Upbound (UPBD) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Document and Company Informatio

Document and Company Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 27, 2022
Document And Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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 Shell Company	false
Entity Common Stock, Shares Outstanding		59,198,975
Entity Registrant Name	RENT A CENTER INC DE
Entity Central Index Key	0000933036
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Sep. 21, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Store
Rentals and fees		$ 857,298	$ 916,405	$ 1,740,345	$ 1,661,939
Merchandise sales		160,769	221,229	393,649	454,022
Installment sales		18,548	18,191	35,637	35,964
Other		1,068	1,035	2,358	1,953
Total store revenues		1,037,683	1,156,860	2,171,989	2,153,878
Franchise
Merchandise sales		26,505	29,616	45,026	62,671
Royalty income and fees		7,067	7,499	13,961	14,208
Total revenues		1,071,255	1,193,975	2,230,976	2,230,757
Store
Cost of rentals and fees		319,943	320,873	658,576	567,908
Cost of merchandise sold		185,735	249,853	436,066	489,959
Cost of installment sales		6,426	6,234	12,347	12,275
Total cost of store revenues		512,104	576,960	1,106,989	1,070,142
Franchise cost of merchandise sold		26,607	29,543	45,349	62,620
Total cost of revenues		538,711	606,503	1,152,338	1,132,762
Gross profit		532,544	587,472	1,078,638	1,097,995
Store expenses
Labor		163,956	159,337	330,559	316,044
Other store expenses		199,091	181,012	426,459	351,145
General and administrative expenses		44,868	54,385	101,271	103,510
Depreciation and amortization		12,880	13,566	27,410	26,959
Other charges		53,668	72,653	123,816	123,772
Total operating expenses		474,463	480,953	1,009,515	921,430
Operating profit		58,081	106,519	69,123	176,565
Debt refinancing charges	$ 1,400	0	0	0	8,743
Interest expense		19,089	20,435	38,058	32,425
Interest income		(92)	(44)	(137)	(118)
Earnings before income taxes		39,084	86,128	31,202	135,515
Income tax expense		19,359	24,819	15,714	31,654
Net earnings		$ 19,725	$ 61,309	$ 15,488	$ 103,861
Basic earnings per common share		$ 0.37	$ 1.05	$ 0.29	$ 1.81
Diluted earnings per common share		0.33	0.90	0.26	1.55
Cash dividends declared per common share		$ 0.34	$ 0.31	$ 0.68	$ 0.62

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income Statement - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Comprehensive (Loss) Income [Abstract]
Net earnings	$ 19,725	$ 61,309	$ 15,488	$ 103,861
Foreign currency translation adjustments, net of tax of $(26) and $238, $150 and $11 for the three and six months ended June 30, 2022 and 2021, respectively	(97)	896	564	43
Total other comprehensive (loss) income	(97)	896	564	43
Comprehensive income	19,628	62,205	16,052	103,904
Foreign currency translation adjustments, net of tax of $(26) and $238, $150 and $11 for the three and six months ended June 30, 2022 and 2021, respectively	$ (26)	$ 238	$ 150	$ 11

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 112,175	$ 108,333
Receivables, net of allowance for doubtful accounts of $9,226 and $8,479 in 2022 and 2021, respectively	122,594	126,378
Allowance for doubtful accounts	9,226	8,479
Prepaid expenses and other assets	59,476	63,468
Rental merchandise, net
On rent	977,178	1,173,024
Held for rent	140,770	132,984
Merchandise held for installment sale	5,994	6,405
Property assets, net of accumulated depreciation of $586,669 and $557,453 in 2022 and 2021, respectively	298,134	308,098
Property assets, accumulated depreciation	586,669	557,453
Operating lease right-of-use assets	304,376	291,338
Deferred tax asset	68,339	68,391
Goodwill	289,761	289,750
Other intangible assets, net	388,335	425,158
Assets	2,767,132	2,993,327
LIABILITIES
Accounts payable – trade	120,688	135,666
Accrued liabilities	318,099	362,708
Operating lease liabilities	307,125	296,535
Deferred tax liability	92,401	113,943
Senior debt, net	933,019	1,135,207
Senior notes, net	436,966	435,992
Total liabilities	2,208,298	2,480,051
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value; 250,000,000 shares authorized; 124,980,516 and 124,398,373 shares issued in June 30, 2022 and December 31, 2021, respectively	$ 1,071	$ 1,065
Common stock - par value	$ 0.01
Common stock - shares authorized	250,000,000
Common stock - shares issued	124,980,516	124,398,373
Additional paid-in capital	$ 1,216,176	$ 1,146,509
Retained earnings	1,118,968	1,143,647
Treasury stock at cost, 65,790,667 shares in June 30, 2022 and December 31, 2021	$ (1,765,574)	$ (1,765,574)
Treasury stock - shares at cost	65,790,667	65,790,667
Accumulated other comprehensive loss	$ (11,807)	$ (12,371)
Total Stockholders' Equity	558,834	513,276
Total Liabilities and Stockholders' Equity	$ 2,767,132	$ 2,993,327

