Upbound (UPBD) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Document and Company Informatio

Document and Company Information - shares	3 Months Ended
	Mar. 31, 2020	May 04, 2020
Document And Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-38047
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-0491516
Entity Address, Address Line One	5501 Headquarters Drive
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75024
City Area Code	972
Local Phone Number	801-1100
Title of 12(b) Security	Common Stock, $.01 Par Value
Trading Symbol	RCII
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		53,780,909
Entity Shell Company	false
Entity Registrant Name	RENT A CENTER INC DE
Entity Central Index Key	0000933036
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Store
Rentals and fees	$ 568,000	$ 563,354
Merchandise sales	101,380	104,470
Installment sales	14,747	15,436
Other	722	664
Total store revenues	684,849	683,924
Franchise
Merchandise sales	12,437	8,456
Royalty income and fees	4,653	4,314
Total revenues	701,939	696,694
Store
Cost of rentals and fees	165,455	155,372
Cost of merchandise sold	98,757	103,391
Cost of installment sales	5,025	4,924
Total cost of store revenues	269,237	263,687
Franchise cost of merchandise sold	12,524	8,141
Total cost of revenues	281,761	271,828
Gross profit	420,178	424,866
Store expenses
Labor	153,794	161,656
Other store expenses	161,718	163,794
General and administrative expenses	39,175	32,924
Depreciation and amortization	14,913	15,773
Other charges	1,703	33,370
Total operating expenses	371,303	407,517
Operating profit	48,875	17,349
Interest expense	4,447	9,389
Interest income	(144)	(874)
Earnings before income taxes	44,572	8,834
Income tax (benefit) expense	(4,720)	1,511
Net earnings	$ 49,292	$ 7,323
Basic earnings per common share	$ 0.90	$ 0.14
Diluted earnings per common share	$ 0.88	$ 0.13

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income Statement - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net earnings	$ 49,292	$ 7,323
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of tax of $(1,038) and $138 for the three months ended 2020 and 2019, respectively	(3,906)	521
Total other comprehensive (loss) income	(3,906)	521
foreign currency translation tax adjustment	(1,038)	138
Comprehensive income	$ 45,386	$ 7,844

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 182,919	$ 70,494
Receivables, net of allowance for doubtful accounts of $7,066 and $5,601 in 2020 and 2019, respectively	73,103	84,123
Allowance for doubtful accounts	7,066	5,601
Prepaid expenses and other assets	40,108	46,043
Rental merchandise, net
On rent	660,604	697,270
Held for rent	120,930	138,418
Merchandise held for installment sale	5,192	4,878
Property assets, net of accumulated depreciation of $526,307 and $522,826 in 2020 and 2019, respectively	160,082	166,138
Property assets, accumulated depreciation	526,307	522,826
Operating lease right-of-use assets	270,573	281,566
Deferred tax asset	14,889	14,889
Goodwill	70,217	70,217
Other intangible assets, net	8,442	8,762
Total Assets	1,607,059	1,582,798
LIABILITIES
Accounts payable - trade	106,855	168,120
Accrued liabilities	229,177	275,777
Operating lease liabilities	277,752	285,041
Deferred tax liability	163,431	163,984
Senior debt, net	353,821	230,913
Total Liabilities	1,131,036	1,123,835
STOCKHOLDERS' EQUITY
Common stock, $.01 par value; 250,000,000 shares authorized; 111,669,318 and 111,166,229 shares issued in 2020 and 2019, respectively	$ 1,101	$ 1,110
Common stock - par value	$ 0.01	$ 0.01
Common stock - shares authorized	250,000,000	250,000,000
Common stock - shares issued	111,669,318	111,166,229
Additional paid-in capital	$ 868,580	$ 869,617
Retained earnings	996,398	947,875
Treasury stock at cost, 57,889,659 and 56,428,482 shares in 2020 and 2019	$ (1,375,480)	$ (1,348,969)
Treasury stock - shares at cost	57,889,659	56,428,482
Accumulated other comprehensive loss	$ (14,576)	$ (10,670)
Total Stockholders' Equity	476,023	458,963
Total Liabilities and Stockholders' Equity	$ 1,607,059	$ 1,582,798

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity Condensed Consolidated Statements of Stockholders' Equity - 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]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares, outstanding		109,910
Total stockholders' equity	$ 286,517	$ 1,099	$ 838,436	$ 805,924	$ (1,347,677)	$ (11,265)
ASU adoption adjustment	(1,976)			(1,976)
Net earnings	7,323			7,323
Total other comprehensive (loss) income	521					521
Exercise of stock options, shares		284
Exercise of stock options	2,892	$ 3	2,889
Vesting of restricted share units, shares		218
Vesting of restricted share units	0	$ 2	(2)
Tax effect of stock awards vested and options exercised	(1,734)		(1,734)
Stock-based compensation	709		709
Common stock, shares, outstanding		110,412
Total stockholders' equity	294,252	$ 1,104	840,298	811,271	(1,347,677)	(10,744)
Common stock, shares, outstanding		111,166
Total stockholders' equity	458,963	$ 1,110	869,617	947,875	(1,348,969)	(10,670)
ASU adoption adjustment	(769)			(769)
Net earnings	49,292
Total other comprehensive (loss) income	(3,906)
Purchase of treasury stock	26,525	$ 14			26,511
Exercise of stock options, shares		69
Exercise of stock options	1,195	$ 1	1,194
Vesting of restricted share units, shares		434
Vesting of restricted share units	0	$ 4	(4)
Tax effect of stock awards vested and options exercised	(5,270)		(5,270)
Stock-based compensation	3,043		3,043
Common stock, shares, outstanding		111,669
Total stockholders' equity	$ 476,023	$ 1,101	$ 868,580	$ 996,398	$ (1,375,480)	$ (14,576)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net earnings	$ 49,292	$ 7,323
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation of rental merchandise	160,445	155,111
Bad debt expense	3,749	2,942
Stock-based compensation expense	3,043	709
Depreciation of property assets	14,597	15,693
Loss on sale or disposal of property assets	558	1,341
Amortization of intangibles	319	79
Amortization of financing fees	408	973
Deferred income taxes	(121)	(1,913)
Changes in operating assets and liabilities
Rental merchandise	(106,739)	(123,966)
Receivables	7,270	2,942
Prepaid expenses and other assets	5,935	11,588
Operating lease right-of-use assets and lease liabilities	3,704	1,508
Accounts payable - trade	(61,265)	5,066
Accrued liabilities	(33,795)	(3,621)
Net cash provided by operating activities	47,400	75,775
Cash flows from investing activities
Purchase of property assets	(9,151)	(2,508)
Proceeds from sale of property assets	187	8,475
Net cash (used in) provided by investing activities	(8,964)	5,967
Cash flows from financing activities
Share repurchases	26,511	0
Exercise of stock options	1,194	2,892
Shares withheld for payment of employee tax withholdings	(5,268)	(2,330)
Debt issuance costs	0	157
Proceeds from debt	198,000	5,400
Repayments of debt	(75,500)	(5,400)
Dividends paid	15,912	0
Net cash provided by financing activities	76,003	405
Effect of exchange rate changes on cash	(2,014)	206
Net increase in cash and cash equivalents	112,425	82,353
Cash and cash equivalents at beginning of period	70,494	155,391
Cash and cash equivalents at end of period	$ 182,919	$ 237,744

Basis of Presentation (Notes)

