, 2019. We do not exercise the option to reclassify stranded tax effects within accumulated other comprehensive income in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act (or portion thereof) is recorded.

Revenues Revenues (Tables)

Revenues Revenues (Tables)	3 Months Ended
	Mar. 31, 2019
Revenues [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table disaggregates our revenue for the periods ended March 31, 2019 : Three Months Ended March 31, 2019 Core U.S. Acceptance Now Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 407,580 $ 143,193 $ 12,581 $ — $ 563,354 Merchandise sales 50,558 53,156 756 — 104,470 Installment sales 15,436 — — — 15,436 Other 483 173 8 — 664 Total store revenues 474,057 196,522 13,345 — 683,924 Franchise Merchandise sales — — — 8,456 8,456 Royalty income and fees — — — 4,314 4,314 Total revenues $ 474,057 $ 196,522 $ 13,345 $ 12,770 $ 696,694 Three Months Ended March 31, 2018 Core U.S. Acceptance Now Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 412,642 $ 140,824 $ 11,248 $ — $ 564,714 Merchandise sales 50,584 56,006 766 — 107,356 Installment sales 16,404 — — — 16,404 Other 2,411 156 17 — 2,584 Total store revenues 482,041 196,986 12,031 — 691,058 Franchise Merchandise sales — — — 3,634 3,634 Royalty income and fees — — — 3,351 3,351 Total revenues $ 482,041 $ 196,986 $ 12,031 $ 6,985 $ 698,043

Receivables and Allowance for_2

Receivables and Allowance for Doubtful Accounts Receivables and Allowance for Doubtful Accounts (Tables)	3 Months Ended
	Mar. 31, 2019
Receivables and Allowance for Doubtful Accounts [Abstract]
Receivables [Table Text Block]	Receivables consist of the following: (In thousands) March 31, 2019 December 31, 2018 Installment sales receivable $ 51,534 $ 54,746 Trade and notes receivables 16,695 19,782 Total receivables 68,229 74,528 Less allowance for doubtful accounts (4,468 ) (4,883 ) Total receivables, net of allowance for doubtful accounts $ 63,761 $ 69,645
Changes in allowance for doubtful accounts [Table Text Block]	Changes in our allowance for doubtful accounts are as follows: (In thousands) March 31, 2019 Beginning allowance for doubtful accounts $ 4,883 Bad debt expense 2,942 Accounts written off (3,544 ) Recoveries 187 Ending allowance for doubtful accounts $ 4,468

Leases Leases (Tables)

Leases Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Operating lease costs [Table Text Block]	Total operating lease costs by expense type: Three Months Ended (in thousands) March 31, 2019 Operating lease cost included in other store expenses (1) $ 36,553 Operating lease cost included in other charges 2,141 Sublease receipts (1,676 ) Total operating lease charges $ 37,018 (1) Includes short-term and variable lease costs, which are not significant. Supplemental cash flow information related to leases: Three Months Ended (in thousands) March 31, 2019 Cash paid for amounts included in measurement of operating lease liabilities $ 30,077 Cash paid for short-term operating leases not included in operating lease liabilities 6,941 Right-of-use assets obtained in exchange for new operating lease liabilities 3,927 Weighted-average discount rate and weighted-average remaining lease term: (in thousands) March 31, 2019 Weighted-average discount rate (1) 7.9 % Weighted-average remaining lease term (in years) 3 (1) January 1, 2019 borrowing rate was used for leases in existence at the time of adoption of ASU 2016-02.
Operating lease liability maturity [Table Text Block]	Reconciliation of undiscounted operating lease liabilities to the present value operating lease liabilities at March 31, 2019 : (In thousands) Operating Leases 2019 $ 91,427 2020 100,444 2021 68,804 2022 40,369 2023 16,712 Thereafter 3,194 Total undiscounted operating lease liabilities 320,950 Less: Interest (36,462 ) Total present value of operating lease liabilities $ 284,488
ASC 840 Operating leases future minimum rental payments [Table Text Block]	In accordance with ASC 840, future minimum rental payments for operating leases with remaining lease terms in excess of one year, at December 31, 2018 : (In thousands) Operating Leases 2019 $ 145,345 2020 116,785 2021 80,362 2022 47,417 2023 16,460 Thereafter 2,280 Total future minimum rental payments 408,649