Condensed Consolidated Statem_3

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 Loss [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, shares, outstanding		112,181
Total stockholders' equity	$ 592,080	$ 1,105	$ 886,902	$ 1,091,010	$ (1,375,541)	$ (11,396)
Net earnings	42,552			42,552
Total other comprehensive (loss) income	(853)					(853)
Exercise of stock options, shares		330
Exercise of stock options	8,944	$ 3	8,941
Vesting of restricted share units, net of shares withheld for employee taxes, shares		902
Vesting of restricted share units, net of shares withheld for employee taxes	(20,903)	$ 7	(20,910)
Stock-based compensation	20,148		20,148
Dividends declared	(20,722)			(20,722)
Acima Acquisition, shares		10,780
Acima Acquisition	120,941	$ 27	120,914
Net earnings	103,861			103,861
Total other comprehensive (loss) income	43
Common stock, shares, outstanding		124,193
Total stockholders' equity	742,187	$ 1,142	1,015,995	1,112,840	(1,375,541)	(12,249)
Net earnings	61,309			61,309
Total other comprehensive (loss) income	896					896
Exercise of stock options, shares		96
Exercise of stock options	1,682	$ 1	1,681
Vesting of restricted share units, net of shares withheld for employee taxes, shares		58
Vesting of restricted share units, net of shares withheld for employee taxes	1	$ 1	0
Stock-based compensation	39,566		39,566
Dividends declared	(20,477)			(20,477)
Common stock, shares, outstanding		124,347
Total stockholders' equity	825,164	$ 1,144	1,057,242	1,153,672	(1,375,541)	(11,353)
Common stock, shares, outstanding		124,398
Total stockholders' equity	513,276	$ 1,065	1,146,509	1,143,647	(1,765,574)	(12,371)
Net earnings	(4,237)			(4,237)
Total other comprehensive (loss) income	661					661
Exercise of stock options, shares		22
Exercise of stock options	477	$ 1	476
Vesting of restricted share units, net of shares withheld for employee taxes, shares		424
Vesting of restricted share units, net of shares withheld for employee taxes	0	$ 4	(4)
Tax effect of stock awards vested and options exercised	(8,466)		(8,466)
Stock-based compensation	41,410		41,410
Dividends declared	(20,063)			(20,063)
Net earnings	15,488			15,488
Total other comprehensive (loss) income	564
Common stock, shares, outstanding		124,844
Total stockholders' equity	523,058	$ 1,070	1,179,925	1,119,347	(1,765,574)	(11,710)
Net earnings	19,725			19,725
Total other comprehensive (loss) income	(97)
Exercise of stock options, shares		52
Exercise of stock options	783	$ 0	783
Vesting of restricted share units, net of shares withheld for employee taxes, shares		85
Vesting of restricted share units, net of shares withheld for employee taxes	0	$ 1	(1)
Tax effect of stock awards vested and options exercised	(969)		(969)
Stock-based compensation	36,438		36,438
Dividends declared	(20,104)			(20,104)
Common stock, shares, outstanding		124,981
Total stockholders' equity	$ 558,834	$ 1,071	$ 1,216,176	$ 1,118,968	$ (1,765,574)	$ (11,807)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net earnings	$ 15,488	$ 103,861
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation of rental merchandise	637,870	547,034
Bad debt expense	9,494	6,058
Stock-based compensation expense	77,848	59,714
Depreciation of property assets	34,854	31,782
Loss on sale or disposal of property assets	5,998	249
Amortization of intangibles	36,881	43,712
Amortization of financing fees	3,161	2,917
Write-off of debt financing fees	0	4,546
Deferred income taxes	(21,712)	21,320
Changes in operating assets and liabilities, net of acquired assets
Rental merchandise	(449,040)	(555,856)
Receivables	(5,711)	(6,384)
Prepaid expenses and other assets	3,981	4,524
Operating lease right-of-use assets and lease liabilities	(2,449)	(265)
Accounts payable – trade	(14,978)	(28,030)
Accrued liabilities	(44,564)	15,336
Net cash provided by operating activities	287,121	250,518
Cash flows from investing activities
Purchase of property assets	(30,895)	(25,401)
Proceeds from sale of property assets	8	0
Acquisitions of businesses	417	1,273,542
Net cash used in investing activities	(31,304)	(1,298,943)
Cash flows from financing activities
Exercise of stock options	1,260	10,626
Shares withheld for payment of employee tax withholdings	(9,436)	(20,903)
Debt issuance costs	0	46,085
Proceeds from debt	90,000	1,490,000
Repayments of debt	(294,375)	(364,688)
Dividends paid	39,492	35,054
Net cash (used in) provided by financing activities	(252,043)	1,033,896
Effect of exchange rate changes on cash	68	152
Net increase (decrease) in cash and cash equivalents	3,842	(14,377)
Cash and cash equivalents at beginning of period	108,333	159,449
Cash and cash equivalents at end of period	$ 112,175	$ 145,072

Basis of Presentation (Notes)