Basis of Presentation (Notes)	3 Months Ended
	Mar. 31, 2020
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 (the "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, 2019. 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. COVID-19 During the first quarter of 2020, the respiratory disease caused by a novel coronavirus (“COVID-19”) began to spread worldwide causing the World Health Organization to declare the outbreak a pandemic, and resulting in significant disruptions to the U.S. and world economies. In response to the issuance of U.S. federal guidelines to contain the spread of the COVID-19 virus, state and local jurisdictions have implemented various containment measures, including shelter-in-place orders and the temporary closure of non-essential businesses. The effects of these containment measures negatively impacted our operations resulting in the temporary or partial closure of locations in our Preferred Lease and Rent-A-Center Business segments. In response to these restrictions and negative impacts to our operations, we have undertaken certain measures to reduce operating expenses and cash flow uses, as well as enhance our financial flexibility, to help mitigate the impacts of COVID-19. However, we are unable to accurately predict the full impact that COVID-19 will have on our operations. Use of Estimates In preparing financial statements in conformity with U.S. generally accepted accounting principles, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent losses and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. In applying accounting principles, we must often make individual estimates and assumptions regarding expected outcomes or uncertainties. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. However, uncertainties due to COVID-19 may affect certain estimates and assumptions inherent in the financial reporting process, which may impact reported amounts of assets and liabilities in future periods and cause actual results to differ from those estimates. Principles of Consolidation and Nature of Operations These financial statements included herein 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: Rent-A-Center Business, Preferred Lease, Mexico and Franchising. Our Rent-A-Center Business segment consists of company-owned lease-to-own stores in the United States and Puerto Rico that lease household durable goods to customers on a lease-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 Preferred Lease segment, which operates in the United States and Puerto Rico, and includes the operations of Merchants Preferred (as defined in Note 2 below) acquired in August 2019, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer through kiosks located within such retailer's locations, including staffed options, un-manned or virtual options, or a combination of the two (the hybrid model). The hybrid model can be staffed by a Preferred Lease employee (staffed locations) or employ a virtual solution where customers, either directly or with the assistance of a representative of the third-party retailer, initiate the lease-to-own transaction online in the retailers' locations using our virtual solutions (virtual locations). Our Mexico segment consists of our company-owned lease-to-own stores in Mexico that lease household durable goods to customers on a lease-to-own basis. Rent-A-Center Franchising International, Inc., an indirect, wholly owned subsidiary of Rent-A-Center, is a franchisor of lease-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 lease-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 June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires immediate recognition of estimated current expected credit losses, rather than recognition when incurred. We adopted ASU 2016-13 and all related amendments, including ASU 2020-02 and ASU 2020-03, beginning January 1, 2020, using a modified retrospective approach. Under such approach, we recognized a cumulative-effect of the guidance as an adjustment to the opening balance of retained earnings for the quarter ended March 31, 2020. The application of this new methodology is limited to our installment notes receivables and trade receivables with our franchisees, primarily related to merchandise sales. The comparative information has not been restated and continues to be reported under the accounting standards in effect for periods ending prior to January 1, 2020. The cumulative effect as of January 1, 2020 resulting from the adoption of ASU 2016-13 and related amendments was a net decrease to opening retained earnings in our Condensed Consolidated Balance Sheet of $0.8 million. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the subsequent measurement of goodwill by eliminating the hypothetical purchase price allocation and instead using the difference between the carrying amount and the fair value of the reporting unit. We adopted ASU 2017-04 beginning January 1, 2020, using a prospective approach. There was no impact to our financial statements for the three months ended March 31, 2020 resulting from the adoption of this ASU. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which removes, modifies, and adds certain disclosure requirements in ASC 820, to improve the effectiveness of the fair value measurement disclosures. We adopted ASU 2018-13 beginning January 1, 2020, using a prospective approach. There was no impact to our financial statements for the three months ended March 31, 2020 resulting from the adoption of this ASU. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40); Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement, which requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customer in a software licensing agreement under the internal-use software guidance in ASC 350-40. We adopted ASU 2018-15 beginning January 1, 2020, using a prospective approach. Impacts to our financial statements resulting from the adoption of this ASU were immaterial to our financial statements for the three months ended March 31, 2020.

Acquisitions Acquisitions (Note

Acquisitions Acquisitions (Notes)	12 Months Ended
	Dec. 31, 2019
Acquisitions [Abstract]
Acquisitions [Text Block]	Acquisitions On August 13, 2019, we completed the acquisition of substantially all of the assets of C/C Financial Corp. dba Merchants Preferred ("Merchants Preferred"), a nationwide provider of virtual lease-to-own services. The aggregate purchase price was approximately $46.4 million, including net cash consideration of approximately $28.0 million, and 701,918 shares of our common stock valued at $27.31 per share, as of the date of closing, less working capital adjustments of approximately $0.9 million. Assets acquired and liabilities assumed in connection with the acquisition have been recorded at their fair values. The following table provides the final estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date: (in thousands) August 13, 2019 Receivables $ 1,813 Prepaid expenses and other assets 154 Rental merchandise 17,904 Software 4,300 Right of use operating leases 404 Other intangible assets 8,900 Goodwill 13,403 Lease liabilities (487) Net identifiable assets acquired $ 46,391 The fair value measurements were primarily based on significant unobservable inputs (level 3) developed using company-specific information. Certain fair value estimates were determined based on an independent valuation of the net assets acquired, including identifiable intangible assets, relating to dealer relationships of $8.9 million, and software of $4.3 million. The fair value for dealer relationships and software were estimated using common industry valuation methods for similar asset types, based primarily on cost inputs and projected cash flows. The dealer relationships and software assets were both assigned remaining lives of 10 years. In addition, we recorded goodwill of $13.4 million, which consists of the excess of the net purchase price over the fair value of the net assets acquired. The goodwill is not deductible for tax purposes.

Revenues Revenues (Notes)

Revenues Revenues (Notes)	3 Months Ended
	Mar. 31, 2020
Revenues [Abstract]
Revenues [Text Block]	Revenues The following table disaggregates our revenue for the periods ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 Rent-A-Center Business Preferred Lease Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 393,165 $ 161,998 $ 12,837 $ — $ 568,000 Merchandise sales 46,687 53,988 705 — 101,380 Installment sales 14,747 — — — 14,747 Other 366 141 4 211 722 Total store revenues 454,965 216,127 13,546 211 684,849 Franchise Merchandise sales — — — 12,437 12,437 Royalty income and fees — — — 4,653 4,653 Total revenues $ 454,965 $ 216,127 $ 13,546 $ 17,301 $ 701,939 Three Months Ended March 31, 2019 Rent-A-Center Business Preferred Lease 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 Rental-Purchase Agreements Rent-A-Center Business, Preferred Lease, and Mexico Rentals and Fees. Rental 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 may renew the rental agreement 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 rental agreement at the end of any rental term without penalty. Therefore, rental transactions are accounted for as operating leases. Rental payments received at our Rent-A-Center Business, Preferred Lease (excluding virtual) and Mexico locations must be prepaid in advance of the next rental term. Rental revenue is then recognized over the rental term. Under the virtual business model, revenues are earned prior to the rental payment due date. Therefore, virtual business revenue is accrued prior to receipt of the rental payment, net of estimated returns and uncollectible renewal payments. See Note 4 for additional information regarding accrued rental revenue and the related allowances for returns and uncollectible payments. Cash received for rental payments, including fees, prior to the period in which it should be recognized, is deferred and recognized according to the rental term. At March 31, 2020 and December 31, 2019, we had $37.3 million and $39.9 million, respectively, in deferred revenue included in accrued liabilities related to our rental purchase agreements. Revenue related to various payment, reinstatement or late fees is 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 also 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, product service and replacement benefits in the event merchandise is damaged or lost, and payment insurance in the event eligible customers become unemployed. 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. Revenue from contracts with customers Rent-A-Center Business, Preferred Lease, 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 period and receive a refund for payments previously made towards the plan. At each of March 31, 2020 and December 31, 2019, we had $2.9 million in deferred revenue included in accrued liabilities related to extended service plans. Other. Other revenue primarily consists of other miscellaneous product plans offered to our rental and installment customers. 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.