Senior Debt (Tables)

Senior Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Senior Debt [Abstract]
Financial Covenants Ratios	The table below shows the required and actual ratios under the Credit Agreement calculated as of March 31, 2019 : Required Ratio Actual Ratio Consolidated Fixed Charge Coverage Ratio No less than 1.10:1 5.13:1

Fair Value Fair Value (Tables)

Fair Value Fair Value (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 (in thousands) Carrying Value Fair Value Difference Carrying Value Fair Value Difference 6.625% senior notes $ 292,740 $ 292,740 $ — $ 292,740 $ 285,509 $ (7,231 ) 4.75% senior notes 250,000 244,000 (6,000 ) 250,000 239,050 (10,950 ) Total senior notes $ 542,740 $ 536,740 $ (6,000 ) $ 542,740 $ 524,559 $ (18,181 )

Other Charges (Tables)

Other Charges (Tables)	3 Months Ended
	Mar. 31, 2019
Restructuring Costs and Asset Impairment Charges [Abstract]
Other Charges [Table Text Block]	Activity with respect to other charges for the three months ended March 31, 2019 is summarized in the below table: (in thousands) Accrued Charges at December 31, 2018 Charges & Adjustments Payments & Adjustments Accrued Charges at March 31, 2019 Cash charges: Labor reduction costs $ 7,623 $ 3,122 $ (6,420 ) $ 4,325 Lease obligation costs (1) 4,882 — (4,882 ) — Other miscellaneous — 1,609 (1,609 ) — Total cash charges $ 12,505 4,731 $ (12,911 ) $ 4,325 Non-cash charges: Asset impairments (2) 5,309 Other (3) 23,330 Total other charges $ 33,370 (1) Upon adoption of ASU 2016-02, previously accrued lease obligation costs related to discontinued operations were eliminated and are now reflected as an adjustment to our operating lease right-of-use assets in our Condensed Consolidated Balance Sheet. (2) Includes impairments of operating lease right-of-use assets and other property assets related to the closure of RTO stores and our product service centers in the first quarter. (3) Other primarily includes the Blair class action settlement (refer to Note 11 for additional details), and incremental legal and professional fees related to the merger termination.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Information [Abstract]
Segment Information	Segment information for the three months ended March 31, 2019 and 2018 is as follows: Three Months Ended March 31, (in thousands) 2019 2018 Revenues Core U.S. $ 474,057 $ 482,041 Acceptance Now 196,522 196,986 Mexico 13,345 12,031 Franchising 12,770 6,985 Total revenues $ 696,694 $ 698,043 Three Months Ended March 31, (in thousands) 2019 2018 Gross profit Core U.S. $ 324,640 $ 336,241 Acceptance Now 86,328 88,805 Mexico 9,269 8,322 Franchising 4,629 3,610 Total gross profit $ 424,866 $ 436,978 Three Months Ended March 31, (in thousands) 2019 2018 Operating profit (loss) Core U.S. $ 53,311 $ 28,387 Acceptance Now 21,513 15,430 Mexico 1,219 497 Franchising 1,778 1,256 Total segments 77,821 45,570 Corporate (60,472 ) (55,840 ) Total operating profit (loss) $ 17,349 $ (10,270 ) Three Months Ended March 31, (in thousands) 2019 2018 Depreciation, amortization and impairment of intangibles Core U.S. $ 5,472 $ 6,826 Acceptance Now 348 435 Mexico 140 344 Franchising 30 44 Total segments 5,990 7,649 Corporate 9,783 10,251 Total depreciation, amortization and impairment of intangibles $ 15,773 $ 17,900 Three Months Ended March 31, (in thousands) 2019 2018 Capital expenditures Core U.S. $ 558 $ 4,890 Acceptance Now 47 45 Mexico 3 3 Total segments 608 4,938 Corporate 1,900 3,711 Total capital expenditures $ 2,508 $ 8,649 (in thousands) March 31, 2019 December 31, 2018 On rent rental merchandise, net Core U.S. $ 403,518 $ 424,829 Acceptance Now 228,248 242,978 Mexico 15,770 16,001 Total on rent rental merchandise, net $ 647,536 $ 683,808 (in thousands) March 31, 2019 December 31, 2018 Held for rent rental merchandise, net Core U.S. $ 114,220 $ 117,294 Acceptance Now 1,246 1,207 Mexico 4,919 5,161 Total held for rent rental merchandise, net $ 120,385 $ 123,662 (in thousands) March 31, 2019 December 31, 2018 Assets by segment Core U.S. $ 957,380 $ 714,914 Acceptance Now 292,032 312,151 Mexico 34,940 29,321 Franchising 6,367 4,287 Total segments 1,290,719 1,060,673 Corporate 390,697 336,244 Total assets $ 1,681,416 $ 1,396,917