Basis of Presentation (Notes)	6 Months Ended
	Jun. 30, 2022
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, 2021. 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. 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, such as the future unknown impacts of the COVID-19 pandemic and other macroeconomic factors, including recent significant increases to the consumer price index, a condensed labor market, wage inflation, and global supply chain issues 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 The 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 the “Company”, “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, Acima (formerly 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 Rent-A-Center Business segment operates through our company-owned stores and e-commerce platform through rentacenter.com. Our Acima segment, which operates in the United States and Puerto Rico, which includes the operations of Acima Holdings (as defined in Note 2 below) acquired in February 2021 and our previous Preferred Lease virtual and staffed locations, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer through staffed or unstaffed kiosks located within such retailer’s locations, or other virtual location options. Virtual locations 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. 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.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Notes)	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Acquisitions and divestitures	Acquisitions and Divestitures On February 17, 2021, we completed the acquisition of Acima Holdings, LLC (“Acima Holdings”). Acima Holdings is a leading platform offering customers virtual lease-to-own solutions at the point-of-sale via web and mobile technology. In accordance with the agreement and plan of merger entered into in connection with the transaction (the “Merger Agreement”), we issued to the former owners of Acima Holdings an aggregate of 10,779,923 shares of our common stock (the “Aggregate Stock Consideration”) and paid to them aggregate cash consideration of $1.3 billion (the “Aggregate Cash Consideration”). In accordance with the terms of the Merger Agreement, the portion of the Aggregate Stock Consideration issued to employee former owners of Acima Holdings is subject to restricted stock agreements providing vesting conditions over a 36-month period that began upon closing of the transaction. The portion of the Aggregate Stock Consideration issued to nonemployee former owners of Acima Holdings is subject to the terms of an 18-month lockup agreement, pursuant to which two-thirds of the aggregate shares of our common stock received by non-employee former owners in the transaction have become transferable with the remainder to become transferable on August 17, 2022. We entered into a Registration Rights Agreement at the closing of the transaction pursuant to which certain former owners of Acima are entitled to registration rights in respect of the portion of the Aggregate Stock Consideration received by them in the transaction. The aggregate purchase price in accordance with accounting standards under U.S. GAAP was approximately $1.4 billion, including the Aggregate Cash Consideration, and the 2,683,328 shares of the Aggregate Stock Consideration issued to non-employee former owners of Acima Holdings, valued at $51.14 per share, as of the closing date and discounted for lack of marketability on account of the transfer restrictions described above. The Aggregate Cash Consideration for the acquisition was financed with a combination of cash on hand, borrowings under our ABL Credit Facility and proceeds from issuances under our Term Loan Facility, as defined in Note 7, in addition to proceeds from the issuance of new unsecured senior notes. See Note 7 and Note 8 for additional information. The aggregate purchase price excludes the remaining 8,096,595 shares of the Aggregate Stock Consideration issued to employee former owners of Acima Holdings. Such shares were valued at $414.1 million, based on the per share price of $51.14 as of the date of closing. These shares are instead being recognized as stock-based compensation expense subject to ASC Topic 718, “Stock-based Compensation”, over the required vesting period, and recorded to Other charges in our unaudited Condensed Consolidated Statements of Operations. Assets acquired and liabilities assumed in connection with the acquisition have been recorded at their fair values. The following table provides the estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date: (in thousands) February 17, 2021 Aggregate cash consideration $ 1,273,263 Aggregate stock consideration, subject to lockup agreements 120,929 Total Purchase price $ 1,394,192 ASSETS ACQUIRED Receivables, net (1) $ 25,255 Prepaid expenses and other assets 700 Rental merchandise On rent 340,575 Property assets 171,455 Operating lease right-of-use assets 9,136 Deferred income taxes 28,559 Goodwill 219,530 Other intangible assets 520,000 Total assets acquired $ 1,315,210 LIABILITIES ASSUMED Accounts payable - trade 16,023 Accrued liabilities 11,716 Operating lease liabilities 9,689 Deferred income taxes (116,410) Total liabilities assumed (78,982) Total equity value $ 1,394,192 (1) Includes gross contractual receivables of $61.6 million related to merchandise lease contracts, of which $34.7 million were estimated to be uncollectible. Carrying value for assets and liabilities assumed as part of the acquisition, including receivables, prepaid expenses and other assets, accounts payable and accrued liabilities were recorded as fair value, as of the date of acquisition, due to the short term nature of these balances. Operating lease right-of-use assets and liabilities were recorded as the discounted value of future obligations in accordance with ASC Topic 842, “Leases”. The fair value measurements for acquired intangible assets and developed technology were primarily based on significant unobservable inputs (Level 3) developed using company-specific information. Certain fair values were determined based on an independent valuation of the net assets acquired, including $340.6 million of rental merchandise and $520 million of identifiable intangible assets with an estimated weighted average useful life of 8 years, as follows: Asset Class Estimated Fair Value Estimated Remaining Useful Life (in years) Merchant relationships $ 380,000 10 Relationship with existing lessees 60,000 1 Trade name 40,000 7 Non-compete agreements 40,000 3 Developed technology, included in Property assets, net, in line with our accounting policies, was also acquired with a value of $170.0 million and an estimated remaining useful life of 10 years. The fair value for these intangible and property assets were estimated using common industry valuation methods for similar asset types, based primarily on cost inputs and projected cash flows. In addition, we recorded goodwill of $219.5 million in our Acima operating segment, which consists of the excess of the net purchase price over the fair value of the net assets acquired. Goodwill represents expected cost and revenue synergies and other benefits expected to result within our retail partner business from the acquisition of Acima Holdings. The total value of goodwill for tax purposes differs from recorded goodwill as a result of the Aggregate Stock Consideration subject to restricted stock agreements, differences in value assigned to other purchased assets, and acquisition-related expenses. Tax goodwill will be amortized over 15 years. Acima Holdings' results of operations are reflected in our unaudited Condensed Consolidated Statements of Operations from the date of acquisition. Subsequent to the date of acquisition, we recorded certain adjustments to the purchase price allocation within the measurement period, including an adjustment to the fair value of rental merchandise decreasing the value of the acquired assets by approximately $17.1 million. The adjustment to the fair value of rental merchandise was based on further assessment of the carrying value of the assets and corresponding evaluation of related (Level 2) market inputs. Total cumulative measurement period adjustments resulted in a decrease to goodwill of approximately $(22.2) million. The purchase price allocation for the Acima Holdings acquisition was complete as of December 31, 2021. In connection with this acquisition, we incurred approximately $23.9 million in acquisition-related expenses including expenses related to legal, professional, and banking transaction fees, which are treated as an addition to goodwill for tax purposes. These costs were included in Other charges in our unaudited Condensed Consolidated Statements of Operations. The following unaudited pro forma combined results of operations present our financial results as if the acquisition of Acima had been completed on January 1, 2020. These unaudited pro forma results may not necessarily reflect the actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations. The unaudited pro forma information reflects the step-up and step-down depreciation and amortization adjustments for the fair value of the assets acquired, adjustments to stock compensation expense as a result of Aggregate Stock Consideration subject to restricted stock awards, the adjustments in interest expense due to the elimination of historical debt and placement of the new debt, and the related adjustments to the income tax provision. In addition, the pro forma net income has been adjusted to include transaction expenses and other non-recurring costs as of January 1, 2020. The unaudited pro forma financial information is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 (unaudited) (unaudited) (unaudited) (unaudited) Pro Forma total revenues $ 1,193,975 $ 982,266 $ 2,425,361 $ 1,969,013 Pro Forma net earnings (loss) (1) 65,448 16,122 121,861 (843) (1) Total pro forma adjustments to net earnings represented an increase of $4.1 million for the three months ended June 30, 2021, a decrease of $106.2 million for the six months ended June 30, 2021, and decreases of $71.7 million and $177.9 million for the three and six months ended June 30, 2020, respectively. Pro forma adjustments to net loss in 2020 include retro-active impacts related to purchase price allocation adjustments recorded, subsequent to the date of acquisition, within the measurement period described above. The amounts of revenue and earnings of Acima Holdings included in our Condensed Consolidated Statements of Operations from the acquisition date of February 17, 2021 are as follows: (in thousands) February 17, 2021 - June 30, 2021 (unaudited) Total revenues $ 615,646 Net earnings (1) 68,986 (1) Net earnings for the period includes amortization of intangible assets acquired upon closing of the Acima Holdings acquisition.