Receivables and Allowance for D

Receivables and Allowance for Doubtful Accounts Receivables and Allowance for Doubtful Accounts (Notes)	3 Months Ended
	Mar. 31, 2020
Receivables and Allowance for Doubtful Accounts [Abstract]
Receivables and Allowance for Doubtful Accounts [Text Block]	Receivables and Allowance for Doubtful Accounts Installment sales receivables consist primarily of receivables due from customers for the sale of merchandise in our retail installment stores. Installment sales receivable associated with the sale of merchandise at our Get It Now and Home Choice stores generally consist of the sales price of the merchandise purchased and any additional fees for services the customer has chosen, less the customer’s down payment. No interest is accrued and interest income is recognized each time a customer makes a payment, generally on a monthly basis. Interest paid on installment agreements for the three months ended March 31, 2020 was $2.8 million. Trade and notes receivables consist primarily of amounts owed from our franchisees for inventory purchases, earned royalties and other obligations; and other corporate related receivables. Credit is extended based on an evaluation of a franchisee’s financial condition and collateral is generally not required. Trade receivables are generally due within 30 days. Receivables consist of the following: (In thousands) March 31, 2020 December 31, 2019 Installment sales receivables $ 54,545 $ 56,370 Trade and notes receivables 25,624 33,354 Total receivables 80,169 89,724 Less allowance for doubtful accounts (7,066) (5,601) Total receivables, net of allowance for doubtful accounts $ 73,103 $ 84,123 We have established an allowance for doubtful accounts for our installment notes receivable. Our policy for determining the allowance is primarily based on historical loss experience, as well as the results of management’s review and analysis of the payment and collection of the installment notes receivable within the previous year. We believe our allowance is adequate to absorb any expected losses. Our policy is to charge off installment notes receivable that are 120 days or more past due. Charge-offs are applied as a reduction to the allowance for doubtful accounts and any recoveries of previously charged off balances are applied as an increase to the allowance for doubtful accounts. The allowance for our Franchising trade and note receivables is determined by considering a number of factors, including the length of time receivables are past due, previous loss history, the franchisee’s current ability to pay its obligation, and the condition of the general economy and the industry as a whole. Trade receivables that are more than 90 days past due are either written-off or fully reserved in our allowance for doubtful accounts. Payments subsequently received on such receivables are credited to the allowance for doubtful accounts. The allowance for doubtful accounts related to trade and notes receivable was $1.6 million and $1.5 million at March 31, 2020 and December 31, 2019, respectively. The allowance for doubtful accounts related to installment sales receivable was $5.5 million and $4.1 million at March 31, 2020 and December 31, 2019, respectively. Changes in our allowance for doubtful accounts are as follows: (In thousands) March 31, 2020 Beginning allowance for doubtful accounts $ 5,601 Bad debt expense (1) 3,749 Accounts written off (2,441) Recoveries 157 Ending allowance for doubtful accounts $ 7,066 (1) Uncollectible installment payments, franchisee obligations, and other corporate receivables are recognized in other store operating expenses in our condensed consolidated financial statements.

Leases Leases (Notes)

Leases Leases (Notes)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases [Text Block]	Leases We lease space for all of our Rent-A-Center Business and Mexico stores under operating leases expiring at various times through 2026. In addition, we lease space for certain support facilities under operating leases expiring at various times through 2032. 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 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 include month-to-month leases in operating lease right-of-use assets and operating lease liabilities in 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 assignments are therefore classified as subleases and the original lease is included in our operating lease right-of-use assets and operating lease liabilities in our condensed consolidated balance sheet. We lease vehicles for all of our Rent-A-Center Business 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 them 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 not to separate the lease and non-lease components and account for these as a single component. We have also elected to use 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 our adoption of ASU 2016-02. 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 Three Months Ended (in thousands) March 31, 2020 March 31, 2019 Operating lease cost included in other store expenses (1) $ 37,439 $ 36,553 Operating lease cost included in other charges 769 2,141 Sublease receipts (2,317) (1,676) Total operating lease charges $ 35,891 $ 37,018 (1) Includes short-term lease costs, which are not significant. Supplemental cash flow information related to leases: Three Months Ended Three Months Ended (in thousands) March 31, 2020 March 31, 2019 Cash paid for amounts included in measurement of operating lease liabilities $ 29,881 $ 30,077 Cash paid for short-term operating leases not included in operating lease liabilities 6,736 6,941 Right-of-use assets obtained in exchange for new operating lease liabilities 20,619 3,927 Weighted-average discount rate and weighted-average remaining lease term: (in thousands) March 31, 2020 December 31, 2019 Weighted-average discount rate (1) 7.5 % 7.7 % Weighted-average remaining lease term (in years) 4 4 (1) January 1, 2019 incremental 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, 2020: (In thousands) Operating Leases 2020 $ 87,829 2021 91,163 2022 62,095 2023 35,677 2024 19,927 Thereafter 23,539 Total undiscounted operating lease liabilities 320,230 Less: Interest (42,478) Total present value of operating lease liabilities $ 277,752 In response to the COVID-19 pandemic and related government restrictions negatively impacting our operations, subsequent to March 31, 2020, we began renegotiating certain store lease agreements to obtain rent relief in the near term, in order to help offset the negative financial impacts of COVID-19. As of May 11, 2020, we have renegotiated approximately 440 lease agreements, receiving near term rent abatements of approximately $2.3 million and rent deferrals of approximately $1.8 million. On April 10, 2020, the Financial Accounting Standards Board ("FASB") staff issued a question-and-answer document providing guidance for lease concessions provided to lessees in response to the effects of COVID-19. Such guidance allows lessees to make an election not to evaluate whether a lease concession provided by a lessor should be accounted for as a lease modification in the event the concession does not result in a substantial increase in the rights of the lessor or the obligations of the lessee. We intend to elect this practical expedient in our accounting for any lease concessions provided for our store lease agreements.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Tax [Text Block]	Income Taxes On March 27, 2020, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act”), which includes modifications to the limitation on business interest expense deductions and net operating loss provisions. The effective tax rate was (10.6)% for the three months ended March 31, 2020, compared to 17.1% in 2019, primarily as a result of the tax benefit of net operating loss carrybacks at a 35% tax rate that became available as a result of the CARES Act.