Earnings (Loss) Per Common Sh_2

Earnings (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Loss Per Common Share	Summarized basic and diluted earnings per common share were calculated as follows: Three Months Ended March 31, (in thousands, except per share data) 2019 2018 Numerator: Net earnings (loss) $ 7,323 $ (19,843 ) Denominator: Weighted-average shares outstanding 53,930 53,406 Effect of dilutive stock awards (1) 1,566 — Weighted-average dilutive shares 55,496 53,406 Basic earnings (loss) per common share $ 0.14 $ (0.37 ) Diluted earnings (loss) per common share $ 0.13 $ (0.37 ) Anti-dilutive securities excluded from diluted loss per common share: Anti-dilutive restricted share units — 874 Anti-dilutive performance share units — 1,294 Anti-dilutive stock options 1,019 3,033 (1) There was no dilutive effect to the loss per common share for the three months ended March 31, 2018 due to the net loss incurred for respective period.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Operating lease right-of-use assets	$ 273,833		$ 0
Operating lease liabilities	284,488		$ 0
ASC 842 adoption	$ (1,976)	$ (2,000)

Revenues Revenues (Details)

Revenues Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Rentals and fees	$ 563,354	$ 564,714
Merchandise sales	104,470	107,356
Installment sales	15,436	16,404
Other	664	2,584
Total store revenues	683,924	691,058
Merchandise sales	8,456	3,634
Royalty income and fees	4,314	3,351
Total revenues	696,694	698,043
Rental purchase agreements [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	44,700		$ 42,100
Other product plans [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	2,800		3,000
Franchise fees [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	4,300		$ 4,100
Core Us [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	407,580	412,642
Merchandise sales	50,558	50,584
Installment sales	15,436	16,404
Other	483	2,411
Total store revenues	474,057	482,041
Merchandise sales	0	0
Royalty income and fees	0	0
Total revenues	474,057	482,041
Acceptance Now [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	143,193	140,824
Merchandise sales	53,156	56,006
Installment sales	0	0
Other	173	156
Total store revenues	196,522	196,986
Merchandise sales	0	0
Royalty income and fees	0	0
Total revenues	196,522	196,986
Mexico [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	12,581	11,248
Merchandise sales	756	766
Installment sales	0	0
Other	8	17
Total store revenues	13,345	12,031
Merchandise sales	0	0
Royalty income and fees	0	0
Total revenues	13,345	12,031
Franchising [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	0	0
Merchandise sales	0	0
Installment sales	0	0
Other	0	0
Total store revenues	0	0
Merchandise sales	8,456	3,634
Royalty income and fees	4,314	3,351
Total revenues	$ 12,770	$ 6,985