Revenues (Notes)

Revenues (Notes)	6 Months Ended
	Jun. 30, 2022
Revenues [Abstract]
Revenues	Revenues The following table disaggregates our revenue for the periods ended June 30, 2022 and 2021: Three Months Ended June 30, 2022 Rent-A-Center Business Acima (1) Mexico Franchising Consolidated (in thousands) Store Rentals and fees $ 436,371 $ 405,184 $ 15,743 $ — $ 857,298 Merchandise sales 34,952 124,888 929 — 160,769 Installment sales 18,548 — — — 18,548 Other 314 98 29 627 1,068 Total store revenues 490,185 530,170 16,701 627 1,037,683 Franchise Merchandise sales — — — 26,505 26,505 Royalty income and fees — — — 7,067 7,067 Total revenues $ 490,185 $ 530,170 $ 16,701 $ 34,199 $ 1,071,255 (1) Represents revenues for our Acima segment, as defined in Note 1. Six Months Ended June 30, 2022 Rent-A-Center Business Acima (1) Mexico Franchising Consolidated (in thousands) Store Rentals and fees $ 879,066 $ 830,655 $ 30,624 $ — $ 1,740,345 Merchandise sales 93,246 298,670 1,733 — 393,649 Installment sales 35,637 — — — 35,637 Other 741 221 56 1,340 2,358 Total store revenues 1,008,690 1,129,546 32,413 1,340 2,171,989 Franchise Merchandise sales — — — 45,026 45,026 Royalty income and fees — — — 13,961 13,961 Total revenues $ 1,008,690 $ 1,129,546 $ 32,413 $ 60,327 $ 2,230,976 (1) Represents revenues for our Acima segment, as defined in Note 1. Three Months Ended June 30, 2021 Rent-A-Center Business Acima (1) Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 438,162 $ 463,841 $ 14,402 $ — $ 916,405 Merchandise sales 49,050 171,346 833 — 221,229 Installment sales 18,191 — — — 18,191 Other 431 93 20 491 1,035 Total store revenues 505,834 635,280 15,255 491 1,156,860 Franchise Merchandise sales — — — 29,616 29,616 Royalty income and fees — — — 7,499 7,499 Total revenues $ 505,834 $ 635,280 $ 15,255 $ 37,606 $ 1,193,975 (1) Represents revenues for our Acima segment, as defined in Note 1. Six Months Ended June 30, 2021 Rent-A-Center Business Acima (1) Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 867,463 $ 766,367 $ 28,109 $ — $ 1,661,939 Merchandise sales 126,428 325,976 1,618 — 454,022 Installment sales 35,964 — — — 35,964 Other 845 386 26 696 1,953 Total store revenues 1,030,700 1,092,729 29,753 696 2,153,878 Franchise Merchandise sales — — — 62,671 62,671 Royalty income and fees — — — 14,208 14,208 Total revenues $ 1,030,700 $ 1,092,729 $ 29,753 $ 77,575 $ 2,230,757 (1) Represents revenues for our Acima segment, as defined in Note 1. Lease Purchase Agreements Rent-A-Center Business, Acima, 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 lease-to-own stores, certain Acima staffed locations formerly operating under the Preferred Lease brand, and Mexico stores must be prepaid in advance of the next rental term. Under the Acima Holdings business model, revenues may be earned prior to the rental payment due date, in which case revenue is accrued prior to receipt of the rental payment, net of estimated returns and uncollectible renewal payments. Under both models, rental revenue is recognized over the rental term. See Note 4 for additional information regarding accrued rental revenue. 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 June 30, 2022 and December 31, 2021, we had $32.5 million and $51.7 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 in our Rent-A-Center Business, former Preferred Lease locations, and Mexico stores is depreciated using the income forecasting method and recognized in cost of sales over the rental term. Rental merchandise in Acima Holdings is depreciated over the rental term using a straight-line depreciation method. 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 and 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, Acima, 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 June 30, 2022 and December 31, 2021, we had $2.3 million and $2.6 million in deferred revenue included in accrued liabilities related to extended service plans. Other. Other revenue consists of revenue generated by 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. 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 accrued and recognized as rental payments and merchandise 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 June 30, 2022 and December 31, 2021, we had $3.8 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 (Notes)	6 Months Ended
	Jun. 30, 2022
Receivables and Allowance for Doubtful Accounts [Abstract]
Receivables and Allowance for Doubtful Accounts	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 six months ended June 30, 2022 and 2021 was $6.1 million, respectively. Trade and notes receivables consist of amounts due from our rental customers for renewal and uncollected rental payments; amounts owed from our franchisees for inventory purchases, earned royalties and other obligations; and other corporate related receivables. Credit is extended to franchisees based on an evaluation of each 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) June 30, 2022 December 31, 2021 Installment sales receivables $ 67,500 $ 66,276 Trade and notes receivables 64,320 68,581 Total receivables 131,820 134,857 Less allowance for doubtful accounts (9,226) (8,479) Total receivables, net of allowance for doubtful accounts $ 122,594 $ 126,378 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 all 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 notes 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 $1.1 million and $0.9 million, and the allowance for doubtful accounts related to installment sales receivable was $8.1 million and $7.6 million at June 30, 2022 and December 31, 2021, respectively. Changes in our allowance for doubtful accounts are as follows: (in thousands) June 30, 2022 Beginning allowance for doubtful accounts $ 8,479 Bad debt expense (1) 9,495 Accounts written off, net of recoveries (8,748) Ending allowance for doubtful accounts $ 9,226 (1) Uncollectible installment payments, franchisee obligations, and other corporate receivables are recognized in other store operating expenses in our condensed consolidated financial statements.