Senior Debt (Notes)

Senior Debt (Notes)	3 Months Ended
	Mar. 31, 2020
Senior Debt [Abstract]
Senior Debt	Senior Debt, net On August 5, 2019, we entered into a new Term Loan Credit Agreement (the “Term Loan Credit Agreement”) providing for a seven-year $200 million senior secured term loan facility and an Asset Based Loan Credit Agreement (the “ABL Credit Agreement”) providing a five-year asset-based revolving credit facility (the “ABL Credit Facility”) with commitments of $300 million, the proceeds of which were used for the redemption of all of our outstanding senior notes. The amount outstanding under the Term Loan Credit Agreement was $199.0 million at March 31, 2020. The amounts outstanding and available under our ABL Credit Agreement at March 31, 2020 were $163.0 million and $48.2 million, respectively. Proceeds from the Term Loan Credit Agreement were net of original issue discount of $2.0 million upon issuance from the lenders. In addition, in connection with the closing of the Term Loan Credit Agreement and the ABL Credit Agreement, we incurred approximately $6.3 million in debt issuance costs. The original issue discount and debt issuance costs will be amortized over the remaining terms of the respective credit agreements. As of March 31, 2020, the total unamortized balance of debt issuance costs relating to our senior debt and original issue discount reported in the Condensed Consolidated Balance Sheet were $6.4 million and $1.8 million, respectively. We also utilize the ABL Credit Facility for the issuance of letters of credit. As of March 31, 2020, we have issued letters of credit in the aggregate outstanding amount of $88.8 million. In March 2020, as a precautionary measure in response to negative impacts to our operations stemming from the COVID-19 pandemic, we drew down approximately $118.0 million against our ABL Credit Facility to enhance our financial flexibility and increase our available cash on hand. The proceeds are available to be used for working capital, general corporate and other purposes, as needed. Term Loan Credit Agreement The Term Loan Credit Agreement, which matures on August 5, 2026, amortizes in equal quarterly installments at a rate of 1.00% per annum of the original principal amount thereof, with the remaining balance due at final maturity. Interest on the Term Loan Credit Agreement will accrue at the Eurodollar rate plus an applicable margin equal to 4.50%. The margin on the Term Loan Credit Agreement was 5.44% at March 31, 2020. The Term Loan Credit Agreement permits the Company to prepay the term loans, in whole or in part, without penalty on or after the six-month anniversary of the Closing Date. It also permits the Company to incur incremental term loans in an aggregate amount equal to $150 million plus the amount of voluntary prepayments of the term loans and an unlimited amount subject to a pro forma consolidated senior secured leverage ratio of not greater than 2.00 to 1.00, subject to certain other conditions. The obligations under the Term Loan Credit Agreement are guaranteed by certain of our subsidiaries. The Term Loan Credit Agreement and the guarantees are secured on a first-priority basis by substantially all of the tangible and intangible assets of the Company and the guarantors, other than collateral subject to a first-priority lien under the ABL Credit Agreement, consisting of, among other things, accounts receivable, inventory and bank accounts (and funds on deposit therein), in which the Term Loan Credit Agreement and the guarantees have a second-priority security interest, in each case, subject to certain exceptions. The Term Loan Credit Agreement contains covenants that are usual and customary for facilities and transactions of this type and that, among other things, restrict the ability of the Company and its restricted subsidiaries to: • create certain liens and enter into certain sale and lease-back transactions, excluding the sale and lease-back of the Company headquarters; • create, assume, incur or guarantee certain indebtedness; • consolidate or merge with, or convey, transfer or lease all or substantially all of the Company’s and its restricted subsidiaries’ assets, to another person • pay dividends or make other distributions on, or repurchase or redeem, the Company’s capital stock or certain other debt; and • make other restricted payments. These covenants are subject to a number of limitations and exceptions set forth in the Term Loan Credit Agreement. We are currently permitted to pay dividends and repurchase the Company's common stock without limitation. The Term Loan Credit Agreement provides for customary events of default, including, but not limited to, failure to pay principal and interest, failure to comply with covenants, agreements or conditions, and certain events of bankruptcy or insolvency involving the Company and its significant subsidiaries. ABL Credit Agreement The ABL Credit Facility will mature on August 5, 2024. The Borrowers (as defined in the ABL Credit Agreement) may borrow only up to the lesser of the level of the then-current Borrowing Base and the committed maximum borrowing capacity of $300 million. The Borrowing Base is tied to the Eligible Installment Sales Accounts, Inventory and Eligible Rental Contracts, reduced by Reserves, as defined in the ABL 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 15% of the maximum borrowing capacity of the ABL Credit Agreement or $45 million, in which case we must provide weekly information. Interest is payable on the ABL Credit Facility at a fluctuating rate of interest determined by reference to the Eurodollar rate plus an applicable margin of 1.50% to 2.00%. The margin on the ABL Credit Facility was 2.50% at March 31, 2020. A commitment fee equal to 0.250% to 0.375% of the unused portion of the ABL Credit Facility fluctuates dependent upon average utilization for the prior month as defined by a pricing grid included in the ABL Credit Agreement. The commitment fee at March 31, 2020 was 0.375%. We paid $0.6 million of commitment fees during the first quarter of 2020. Letters of credit are limited to the lesser of (x) $150 million, subject to certain limitations, and (y) the aggregate unused availability then in effect. Subject to certain conditions, the ABL Credit Facility may be expanded by up to $100 million in additional commitments, subject to a pro forma fixed charge coverage ratio being greater than 1.10 to 1.00. The obligations under the ABL Credit Agreement are guaranteed by the Company and certain of the Company’s subsidiaries. The ABL Credit Agreement and the guarantees are secured on a first-priority basis on all our and the guarantors’ accounts receivable, inventory and bank accounts (and funds on deposit therein) and a second-priority basis on all of the tangible and intangible assets (second in priority to the liens securing the Term Loan Credit Agreement) of such persons, in each case, subject to certain exceptions. The ABL Credit Agreement contains covenants that are usual and customary for facilities and transactions of this type and are substantially the same as covenants in the Term Loan Credit Agreement. The ABL Credit Facility also requires the maintenance of a Consolidated Fixed Charge Coverage Ratio (as defined in the ABL Credit Agreement) of 1.10 to 1.00 at the end of each fiscal quarter when either (i) certain specified events of default have occurred and are continuing or (ii) availability is less than or equal to the greater of $33.75 million and 15% of the line cap then in effect. The Fixed Charge Coverage Ratio as of March 31, 2020 was 1.50 to 1.00. The ABL Credit Agreement provides for customary events of default that are substantially the same as events of default in the Term Loan Credit Agreement. The table below shows the scheduled maturity dates of our outstanding debt at March 31, 2020 for each of the years ending December 31: (in thousands) Term Loan ABL Credit Facility Total 2020 $ 1,500 $ — $ 1,500 2021 2,000 — 2,000 2022 2,000 — 2,000 2023 2,000 — 2,000 2024 2,000 163,000 165,000 Thereafter 189,500 — 189,500 Total senior debt $ 199,000 $ 163,000 $ 362,000

Fair Value (Notes)

Fair Value (Notes)	3 Months Ended
	Mar. 31, 2020
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, 2020, our financial instruments include cash and cash equivalents, receivables, payables, and outstanding borrowings against our ABL Credit Facility and Term Loan Facility. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value at March 31, 2020 and December 31, 2019, because of the short maturities of these instruments. In addition, the interest rates on our Term Loan Facility and ABL Credit Facility are variable and, therefore, the carrying value of outstanding borrowings approximates their fair value.

Other Charges (Notes)

Other Charges (Notes)	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Other Charges	Other Charges Store Consolidations. During the first three months of 2020, we closed 14 Rent-A-Center Business stores, resulting in pre-tax charges of $0.5 million in lease impairment charges, and $0.3 million in other miscellaneous shutdown and holding costs. During the first three months of 2019, we closed 28 Rent-A-Center Business stores, resulting in pre-tax charges of $0.5 million in lease impairment, $0.5 million in other miscellaneous shutdown and holding costs, and $0.3 million in disposal of fixed assets. Cost Savings Initiatives. During 2018, we began the execution of multiple cost savings initiatives, including reductions in overhead and supply chain. In connection with these initiatives, we recorded pre-tax charges during the three months ended March 31, 2020 consisting of $0.3 million in lease impairment charges, and $0.2 million in other miscellaneous shutdown and holding costs. Costs incurred during the first three months of 2019 related to these initiatives included pre-tax charges 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, and $0.2 million in disposal of fixed assets. Activity with respect to other charges for the three months ended March 31, 2020 is summarized in the below table: (in thousands) Accrued Charges at December 31, 2019 Charges & Adjustments Payments & Adjustments Accrued Charges at March 31, 2020 Cash charges: Labor costs (1) $ 738 $ 141 $ (56) $ 823 Lease obligation costs (2) — 173 (173) — Other miscellaneous — 673 (673) — Total cash charges $ 738 987 $ (902) $ 823 Non-cash charges: Asset impairments (3) 886 Other (4) (170) Total other charges $ 1,703 (1) Includes payments made to furloughed employees in Puerto Rico in response to the COVID-19 pandemic. (2) Includes lease expense related to closed stores and idled vehicles due to jurisdictional ordinances in response to the COVID-19 pandemic. (3) Asset impairments primarily includes impairments of operating lease right-of-use assets and other property assets related to the closure of RTO stores and previously closed product service centers, as well as a write-down of capitalized software in the first three months of 2020. (4) Other primarily includes the receipt of insurance proceeds related to Hurricane Maria in 2017.