Receivables and Allowance for_3

Receivables and Allowance for Doubtful Accounts Receivables and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Receivables [Line Items]
Accounts Receivable, Gross	$ 68,229		$ 74,528
Receivables, net of allowance for doubtful accounts of $4,468 and $4,883 in 2019 and 2018, respectively	63,761		69,645
Allowance for Doubtful Accounts Receivable [Roll Forward]
Bad debt expense	2,942	$ 3,437
Accounts written off	(3,544)
Recoveries	187
Allowance for doubtful accounts	4,468		4,883
Installment sales receivable [Member]
Receivables [Line Items]
Accounts Receivable, Gross	51,534		54,746
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for doubtful accounts	3,100		3,600
Trade and notes receivables [Member]
Receivables [Line Items]
Accounts Receivable, Gross	16,695		19,782
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for doubtful accounts	$ 1,400		$ 1,300

Leases Leases (Details)

Leases Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating lease charges	$ 37,018
Sublease receipts	(1,676)
Cash paid for amounts included in measurement of operating lease liabilities	30,077
Cash paid for short-term operating leases not included in operating lease liabilities	6,941
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 3,927
Weighted-average discount rate	7.90%
Weighted-average remaining lease term	3 years
2019	$ 91,427
2020	100,444
2021	68,804
2022	40,369
2023	16,712
Thereafter	3,194
Total undiscounted operating lease liabilities	320,950
Less: Interest	(36,462)
Operating lease liabilities	284,488	$ 0
2019		145,345
2020		116,785
2021		80,362
2022		47,417
2023		16,460
Thereafter		2,280
Total future minimum rental payments		$ 408,649
Other store expenses [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges	36,553
Other charges [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges	$ 2,141

Senior Debt (Details)

Senior Debt (Details)	3 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Senior Debt (Table Details) [Abstract]
Unamortized Debt Issuance Expense	$ 2,100,000	$ 2,600,000
Letters of credit, amount outstanding	$ 92,000,000
Line of credit commitment fee percentage	0.40%
Line of credit commitment fee	$ 700,000
Senior credit facilities, additional amount allowed	$ 100,000,000
Debt refinancing charges		500,000
Debt arrangement and amendment fees		2,100,000
Financial Covenants Ratios (Table Details) [Abstract]
Required consolidated fixed charge coverage ratio, minimum	1.10
Actual consolidated fixed charge coverage ratio	5.13
Covenants [Abstract]
Adjusted consolidated EBITDA	$ 204,000,000
Consolidated fixed charges	$ 39,700,000
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
Minimum [Member]
Senior Debt (Table Details) [Abstract]
Line of credit commitment fee percentage	0.30%
Maximum [Member]
Senior Debt (Table Details) [Abstract]
Line of credit commitment fee percentage	0.50%
Eurodollar [Member]
Senior Debt (Table Details) [Abstract]
Description of variable rate basis	Eurodollar rate
Prime Rate [Member]
Senior Debt (Table Details) [Abstract]
Description of variable rate basis	prime
Revolving Credit Facility [Member]
Senior Debt (Table Details) [Abstract]
Senior credit facility, maximum amount	$ 200,000,000
Revolving facility, amount outstanding	$ 0
Maturity date	Dec. 31, 2019
Covenants [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity	$ 95,100,000
Revolving Credit Facility [Member] | Eurodollar [Member]
Senior Debt (Table Details) [Abstract]
Margin on Eurodollar rate, actual	2.00%
Revolving Credit Facility [Member] | Eurodollar [Member] | Minimum [Member]
Senior Debt (Table Details) [Abstract]
Basis margin on variable rate	1.50%
Revolving Credit Facility [Member] | Eurodollar [Member] | Maximum [Member]
Senior Debt (Table Details) [Abstract]
Basis margin on variable rate	3.00%
Revolving Credit Facility [Member] | Prime Rate [Member]
Senior Debt (Table Details) [Abstract]
Margin on Prime Rate, actual	1.00%
Revolving Credit Facility [Member] | Prime Rate [Member] | Minimum [Member]
Senior Debt (Table Details) [Abstract]
Basis margin on variable rate	0.50%
Revolving Credit Facility [Member] | Prime Rate [Member] | Maximum [Member]
Senior Debt (Table Details) [Abstract]
Basis margin on variable rate	2.00%
Line of Credit [Member]
Covenants [Abstract]
Unsecured line of credit, maximum facility	$ 12,500,000
Unsecured line of credit, amount outstanding	$ 0	$ 0