Leases (Notes)

Leases (Notes)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases We lease space for all of our Rent-A-Center Business and Mexico stores under operating leases expiring at various times through 2030. 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 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. In certain situations involving the sale of a Rent-A-Center Business corporate store to a franchisee, we enter into a lease assignment agreement with the buyer, but we remain 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 Sheets. 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 Sheets. We also lease vehicles for all of our Mexico stores which have terms expiring at various times through 2026 with rental rates adjusted periodically for inflation. Finally, we have a minimal number of equipment leases, primarily related to temporary storage containers and certain back-office technology hardware assets. In our calculation of operating lease right-of-use assets and operating lease liabilities we have elected not to separate the lease and non-lease components. Furthermore, 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 Six Months Ended (in thousands) June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Operating lease cost included in Other store expenses (1)(2) $ 30,671 $ 34,690 $ 62,265 $ 68,826 Operating lease cost included in Other charges (2) 12 78 35 244 Sublease receipts (1,893) (3,134) (4,058) (6,483) Total operating lease charges $ 28,790 $ 31,634 $ 58,242 $ 62,587 (1) Includes short-term lease costs, which are not significant. (2) Excludes variable lease costs of $9.0 million and $17.8 million for the three and six months ended June 30, 2022 compared to $8.4 million and $16.9 million for the three and six months ended June 30, 2021. Supplemental cash flow information related to leases: Six Months Ended (in thousands) June 30, 2022 June 30, 2021 Cash paid for amounts included in measurement of operating lease liabilities $ 51,847 $ 53,758 Cash paid for short-term operating leases not included in operating lease liabilities 9,179 9,373 Right-of-use assets obtained in exchange for new operating lease liabilities 57,229 61,824 Weighted-average discount rate and weighted-average remaining lease term: (in thousands) June 30, 2022 December 31, 2021 Weighted-average discount rate (1) 6.2 % 6.0 % Weighted-average remaining lease term (in years) 4 4 (1) The 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 June 30, 2022: (in thousands) Operating Leases 2022 $ 53,278 2023 93,964 2024 76,002 2025 58,590 2026 35,118 Thereafter 26,863 Total undiscounted operating lease liabilities 343,815 Less: Interest (36,690) Total present value of operating lease liabilities $ 307,125

Income Taxes (Notes)

Income Taxes (Notes)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Tax	Income Taxes The effective tax rate was 49.5% and 50.4% for the three and six months ended June 30, 2022, compared to 28.8% and 23.4% for the corresponding period in 2021. The effective tax rate for the six months ended June 30, 2022 was impacted by the difference between recorded goodwill and goodwill recognized for tax purposes, primarily as a result of the Aggregate Stock Consideration issued to employee former owners of Acima Holdings subject to restricted stock agreements. The effective tax rate for the six months ended June 30, 2021 was also impacted by the equity consideration included in the Aggregate Stock Consideration issued to employee former owners of Acima Holdings subject to restricted stock agreements, in addition to discrete income tax items related to excess tax benefits from the vesting of our annual restricted stock award grants and stock option exercises, and the release of domestic and foreign tax valuation allowances.

Senior Debt (Notes)