Segment Information (Notes)

Segment Information (Notes)	3 Months Ended
	Mar. 31, 2020
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 certain basic product categories: furniture, consumer electronics, appliances, computers, and accessories. Smartphones are also offered in our Company owned stores and franchise locations. In addition, in the Rent-A-Center Business segment, we have recently expanded into other product categories including, tools, tires, jewelry and other accessories. Segment information for the three months ended March 31, 2020 and 2019 is as follows: Three Months Ended March 31, (in thousands) 2020 2019 Revenues Rent-A-Center Business $ 454,965 $ 474,057 Preferred Lease 216,127 196,522 Mexico 13,546 13,345 Franchising 17,301 12,770 Total revenues $ 701,939 $ 696,694 Three Months Ended March 31, (in thousands) 2020 2019 Gross profit Rent-A-Center Business $ 317,558 $ 324,640 Preferred Lease 88,315 86,328 Mexico 9,528 9,269 Franchising 4,777 4,629 Total gross profit $ 420,178 $ 424,866 Three Months Ended March 31, (in thousands) 2020 2019 Operating profit Rent-A-Center Business $ 67,943 $ 53,311 Preferred Lease 18,222 21,513 Mexico 967 1,219 Franchising 2,519 1,778 Total segments 89,651 77,821 Corporate (40,776) (60,472) Total operating profit $ 48,875 $ 17,349 Three Months Ended March 31, (in thousands) 2020 2019 Depreciation and amortization Rent-A-Center Business $ 4,957 $ 5,472 Preferred Lease 527 348 Mexico 93 140 Franchising 3 30 Total segments 5,580 5,990 Corporate 9,333 9,783 Total depreciation and amortization $ 14,913 $ 15,773 Three Months Ended March 31, (in thousands) 2020 2019 Capital expenditures Rent-A-Center Business $ 980 $ 558 Preferred Lease 84 47 Mexico 37 3 Total segments 1,101 608 Corporate 8,050 1,900 Total capital expenditures $ 9,151 $ 2,508 (in thousands) March 31, 2020 December 31, 2019 On rent rental merchandise, net Rent-A-Center Business $ 400,604 $ 411,482 Preferred Lease 246,672 268,845 Mexico 13,328 16,943 Total on rent rental merchandise, net $ 660,604 $ 697,270 (in thousands) March 31, 2020 December 31, 2019 Held for rent rental merchandise, net Rent-A-Center Business $ 115,698 $ 131,086 Preferred Lease 715 1,254 Mexico 4,517 6,078 Total held for rent rental merchandise, net $ 120,930 $ 138,418 (in thousands) March 31, 2020 December 31, 2019 Assets by segment Rent-A-Center Business $ 898,795 $ 953,151 Preferred Lease 334,440 357,859 Mexico 28,086 33,707 Franchising 9,491 11,095 Total segments 1,270,812 1,355,812 Corporate 336,247 226,986 Total assets $ 1,607,059 $ 1,582,798

Stock-Based Compensation (Notes

Stock-Based Compensation (Notes)	3 Months Ended
	Mar. 31, 2020
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Common Stock and Stock-Based Compensation In March 2020, our Board of Directors implemented a stock repurchase program, which authorizes the purchase, from time to time, in the open market and privately negotiated transactions, of up to an aggregate of $75 million of Rent-A-Center common stock, superseding our prior authorization. During the three months ended March 31, 2020, the Company repurchased 1,461,177 shares of its common stock for an aggregate purchase price of $26.5 million, which includes shares with an aggregate purchase price of $16.5 million under the March 2020 authorization. No shares were repurchased during the three months ending March 31, 2019. As noted in Note 7 above, in response to COVID-19, we have proactively taken measures to reduce certain cash flow uses, including temporarily suspending additional share repurchases. We recognized $3.0 million and $0.7 million in compensation expense related to stock options and restricted stock units during the three months ended March 31, 2020 and 2019, respectively. During the three months ended March 31, 2020, we granted approximately 303,000 stock options, 268,000 market-based performance restricted stock units and 181,000 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 45.62% to 51.62%, a risk-free interest rate of 1.14% to 1.72%, an expected dividend yield of 4.02% to 4.68%, and an expected term of 3.50 to 5.75 years. The weighted-average exercise price of the options granted during the three months ended March 31, 2020 was $7.32 and the weighted-average grant-date fair value was $25.74. 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 market-based performance and time-vesting restricted stock units granted during the three months ended March 31, 2020 was $30.24 and $25.43, respectively.

Contingencies (Notes)

Contingencies (Notes)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies From time to time, the Company, along with its subsidiaries, is party to various legal proceedings and governmental inquiries 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 inquiries, 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. California Attorney General. The California Attorney General (“CAG”) previously issued an investigative subpoena to the Company seeking information with respect to the Company’s Acceptance Now business practices (now part of the Preferred Lease segment). The request for documents and information was sought in connection with a broader investigation of the rent-to-own industry in California. Since receiving such demand, the Company has cooperated with the CAG in connection with its investigation and made several productions of requested documents. In March 2020, the CAG put forth proposed settlement terms to address alleged violations of California law. The proposed settlement terms include civil penalties, disgorgement of certain revenues, additional training requirements, and recommended changes to Acceptance Now business practices. We believe that our business practices are in compliance with California law and are continuing to discuss resolution of the inquiry

Earnings Per Common Share (Note

Earnings Per Common Share (Notes)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings 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) 2020 2019 Numerator: Net earnings $ 49,292 $ 7,323 Denominator: Weighted-average shares outstanding 54,774 53,930 Effect of dilutive stock awards 1,378 1,566 Weighted-average dilutive shares 56,152 55,496 Basic earnings per common share $ 0.90 $ 0.14 Diluted earnings per common share $ 0.88 $ 0.13 Anti-dilutive securities excluded from diluted loss per common share: Anti-dilutive restricted share units 148 — Anti-dilutive performance share units 519 — Anti-dilutive stock options 1,357 1,019

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	These financial statements included herein 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 June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires immediate recognition of estimated current expected credit losses, rather than recognition when incurred. We adopted ASU 2016-13 and all related amendments, including ASU 2020-02 and ASU 2020-03, beginning January 1, 2020, using a modified retrospective approach. Under such approach, we recognized a cumulative-effect of the guidance as an adjustment to the opening balance of retained earnings for the quarter ended March 31, 2020. The application of this new methodology is limited to our installment notes receivables and trade receivables with our franchisees, primarily related to merchandise sales. The comparative information has not been restated and continues to be reported under the accounting standards in effect for periods ending prior to January 1, 2020. The cumulative effect as of January 1, 2020 resulting from the adoption of ASU 2016-13 and related amendments was a net decrease to opening retained earnings in our Condensed Consolidated Balance Sheet of $0.8 million. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the subsequent measurement of goodwill by eliminating the hypothetical purchase price allocation and instead using the difference between the carrying amount and the fair value of the reporting unit. We adopted ASU 2017-04 beginning January 1, 2020, using a prospective approach. There was no impact to our financial statements for the three months ended March 31, 2020 resulting from the adoption of this ASU. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which removes, modifies, and adds certain disclosure requirements in ASC 820, to improve the effectiveness of the fair value measurement disclosures. We adopted ASU 2018-13 beginning January 1, 2020, using a prospective approach. There was no impact to our financial statements for the three months ended March 31, 2020 resulting from the adoption of this ASU. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40); Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement, which requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customer in a software licensing agreement under the internal-use software guidance in ASC 350-40. We adopted ASU 2018-15 beginning January 1, 2020, using a prospective approach. Impacts to our financial statements resulting from the adoption of this ASU were immaterial to our financial statements for the three months ended March 31, 2020.