Senior Notes (Details)

Senior Notes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Senior Notes [Line Items]
Carrying value of senior notes	$ 542,740	$ 542,740
Unamortized Debt Issuance Expense	2,100	2,600
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
Event of default for senior notes - not discharged, bonded or insured judgment in excess of this amount	$ 50,000
Our ownership percentage of subsidiary guarantors of senior notes	100.00%
Senior Notes Due 2020 [Member]
Senior Notes [Line Items]
Initial Borrowing in Senior Notes	$ 300,000
Portion of proceeds from senior notes used to repay outstanding term debt	200,000
Carrying value of senior notes	292,740	292,740
Unamortized Debt Issuance Expense	$ 1,000	1,200
Senior notes, redemption price, percentage	100.00%
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 2021 [Member]
Senior Notes [Line Items]
Initial Borrowing in Senior Notes	$ 250,000
Portion of proceeds from senior notes used to repay outstanding term debt	200,000
Carrying value of senior notes	250,000	250,000
Unamortized Debt Issuance Expense	$ 1,300	$ 1,500
Senior notes, redemption price, percentage	100.00%
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%

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
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	(6,000)	(18,181)
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	0	(7,231)
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	(6,000)	(10,950)
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	536,740	524,559
Fair Value, Measurements, Nonrecurring [Member] | Senior Notes Due 2020 [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	292,740	285,509
Fair Value, Measurements, Nonrecurring [Member] | Senior Notes Due 2021 [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	$ 244,000	$ 239,050

Other Charges (Details)

Other Charges (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)store	Mar. 31, 2018USD ($)store	Dec. 31, 2018USD ($)
Other Charges [Line Items]
Write-down of capitalized assets		$ 1,900
Total other charges	$ 33,370	17,455
Labor reduction costs
Other Charges [Line Items]
Accrued restructuring charges	4,325		$ 7,623
Lease obligation costs
Other Charges [Line Items]
Accrued restructuring charges	0		4,882
Other miscellaneous
Other Charges [Line Items]
Accrued restructuring charges	0		0
Cost Savings Initiative [Member]
Other Charges [Line Items]
Asset impairments	200
Other miscellaneous	1,100
Other		1,900
Cost Savings Initiative [Member] | Labor reduction costs
Other Charges [Line Items]
Restructuring cash charges	3,000	7,100
Cost Savings Initiative [Member] | Lease obligation costs
Other Charges [Line Items]
Asset impairments	4,400
Restructuring cash charges		1,300
Store Consolidation Plan [Member]
Other Charges [Line Items]
Asset impairments	300	800
Other miscellaneous	500	200
Pretax other charges		4,600
Store Consolidation Plan [Member] | Lease obligation costs
Other Charges [Line Items]
Asset impairments	$ 500
Restructuring cash charges		$ 3,600
Store Consolidation Plan [Member] | Core Us [Member]
Other Charges [Line Items]
Number of Stores Closed | store	28	61
Store Consolidation Plan [Member] | Mexico [Member]
Other Charges [Line Items]
Number of Stores Closed | store		8
Charges and adjustments [Member]
Other Charges [Line Items]
Restructuring cash charges	$ 4,731
Charges and adjustments [Member] | Labor reduction costs
Other Charges [Line Items]
Restructuring cash charges	3,122
Charges and adjustments [Member] | Lease obligation costs
Other Charges [Line Items]
Restructuring cash charges	0
Charges and adjustments [Member] | Other miscellaneous
Other Charges [Line Items]
Restructuring cash charges	1,609
Payments [Member]
Other Charges [Line Items]
Restructuring payments	(12,911)
Payments [Member] | Labor reduction costs
Other Charges [Line Items]
Restructuring payments	(6,420)
Payments [Member] | Lease obligation costs
Other Charges [Line Items]
Restructuring payments	(4,882)
Payments [Member] | Other miscellaneous
Other Charges [Line Items]
Restructuring payments	(1,609)
Restructuring Charges-Total [Member]
Other Charges [Line Items]
Accrued restructuring charges	4,325		$ 12,505
Non-Cash Charges [Member]
Other Charges [Line Items]
Asset impairments	5,309
Other	$ 23,330