Senior Debt (Notes)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt Disclosure	Senior Debt On February 17, 2021, we entered into a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and lenders party thereto, providing for a seven-year $875 million senior secured term loan facility (the “Term Loan Facility”) and an Asset Based Loan Credit Facility (the “ABL Credit Facility”) providing for a five-year asset-based revolving credit facility with commitments of $550 million and a letter of credit sublimit of $150 million. Commitments under the ABL Credit Facility may be increased, at our option and under certain conditions, by up to an additional $125 million in the aggregate. Proceeds from the Term Loan Facility were net of original issue discount of $4.4 million upon issuance from the lenders. In addition, in connection with the closing of the Term Loan Facility and the ABL Credit Facility, we incurred approximately $30.2 million in debt issuance costs, including bank financing fees and third party legal and other professional fees, of which $25.3 million was capitalized in accordance with ASC Topic 470, “Debt” and recorded as a reduction of our outstanding senior debt, net in our Condensed Consolidated Balance Sheets. Remaining debt issuance costs incurred of $4.9 million were expensed and recorded to Other charges in our Condensed Consolidated Statement of Operations. On September 21, 2021 we entered into a First Amendment (the “First Amendment”) to the Term Loan Facility, effective as of September 21, 2021. The amendment effected a repricing of the applicable margin under the Term Loan Facility by reducing the LIBOR floor by 25 basis points from 0.75% to 0.50%, and the applicable margin, with respect to any initial term loans, by 75 basis points from 4.00% to 3.25%. In connection with the execution of the First Amendment, we incurred approximately $1.5 million in debt issuance costs, including third party arrangement and other professional fees, of which approximately $1.4 million were expensed as debt refinance charges in our Condensed Consolidated Statement of Operations, and approximately $0.1 million were capitalized and recorded as a reduction to our outstanding senior debt in our Condensed Consolidated Balance Sheets. In addition, in accordance with ASC Topic 470, “Debt”, we recorded approximately $5.4 million in write-offs of unamortized debt issuance costs and original issue discount previously capitalized upon the issuance of the Term Loan Facility on February 17, 2021. The write-offs were recorded as debt refinance charges in our Condensed Consolidated Statement of Operations. As of June 30, 2022, the total remaining balance of unamortized debt issuance costs and original issue discount related to our senior debt reported in the Condensed Consolidated Balance Sheets were approximately $18.3 million and $2.7 million, respectively. Remaining unamortized debt issuance costs and original issue discount will be amortized to interest expense over the remaining term of the Term Loan Facility. The amount outstanding under the Term Loan Facility was $864.1 million at June 30, 2022. We had $90.0 million outstanding borrowings under our ABL Credit Facility at June 30, 2022 and borrowing capacity of $387.8 million. We also utilize the ABL Credit Facility for the issuance of letters of credit. As of June 30, 2022, we have issued letters of credit in the aggregate outstanding amount of $72.2 million primarily relating to workers compensation insurance claims. Term Loan Credit Agreement The Term Loan Facility, which matures on February 17, 2028, 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. Subject in each case to certain restrictions and conditions, we may add up to $500 million of incremental term loan facilities to the Term Loan Facility or utilize incremental capacity under the Term Loan Facility at any time by issuing or incurring incremental equivalent term debt. Interest on borrowings under the Term Loan Facility is payable at a fluctuating rate of interest determined by reference to the eurodollar rate plus an applicable margin of 3.25%, subject to a 0.50% LIBOR floor. The total interest rate on the Term Loan Facility was 4.94% at June 30, 2022. Borrowings under the Term Loan Facility amortize in equal quarterly installments in an amount equal to 1.000% per annum of the original aggregate principal amount thereof, with the remaining balance due at final maturity. The Term Loan Facility is secured by a first-priority security interest in substantially all of our present and future tangible and intangible personal property, including our subsidiary guarantors, other than the ABL Priority Collateral (as defined below), and by a second-priority security interest in the ABL Priority Collateral, subject to certain exceptions. The obligations under the Term Loan Facility are guaranteed by us and our material wholly-owned domestic restricted subsidiaries that also guarantee the ABL Credit Facility. The Term Loan Facility contains covenants that are usual and customary for similar facilities and transactions and that, among other things, restrict our ability and our restricted subsidiaries to create certain liens and enter into certain sale and lease-back transactions; create, assume, incur or guarantee certain indebtedness; consolidate or merge with, or convey, transfer or lease all or substantially all of our and our restricted subsidiaries’ assets, to another person; pay dividends or make other distributions on, or repurchase or redeem, our capital stock or certain other debt; and make other restricted payments. The Term Loan Facility also includes mandatory prepayment requirements related to asset sales (subject to reinvestment), debt incurrence (other than permitted debt) and excess cash flow, subject to certain limitations described therein. These covenants are subject to a number of limitations and exceptions set forth in the documentation governing the Term Loan. The Term Loan 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 us and our significant subsidiaries. The Term Loan Facility was fully drawn at the closing of the Acima Holdings acquisition to fund a portion of the Aggregate Cash Consideration payable in the transaction, repay certain of our outstanding indebtedness and that of our subsidiaries, repay all outstanding indebtedness of Acima Holdings and its subsidiaries and pay certain fees and expenses incurred in connection with the transaction. A portion of such proceeds were used to repay $197.5 million outstanding under the prior term loan facility, dated as of August 5, 2019, among us, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (the “Prior Term Loan Facility”). ABL Credit Agreement The ABL Credit Facility will mature on February 17, 2026. We may borrow only up to the lesser of the level of the then-current borrowing base and the aggregate amount of commitments under the ABL Credit Facility. The borrowing base is tied to the amount of eligible installment sales accounts, inventory and eligible rental contracts, reduced by certain reserves. The ABL Credit Facility bears interest at a fluctuating rate determined by reference to the eurodollar rate plus an applicable margin of 1.50% to 2.00%. The total interest rate on the ABL Credit Facility at June 30, 2022 was 3.375%. 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 documentation governing the ABL Credit Facility. The commitment fee at June 30, 2022 was 0.375%. We paid $0.8 million of commitment fees during the second quarter of 2022. Loans under the ABL Credit Facility may be borrowed, repaid and re-borrowed until February 17, 2026, at which time all amounts borrowed must be repaid. The obligations under the ABL Credit Facility are guaranteed by us and certain of our wholly owned domestic restricted subsidiaries, subject to certain exceptions. The obligations under the ABL Credit Facility and such guarantees are secured on a first-priority basis by all of our and our subsidiary guarantors’ accounts, inventory, deposit accounts, securities accounts, cash and cash equivalents, rental agreements, general intangibles (other than equity interests in our subsidiaries), chattel paper, instruments, documents, letter of credit rights, commercial tort claims related to the foregoing and other related assets and all proceeds thereof related to the foregoing, subject to permitted liens and certain exceptions (such assets, collectively, the “ABL Priority Collateral”) and a second-priority basis in substantially all other present and future tangible and intangible personal property of ours and the subsidiary guarantors, subject to certain exceptions. The ABL Credit Facility contains covenants that are usual and customary for similar facilities and transactions and that, among other things, restrict our ability and our restricted subsidiaries to create certain liens and enter into certain sale and lease-back transactions; create, assume, incur or guarantee certain indebtedness; consolidate or merge with, or convey, transfer or lease all or substantially all of our and our restricted subsidiaries’ assets, to another person; pay dividends or make other distributions on, or repurchase or redeem, our capital stock or certain other debt; and make other restricted payments. The ABL Credit Facility also requires the maintenance of a consolidated fixed charge coverage ratio of at least 1.10 to 1.00 at the end of each fiscal quarter only in the event either (i) certain specified events of default have occurred and are continuing or (ii) availability is less than or equal to the greater of $56.25 million and 15% of the line cap then in effect. These covenants are subject to a number of limitations and exceptions set forth in the documentation governing the ABL Credit Facility. The fixed charge coverage ratio as of June 30, 2022 was 0.81 to 1.00, however, neither of the conditions in (i) or (ii) described above were applicable. Therefore, the maintenance of the fixed charge coverage ratio as of June 30, 2022 was not required. The documentation governing the ABL Credit Facility 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 us and our significant subsidiaries. The table below shows the scheduled maturity dates of our outstanding debt at June 30, 2022 for each of the years ending December 31: (in thousands) Term Loan Facility ABL Credit Facility Total 2022 $ 4,375 $ — $ 4,375 2023 8,750 — 8,750 2024 8,750 — 8,750 2025 8,750 — 8,750 2026 8,750 90,000 98,750 Thereafter 824,687 — 824,687 Total senior debt $ 864,062 $ 90,000 $ 954,062

Senior Notes (Notes)