Acquisitions Acquisitions (Tabl

Acquisitions Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2020
Acquisitions [Abstract]
Acquisition assets acquired and liabilities assumed [Table Text Block]	Assets acquired and liabilities assumed in connection with the acquisition have been recorded at their fair values. The following table provides the final estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date: (in thousands) August 13, 2019 Receivables $ 1,813 Prepaid expenses and other assets 154 Rental merchandise 17,904 Software 4,300 Right of use operating leases 404 Other intangible assets 8,900 Goodwill 13,403 Lease liabilities (487) Net identifiable assets acquired $ 46,391

Revenues Revenues (Tables)

Revenues Revenues (Tables)	3 Months Ended
	Mar. 31, 2020
Revenues [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table disaggregates our revenue for the periods ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 Rent-A-Center Business Preferred Lease Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 393,165 $ 161,998 $ 12,837 $ — $ 568,000 Merchandise sales 46,687 53,988 705 — 101,380 Installment sales 14,747 — — — 14,747 Other 366 141 4 211 722 Total store revenues 454,965 216,127 13,546 211 684,849 Franchise Merchandise sales — — — 12,437 12,437 Royalty income and fees — — — 4,653 4,653 Total revenues $ 454,965 $ 216,127 $ 13,546 $ 17,301 $ 701,939 Three Months Ended March 31, 2019 Rent-A-Center Business Preferred Lease 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

Receivables and Allowance for_2

Receivables and Allowance for Doubtful Accounts Receivables and Allowance for Doubtful Accounts (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables and Allowance for Doubtful Accounts [Abstract]
Receivables [Table Text Block]	Receivables consist of the following: (In thousands) March 31, 2020 December 31, 2019 Installment sales receivables $ 54,545 $ 56,370 Trade and notes receivables 25,624 33,354 Total receivables 80,169 89,724 Less allowance for doubtful accounts (7,066) (5,601) Total receivables, net of allowance for doubtful accounts $ 73,103 $ 84,123
Changes in allowance for doubtful accounts [Table Text Block]	Changes in our allowance for doubtful accounts are as follows: (In thousands) March 31, 2020 Beginning allowance for doubtful accounts $ 5,601 Bad debt expense (1) 3,749 Accounts written off (2,441) Recoveries 157 Ending allowance for doubtful accounts $ 7,066 (1) Uncollectible installment payments, franchisee obligations, and other corporate receivables are recognized in other store operating expenses in our condensed consolidated financial statements.

Leases Leases (Tables)

Leases Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Operating lease costs [Table Text Block]	Total operating lease costs by expense type: Three Months Ended Three Months Ended (in thousands) March 31, 2020 March 31, 2019 Operating lease cost included in other store expenses (1) $ 37,439 $ 36,553 Operating lease cost included in other charges 769 2,141 Sublease receipts (2,317) (1,676) Total operating lease charges $ 35,891 $ 37,018 (1) Includes short-term lease costs, which are not significant. Supplemental cash flow information related to leases: Three Months Ended Three Months Ended (in thousands) March 31, 2020 March 31, 2019 Cash paid for amounts included in measurement of operating lease liabilities $ 29,881 $ 30,077 Cash paid for short-term operating leases not included in operating lease liabilities 6,736 6,941 Right-of-use assets obtained in exchange for new operating lease liabilities 20,619 3,927 Weighted-average discount rate and weighted-average remaining lease term: (in thousands) March 31, 2020 December 31, 2019 Weighted-average discount rate (1) 7.5 % 7.7 % Weighted-average remaining lease term (in years) 4 4 (1) January 1, 2019 incremental 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, 2020: (In thousands) Operating Leases 2020 $ 87,829 2021 91,163 2022 62,095 2023 35,677 2024 19,927 Thereafter 23,539 Total undiscounted operating lease liabilities 320,230 Less: Interest (42,478) Total present value of operating lease liabilities $ 277,752

Senior debt (Tables)

Senior debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt [Table Text Block]	The table below shows the scheduled maturity dates of our outstanding debt at March 31, 2020 for each of the years ending December 31: (in thousands) Term Loan ABL Credit Facility Total 2020 $ 1,500 $ — $ 1,500 2021 2,000 — 2,000 2022 2,000 — 2,000 2023 2,000 — 2,000 2024 2,000 163,000 165,000 Thereafter 189,500 — 189,500 Total senior debt $ 199,000 $ 163,000 $ 362,000

Other Charges (Tables)

Other Charges (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Other Charges [Table Text Block]	Activity with respect to other charges for the three months ended March 31, 2020 is summarized in the below table: (in thousands) Accrued Charges at December 31, 2019 Charges & Adjustments Payments & Adjustments Accrued Charges at March 31, 2020 Cash charges: Labor costs (1) $ 738 $ 141 $ (56) $ 823 Lease obligation costs (2) — 173 (173) — Other miscellaneous — 673 (673) — Total cash charges $ 738 987 $ (902) $ 823 Non-cash charges: Asset impairments (3) 886 Other (4) (170) Total other charges $ 1,703 (1) Includes payments made to furloughed employees in Puerto Rico in response to the COVID-19 pandemic. (2) Includes lease expense related to closed stores and idled vehicles due to jurisdictional ordinances in response to the COVID-19 pandemic. (3) Asset impairments primarily includes impairments of operating lease right-of-use assets and other property assets related to the closure of RTO stores and previously closed product service centers, as well as a write-down of capitalized software in the first three months of 2020. (4) Other primarily includes the receipt of insurance proceeds related to Hurricane Maria in 2017.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Information [Abstract]
Segment Information	Segment information for the three months ended March 31, 2020 and 2019 is as follows: Three Months Ended March 31, (in thousands) 2020 2019 Revenues Rent-A-Center Business $ 454,965 $ 474,057 Preferred Lease 216,127 196,522 Mexico 13,546 13,345 Franchising 17,301 12,770 Total revenues $ 701,939 $ 696,694 Three Months Ended March 31, (in thousands) 2020 2019 Gross profit Rent-A-Center Business $ 317,558 $ 324,640 Preferred Lease 88,315 86,328 Mexico 9,528 9,269 Franchising 4,777 4,629 Total gross profit $ 420,178 $ 424,866 Three Months Ended March 31, (in thousands) 2020 2019 Operating profit Rent-A-Center Business $ 67,943 $ 53,311 Preferred Lease 18,222 21,513 Mexico 967 1,219 Franchising 2,519 1,778 Total segments 89,651 77,821 Corporate (40,776) (60,472) Total operating profit $ 48,875 $ 17,349 Three Months Ended March 31, (in thousands) 2020 2019 Depreciation and amortization Rent-A-Center Business $ 4,957 $ 5,472 Preferred Lease 527 348 Mexico 93 140 Franchising 3 30 Total segments 5,580 5,990 Corporate 9,333 9,783 Total depreciation and amortization $ 14,913 $ 15,773 Three Months Ended March 31, (in thousands) 2020 2019 Capital expenditures Rent-A-Center Business $ 980 $ 558 Preferred Lease 84 47 Mexico 37 3 Total segments 1,101 608 Corporate 8,050 1,900 Total capital expenditures $ 9,151 $ 2,508 (in thousands) March 31, 2020 December 31, 2019 On rent rental merchandise, net Rent-A-Center Business $ 400,604 $ 411,482 Preferred Lease 246,672 268,845 Mexico 13,328 16,943 Total on rent rental merchandise, net $ 660,604 $ 697,270 (in thousands) March 31, 2020 December 31, 2019 Held for rent rental merchandise, net Rent-A-Center Business $ 115,698 $ 131,086 Preferred Lease 715 1,254 Mexico 4,517 6,078 Total held for rent rental merchandise, net $ 120,930 $ 138,418 (in thousands) March 31, 2020 December 31, 2019 Assets by segment Rent-A-Center Business $ 898,795 $ 953,151 Preferred Lease 334,440 357,859 Mexico 28,086 33,707 Franchising 9,491 11,095 Total segments 1,270,812 1,355,812 Corporate 336,247 226,986 Total assets $ 1,607,059 $ 1,582,798