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 696,694	$ 698,043
Gross profit	424,866	436,978
Operating profit (loss)	17,349	(10,270)
Depreciation, amortization and impairment of intangibles	15,773	17,900
Capital expenditures	2,508	8,649
Rental merchandise on rent, net	647,536		$ 683,808
Rental merchandise held for rent, net	120,385		123,662
Assets	1,681,416		1,396,917
Core U.S. [Member]
Segment Reporting Information [Line Items]
Total revenues	474,057	482,041
Gross profit	324,640	336,241
Operating profit (loss)	53,311	28,387
Depreciation, amortization and impairment of intangibles	5,472	6,826
Capital expenditures	558	4,890
Rental merchandise on rent, net	403,518		424,829
Rental merchandise held for rent, net	114,220		117,294
Assets	957,380		714,914
Acceptance Now [Member]
Segment Reporting Information [Line Items]
Total revenues	196,522	196,986
Gross profit	86,328	88,805
Operating profit (loss)	21,513	15,430
Depreciation, amortization and impairment of intangibles	348	435
Capital expenditures	47	45
Rental merchandise on rent, net	228,248		242,978
Rental merchandise held for rent, net	1,246		1,207
Assets	292,032		312,151
Mexico [Member]
Segment Reporting Information [Line Items]
Total revenues	13,345	12,031
Gross profit	9,269	8,322
Operating profit (loss)	1,219	497
Depreciation, amortization and impairment of intangibles	140	344
Capital expenditures	3	3
Rental merchandise on rent, net	15,770		16,001
Rental merchandise held for rent, net	4,919		5,161
Assets	34,940		29,321
Franchising [Member]
Segment Reporting Information [Line Items]
Total revenues	12,770	6,985
Gross profit	4,629	3,610
Operating profit (loss)	1,778	1,256
Depreciation, amortization and impairment of intangibles	30	44
Assets	6,367		4,287
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating profit (loss)	77,821	45,570
Depreciation, amortization and impairment of intangibles	5,990	7,649
Capital expenditures	608	4,938
Assets	1,290,719		1,060,673
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating profit (loss)	(60,472)	(55,840)
Depreciation, amortization and impairment of intangibles	9,783	10,251
Capital expenditures	1,900	$ 3,711
Assets	$ 390,697		$ 336,244

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Stock-Based Compensation [Abstract]
Stock-based compensation expense	$ 709	$ 1,862

Contingencies Contingencies (De

Contingencies Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Contingencies [Abstract]
Litigation Settlement, Amount Awarded to Other Party	$ 13	$ 11
Litigation Settlement, Amount Awarded from Other Party	92.5
Pre-tax Proceeds Related to Litigation Settlement	$ 80

Earnings (Loss) Per Common Sh_3

Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net earnings (loss)	$ 7,323	$ (19,843)
Weighted average shares outstanding	53,930	53,406
Effect of dilutive stock awards	1,566	0
Weighted-average dilutive shares	55,496	53,406
Basic earnings (loss) per common share	$ 0.14	$ (0.37)
Diluted earnings (loss) per common share	$ 0.13	$ (0.37)
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock options	0	874
Performance-based restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock options	0	1,294
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock options	1,019	3,033