Senior Notes (Notes)	6 Months Ended
	Jun. 30, 2022
Subsidiary Guarantors - Senior Notes [Abstract]
Senior Notes	Senior Notes On February 17, 2021, we issued $450 million in senior unsecured notes due February 15, 2029, at par value, bearing interest at 6.375% (the “Notes”), the proceeds of which were used to fund a portion of the Aggregate Cash Consideration upon closing of the Acima Holdings acquisition. Interest on the Notes is payable in arrears on February 15 and August 15 of each year, beginning on August 15, 2021. In connection with the issuance of the Notes, we incurred approximately $15.7 million in debt issuance costs, including bank financing fees and third party legal and other professional fees, which were capitalized in accordance with ASC Topic 470, “Debt” and recorded as a reduction of our outstanding Notes in our Condensed Consolidated Balance Sheets. Debt issuance costs are amortized as interest expense over the term of the Notes. As of June 30, 2022, the total remaining balance of unamortized debt issuance costs related to our senior notes reported in the Condensed Consolidated Balance Sheets was approximately $13.5 million. We may redeem some or all of the Notes at any time on or after February 15, 2024 for cash at the redemption prices set forth in the indenture governing the Notes, plus accrued and unpaid interest to, but not including, the redemption date. Prior to February 15, 2024, we may redeem up to 40% of the aggregate principal amount of the Notes with the proceeds of certain equity offerings at a redemption price of 106.375% plus accrued and unpaid interest to, but not including, the redemption date. In addition, we may redeem some or all of the Notes prior to February 15, 2024, at a redemption price of 100% of the principal amount of the Notes plus accrued and unpaid interest to, but not including, the redemption date, plus a “make-whole” premium. If we experience specific kinds of change of control, we will be required to offer to purchase the Notes at a price equal to 101% of the principal amount thereof plus accrued and unpaid interest. The Notes are our general unsecured senior obligations, and are effectively subordinated to all of our existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness, structurally subordinated to all existing and future indebtedness and other liabilities of our non-guarantor subsidiaries, equal in right of payment to all of our and our guarantor subsidiaries’ existing and future senior indebtedness and senior in right of payment to all of our future subordinated indebtedness, if any. The Notes are jointly and severally guaranteed on a senior unsecured basis by certain of our domestic subsidiaries that have outstanding indebtedness or guarantee other specified indebtedness, including the ABL Credit Facility and the Term Loan Facility. The indenture governing the Notes contains covenants that limit, among other things, our ability and the ability of some of our restricted subsidiaries to create liens, transfer or sell assets, incur indebtedness or issue certain preferred stock, pay dividends, redeem stock or make other distributions, make other restricted payments or investments, create restrictions on payment of dividends or other amounts to us by our restricted subsidiaries, merge or consolidate with other entities, engage in certain transactions with affiliates and designate our subsidiaries as unrestricted subsidiaries. These covenants are subject to a number of exceptions and qualifications. The covenants limiting restricted payments, restrictions on payment of dividends or other amounts to us by our restricted subsidiaries, the ability to incur indebtedness, asset dispositions and transactions with affiliates will be suspended if and while the Notes have investment grade ratings from any two of Standard & Poor’s Ratings Services, Moody’s Investors Service, Inc. and Fitch, Inc. The indenture governing the Notes also provides for events of default, which, if any of them occurs, would permit or require the principal, premium, if any, and interest on all the then outstanding Notes to be due and payable.

Fair Value (Notes)

Fair Value (Notes)	6 Months Ended
	Jun. 30, 2022
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. Our financial instruments include cash and cash equivalents, receivables, payables, borrowings against our ABL Credit Facility and Term Loan Facility, and outstanding Notes. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value at June 30, 2022 and December 31, 2021, 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, we believe the carrying value of outstanding borrowings approximates their fair value. The fair value of our Notes is based on Level 1 inputs and was as follows at June 30, 2022: June 30, 2022 (in thousands) Carrying Value Fair Value Difference Senior notes $ 450,000 $ 351,000 $ (99,000)

Other Charges (Notes)

Other Charges (Notes)	3 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Other Charges	Other Charges Acima Holdings Acquisition. As described in Note 2, on February 17, 2021, we completed the acquisition of Acima Holdings, a leading provider of virtual lease-to-own solutions. Included in the aggregate consideration issued to the former owners of Acima Holdings were 8,096,595 common shares, valued at $414.1 million, subject to 36-month vesting conditions under restricted stock agreements, which will be recognized over the vesting term as stock compensation expense. During the six months ended June 30, 2022 and 2021, we recognized approximately $69.4 million and $50.3 million in stock compensation expense related to these restricted stock agreement, respectively. The fair value of assets acquired as part of the transaction included $520 million in intangible assets and $170 million in developed technology. During the six months ended June 30, 2022 and 2021, we recognized approximately $36.4 million and $43.2 million in amortization expense and $8.0 million and $5.3 million in incremental depreciation expense related to these assets, respectively. During the six months ended June 30, 2022 and 2021, we recognized approximately $0.2 million and $17.1 million in transaction costs associated with the closing of the transaction, respectively. During the six months ended June 30, 2021 we recognized approximately $3.9 million in post-acquisition integration costs, including $3.1 million in employee severance and $0.8 million in reorganization advisory fees. Activity with respect to Other charges for the six months ended June 30, 2022 is summarized in the below table: (in thousands) Accrued Charges at December 31, 2021 Charges & Adjustments Payments & Adjustments Accrued Charges at June 30, 2022 Cash charges: Acima Holdings transaction costs $ — $ 187 $ (187) $ — Labor reduction costs (1) 1,593 4,213 (1,838) 3,968 Other cash charges — 385 (385) — Total cash charges $ 1,593 4,785 $ (2,410) $ 3,968 Non-cash charges: Acima Holdings restricted stock agreements (2) 69,430 Depreciation and amortization of acquired assets (3) 44,325 Asset impairments (4) 5,181 Other 95 Total other charges $ 123,816 (1) Represents charges incurred for employee severance. (2) Represents stock compensation expense related to common stock issued to Acima Holdings employees under restricted stock agreements as part of the acquisition proceeds subject to vesting restrictions, as described in Note 2 and Note 12. (3) Represents amortization of the total fair value of acquired intangible assets and incremental depreciation related to the fair value increase over net book value of acquired software assets in connection with the acquisition of Acima Holdings as described in Note 2. (4) Primarily represents impairment of software assets.

Segment Information (Notes)