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings 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) 2020 2019 Numerator: Net earnings $ 49,292 $ 7,323 Denominator: Weighted-average shares outstanding 54,774 53,930 Effect of dilutive stock awards 1,378 1,566 Weighted-average dilutive shares 56,152 55,496 Basic earnings per common share $ 0.90 $ 0.14 Diluted earnings per common share $ 0.88 $ 0.13 Anti-dilutive securities excluded from diluted loss per common share: Anti-dilutive restricted share units 148 — Anti-dilutive performance share units 519 — Anti-dilutive stock options 1,357 1,019

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ASU adoption adjustment	$ 800	$ (769)	$ (1,976)

Acquisitions Acquisitions (Deta

Acquisitions Acquisitions (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020	Aug. 13, 2019
Business Acquisition [Line Items]
Acquisition date	Aug. 13, 2019
Acquired entity	Merchants Preferred
Description of acquired entity	a nationwide provider of virtual lease-to-own services
Aggregate purchase price	$ 46,400
Cash consideration	$ 28,000
Common stock consideration	701,918 shares of our common stock
Common stock price			$ 27.31
Working capital adjustment	$ 900
Goodwill	$ 70,217	$ 70,217
Description of goodwill recognized	consists of the excess of the net purchase price over the fair value of the net assets acquired
Merchants Preferred [Member]
Business Acquisition [Line Items]
Receivables			$ 1,813
Prepaid expenses and other assets			154
Rental merchandise			17,904
Software			4,300
Right of use operating leases			404
Other intangible assets			8,900
Goodwill			13,403
Lease liabilities			(487)
Net identifiable assets acquired			$ 46,391
Intangible assets remaining lives	10 years

Revenues Revenues (Details)

Revenues Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Rentals and fees	$ 568,000	$ 563,354
Merchandise sales	101,380	104,470
Installment sales	14,747	15,436
Other	722	664
Total store revenues	684,849	683,924
Merchandise sales	12,437	8,456
Royalty income and fees	4,653	4,314
Total revenues	701,939	696,694
Rental purchase agreements [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	37,300		$ 39,900
Other product plans [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	2,900		2,900
Franchise fees [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	4,400		$ 4,500
Rent-A-Center Business [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	393,165	407,580
Merchandise sales	46,687	50,558
Installment sales	14,747	15,436
Other	366	483
Total store revenues	454,965	474,057
Merchandise sales	0	0
Royalty income and fees	0	0
Total revenues	454,965	474,057
Preferred Lease [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	161,998	143,193
Merchandise sales	53,988	53,156
Installment sales	0	0
Other	141	173
Total store revenues	216,127	196,522
Merchandise sales	0	0
Royalty income and fees	0	0
Total revenues	216,127	196,522
Mexico [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	12,837	12,581
Merchandise sales	705	756
Installment sales	0	0
Other	4	8
Total store revenues	13,546	13,345
Merchandise sales	0	0
Royalty income and fees	0	0
Total revenues	13,546	13,345
Franchising [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	0	0
Merchandise sales	0	0
Installment sales	0	0
Other	211	0
Total store revenues	211	0
Merchandise sales	12,437	8,456
Royalty income and fees	4,653	4,314
Total revenues	$ 17,301	$ 12,770

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, 2020	Dec. 31, 2019
Receivables [Line Items]
Interest paid on installment agreements	$ 2,800
Accounts Receivable, before Allowance for Credit Loss	80,169	$ 89,724
Receivables, net of allowance for doubtful accounts of $7,066 and $5,601 in 2020 and 2019, respectively	73,103	84,123
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts	7,066	5,601
Bad debt expense	3,749
Accounts written off	(2,441)
Recoveries	157
Installment sales receivable [Member]
Receivables [Line Items]
Accounts Receivable, before Allowance for Credit Loss	54,545	56,370
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts	5,500	4,100
Trade and notes receivables [Member]
Receivables [Line Items]
Accounts Receivable, before Allowance for Credit Loss	25,624	33,354
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts	$ 1,600	$ 1,500

Leases Leases (Details)

Leases Leases (Details) $ in Thousands	May 11, 2020USD ($)store	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Operating lease charges		$ 35,891	$ 37,018
Sublease receipts		(2,317)	(1,676)
Cash paid for amounts included in measurement of operating lease liabilities		29,881	30,077
Cash paid for short-term operating leases not included in operating lease liabilities		6,736	6,941
Right-of-use assets obtained in exchange for new operating lease liabilities		$ 20,619	3,927
Weighted-average discount rate		7.50%		7.70%
Weighted average remaining lease term		4 years		4 years
2020		$ 87,829
2021		91,163
2022		62,095
2023		35,677
2024		19,927
Thereafter		23,539
Total undiscounted operating lease liabilities		320,230
Less: Interest		(42,478)
Operating lease liabilities		277,752		$ 285,041
Subsequent Event [Member]
Lessee, Lease, Description [Line Items]
Operating lease, number of units | store	440
Subsequent Event [Member] | Abatement [Member]
Lessee, Lease, Description [Line Items]
Payments for Rent	$ 2,300
Subsequent Event [Member] | Deferral [Member]
Lessee, Lease, Description [Line Items]
Payments for Rent	$ 1,800
Other store expenses [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges		37,439	36,553
Other charges [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges		$ 769	$ 2,141

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	(10.60%)	17.10%

Senior Debt (Details)

Senior Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Aug. 05, 2019
Debt Instrument [Line Items]
Senior debt, net	$ 362,000,000
Original issue discount		$ 2,000,000
Debt issuance costs		$ 6,300,000
Letters of credit, amount outstanding	88,800,000
Proceeds from ABL Credit Facility	$ 118,000,000
Actual fixed charge coverage ratio	1.50
2020	$ 1,500,000
2021	2,000,000
2022	2,000,000
2023	2,000,000
2024	165,000,000
Thereafter	189,500,000
Original Issue Discount [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	1,800,000
Debt Issuance Costs [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	6,400,000
Term loan credit [Member]
Debt Instrument [Line Items]
Senior debt, net	$ 199,000,000
Maturity date	Aug. 5, 2026
Debt Instrument, Frequency of Periodic Payment	quarterly
Debt Instrument, Periodic Payment, Percent	1.00%
Incremental term loans available	$ 150,000,000
Required consolidated senior secured leverage ratio, minimum	2
2020	$ 1,500,000
2021	2,000,000
2022	2,000,000
2023	2,000,000
2024	2,000,000
Thereafter	189,500,000
Term loan credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Senior debt, net	$ 200,000,000
Term loan credit [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis margin on variable rate	4.50%
Actual margin on variable rate	5.44%
ABL credit facility [Member]
Debt Instrument [Line Items]
Senior debt, net	$ 163,000,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 48,200,000
Maturity date	Aug. 5, 2024
Line of credit commitment fee percentage	0.375%
Line of credit commitment fee	$ 600,000
Line of credit additional borrowing capacity	$ 100,000,000
Required proforma fixed charge coverage ratio, minimum	1.10
Required consolidated fixed charge coverage ratio, minimum	1.10
2020	$ 0
2021	0
2022	0
2023	0
2024	163,000,000
Thereafter	$ 0
ABL credit facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of credit commitment fee percentage	0.25%
ABL credit facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Senior debt, net	$ 300,000,000
Letters of credit, amount outstanding	$ 150,000,000
Line of credit commitment fee percentage	0.375%
ABL credit facility [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Actual margin on variable rate	2.50%
ABL credit facility [Member] | Eurodollar [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis margin on variable rate	1.50%
ABL credit facility [Member] | Eurodollar [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis margin on variable rate	2.00%

Other Charges (Details)

Other Charges (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)store	Mar. 31, 2019USD ($)store	Dec. 31, 2019USD ($)
Restructuring Reserve [Roll Forward]
Accrued Charges	$ 823		$ 738
Charges & Adjustments	987
Payments & Adjustments	(902)
Asset impairments	886
Other charges	1,703	$ 33,370
Non-Cash Charges [Member]
Restructuring Reserve [Roll Forward]
Other	(170)
Labor reduction costs [Member]
Restructuring Reserve [Roll Forward]
Accrued Charges	823		738
Charges & Adjustments	141
Payments & Adjustments	(56)
Lease obligation costs [Member]
Restructuring Reserve [Roll Forward]
Accrued Charges	0		0
Charges & Adjustments	173
Payments & Adjustments	(173)
Other miscellaneous [Member]
Restructuring Reserve [Roll Forward]
Accrued Charges	0		$ 0
Charges & Adjustments	673
Payments & Adjustments	(673)
Store Consolidation Plan [Member] | Lease obligation costs [Member]
Restructuring Reserve [Roll Forward]
Charges & Adjustments	500	500
Store Consolidation Plan [Member] | Other miscellaneous [Member]
Restructuring Reserve [Roll Forward]
Charges & Adjustments	$ 300	500
Store Consolidation Plan [Member] | Disposal of fixed assets [Member]
Restructuring Reserve [Roll Forward]
Asset Impairment Charges		$ 300
Store Consolidation Plan [Member] | Rent-A-Center Business [Member]
Restructuring Reserve [Roll Forward]
Stores closed | store	14	28
Cost Savings Initiative [Member] | Labor reduction costs [Member]
Restructuring Reserve [Roll Forward]
Charges & Adjustments		$ 3,000
Cost Savings Initiative [Member] | Lease obligation costs [Member]
Restructuring Reserve [Roll Forward]
Charges & Adjustments	$ 300	4,400
Cost Savings Initiative [Member] | Other miscellaneous [Member]
Restructuring Reserve [Roll Forward]
Charges & Adjustments	$ 200	1,100
Cost Savings Initiative [Member] | Disposal of fixed assets [Member]
Restructuring Reserve [Roll Forward]
Asset Impairment Charges		$ 200

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 701,939	$ 696,694
Gross profit	420,178	424,866
Operating profit	48,875	17,349
Depreciation and amortization	14,913	15,773
Capital expenditures	9,151	2,508
Rental merchandise on rent, net	660,604		$ 697,270
Rental merchandise held for rent, net	120,930		138,418
Assets	1,607,059		1,582,798
Rent-A-Center Business [Member]
Segment Reporting Information [Line Items]
Total revenues	454,965	474,057
Gross profit	317,558	324,640
Operating profit	67,943	53,311
Depreciation and amortization	4,957	5,472
Capital expenditures	980	558
Rental merchandise on rent, net	400,604		411,482
Rental merchandise held for rent, net	115,698		131,086
Assets	898,795		953,151
Preferred Lease [Member]
Segment Reporting Information [Line Items]
Total revenues	216,127	196,522
Gross profit	88,315	86,328
Operating profit	18,222	21,513
Depreciation and amortization	527	348
Capital expenditures	84	47
Rental merchandise on rent, net	246,672		268,845
Rental merchandise held for rent, net	715		1,254
Assets	334,440		357,859
Mexico [Member]
Segment Reporting Information [Line Items]
Total revenues	13,546	13,345
Gross profit	9,528	9,269
Operating profit	967	1,219
Depreciation and amortization	93	140
Capital expenditures	37	3
Rental merchandise on rent, net	13,328		16,943
Rental merchandise held for rent, net	4,517		6,078
Assets	28,086		33,707
Franchising [Member]
Segment Reporting Information [Line Items]
Total revenues	17,301	12,770
Gross profit	4,777	4,629
Operating profit	2,519	1,778
Depreciation and amortization	3	30
Assets	9,491		11,095
Total Segments [Member]
Segment Reporting Information [Line Items]
Operating profit	89,651	77,821
Depreciation and amortization	5,580	5,990
Capital expenditures	1,101	608
Assets	1,270,812		1,355,812
Corporate [Member]
Segment Reporting Information [Line Items]
Operating profit	(40,776)	(60,472)
Depreciation and amortization	9,333	9,783
Capital expenditures	8,050	$ 1,900
Assets	$ 336,247		$ 226,986

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount	$ 75,000
Treasury Stock, Shares, Acquired	1,461,177	0
Purchase of treasury stock	$ 26,525
Stock Repurchased During Period, Value	16,500
Stock-based compensation expense	$ 3,043	$ 709
Stock options granted	303,000
Performance-based restricted stock units granted	268,000
Time-vesting restricted stock units granted	181,000
Expected volatility rate, minimum	45.62%
Expected volatility rate, maximum	51.62%
Risk free interest rate, minimum	1.14%
Risk free interest rate, maximum	1.72%
Weighted average exercise price of options granted	$ 7.32
Weighted average grant date fair value of options granted	$ 25.74
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	4.02%
Expected term	3 years 6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	4.68%
Expected term	5 years 9 months
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of restricted stock units granted	$ 30.24
Performance-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of restricted stock units granted	$ 25.43

Earnings Per Common Share Earni

Earnings Per Common Share Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Common Share
Net earnings	$ 49,292	$ 7,323
Weighted-average shares outstanding	54,774	53,930
Effect of dilutive stock awards	1,378	1,566
Weighted-average dilutive shares	56,152	55,496
Basic earnings per common share	$ 0.90	$ 0.14
Diluted earnings per common share	$ 0.88	$ 0.13
Retained Earnings [Member]
Earnings Per Common Share
Net earnings		$ 7,323
Restricted share units [Member]
Earnings Per Common Share
Anti-dilutive securities	148	0
Performance-based restricted stock units [Member]
Earnings Per Common Share
Anti-dilutive securities	519	0
Stock options [Member]
Earnings Per Common Share
Anti-dilutive securities	1,357	1,019