Segment Information (Notes)	6 Months Ended
	Jun. 30, 2022
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. Within our operating segments, we offer merchandise for lease from certain basic product categories: furniture, including mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories. Segment information as of and for the three and six months ended June 30, 2022 and 2021 is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Revenues Rent-A-Center Business $ 490,185 $ 505,834 $ 1,008,690 $ 1,030,700 Acima (1) 530,170 635,280 1,129,546 1,092,729 Mexico 16,701 15,255 32,413 29,753 Franchising 34,199 37,606 60,327 77,575 Total revenues $ 1,071,255 $ 1,193,975 $ 2,230,976 $ 2,230,757 (1) Represents revenues for our Acima operating segment as defined in Note 1. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Gross profit Rent-A-Center Business $ 348,060 $ 357,187 $ 711,440 $ 716,356 Acima (1) 165,081 211,404 329,308 345,654 Mexico 11,811 10,818 22,912 21,030 Franchising 7,592 8,063 14,978 14,955 Total gross profit $ 532,544 $ 587,472 $ 1,078,638 $ 1,097,995 (1) Represents gross profit for our Acima operating segment as defined in Note 1. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Operating profit Rent-A-Center Business $ 99,108 $ 126,487 $ 199,284 $ 247,764 Acima (1) 35,835 68,099 45,433 92,913 Mexico 1,949 2,420 4,015 4,374 Franchising 5,303 5,694 10,093 10,679 Total segments 142,195 202,700 258,825 355,730 Corporate (2) (84,114) (96,181) (189,702) (179,165) Total operating profit $ 58,081 $ 106,519 $ 69,123 $ 176,565 (1) Represents operating profit for our Acima segment as defined in Note 1. (2) Includes stock compensation expense of $32.9 million and $69.4 million recognized for the three and six months ended June 30, 2022, and $34.4 million and $50.3 million recognized for the three and six months ended June 30, 2021, related to common stock issued to Acima Holdings employees under restricted stock agreements as part of the acquisition consideration subject to vesting restrictions as described in Note 10. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Depreciation and amortization Rent-A-Center Business $ 4,622 $ 4,452 $ 11,036 $ 9,029 Acima (1)(2) 475 524 1,057 998 Mexico 163 119 312 239 Franchising 38 18 75 34 Total segments 5,298 5,113 12,480 10,300 Corporate (3) 7,582 8,453 14,930 16,659 Total depreciation and amortization $ 12,880 $ 13,566 $ 27,410 $ 26,959 (1) Represents depreciation and amortization for our Acima segment as defined in Note 1. (2) Excludes amortization expense of approximately $14.3 million and $36.4 million for the three and six months ended June 30, 2022, compared to $29.2 million and $43.2 million for the three and six months ended June 30, 2021, recorded to Other charges in the Condensed Consolidated Statement of Operations, related to intangible assets acquired upon closing of the Acima Holdings acquisition. See Note 10 for additional information. (3) Excludes depreciation expense of approximately $4.0 million and $8.0 million for the three and six months ended June 30, 2022, compared to $4.0 million and $5.3 million for the three and six months ended June 30, 2021, recorded to Other charges in the Condensed Consolidated Statement of Operations, related to software acquired upon closing of the Acima Holdings acquisition. See Note 10 for additional information. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Capital expenditures Rent-A-Center Business $ 6,795 $ 8,308 $ 20,203 $ 14,565 Acima (1) 143 515 189 669 Mexico 301 190 523 266 Franchising — — 112 — Total segments 7,239 9,013 21,027 15,500 Corporate 7,253 5,000 9,868 9,901 Total capital expenditures $ 14,492 $ 14,013 $ 30,895 $ 25,401 (1) Represents capital expenditures for our Acima segment as defined in Note 1. (in thousands) June 30, 2022 December 31, 2021 On rent rental merchandise, net Rent-A-Center Business $ 458,849 $ 477,901 Acima (1) 498,421 676,279 Mexico 19,908 18,844 Total on rent rental merchandise, net $ 977,178 $ 1,173,024 (1) Represents on-rent rental merchandise for our Acima segment as defined in Note 1. (in thousands) June 30, 2022 December 31, 2021 Held for rent rental merchandise, net Rent-A-Center Business $ 131,264 $ 123,111 Acima (1) 673 626 Mexico 8,833 9,247 Total held for rent rental merchandise, net $ 140,770 $ 132,984 (1) Represents held-for-rent rental merchandise for our Acima segment as defined in Note 1. (in thousands) June 30, 2022 December 31, 2021 Assets by segment Rent-A-Center Business $ 1,041,788 $ 1,026,886 Acima (1) 1,226,105 1,476,752 Mexico 45,346 41,669 Franchising 16,022 15,412 Total segments 2,329,261 2,560,719 Corporate 437,871 432,608 Total assets $ 2,767,132 $ 2,993,327 (1) Represents total assets for our Acima segment as defined in Note 1.

Common Stock and Stock-Based Co

Common Stock and Stock-Based Compensation (Notes)	6 Months Ended
	Jun. 30, 2022
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Common Stock and Stock-Based Compensation In early December 2021, our Board of Directors authorized a stock repurchase program for up to $500 million (the “December 2021 Program”), which superseded our previous stock repurchase program. Under the December 2021 Program, we may purchase shares of our common stock from time to time in the open market or privately negotiated transactions. We are not obligated to acquire any shares under the program, and the program may be suspended or discontinued at any time. No shares of our common stock were repurchased during the six months ended June 30, 2022 and 2021, respectively. We recognized $3.6 million and $5.1 million in compensation expense related to stock awards issued under the Rent-A-Center, Inc. 2021 Long-Term Incentive Plan (the “2021 Plan”) and 2016 Long-Term Incentive Plan (the “2016 Plan”) during the three months ended June 30, 2022 and 2021, and $8.4 million and $9.4 million during the six months ended June 30, 2022 and 2021. During the six months ended June 30, 2022, we granted approximately 687,000 market-based performance units and 323,000 time-vesting units under the 2021 Plan. Performance-based restricted stock units are valued using a Monte Carlo simulation. Time-vesting restricted stock units are valued based on our closing stock price on the trading day immediately preceding the date of the grant, or as of the date of modification in the event an award is modified. The weighted-average grant date fair value of the market-based performance and time-vesting restricted stock units granted during the six months ended June 30, 2022 was $24.72 and $30.59, respectively. As described in Note 2, Aggregate Stock Consideration issued to the former owners of Acima Holdings included 10,779,923 of common shares valued at $51.14 per share, as of the date of closing. Of this total, 2,683,328 common shares were included in the aggregate purchase price of the transaction for financial reporting purposes, while 8,096,595 common shares, valued at $414.1 million, issued under restricted stock agreements and subject to vesting conditions, are recognized as stock compensation expense over the vesting term in accordance with ASC Topic 718, “Stock-based Compensation”. We recognized $32.9 million and $34.4 million in stock compensation expense related to these restricted stock agreements during the three months ended June 30, 2022 and 2021, and $69.4 million and $50.3 million during the six months ended June 30, 2022 and 2021, which was recorded to Other charges in our Condensed Consolidated Statements of Operations, as described in Note 10.

Contingencies (Notes)

Contingencies (Notes)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies From time to time, we, along with our subsidiaries, are 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 review the adequacy of our legal reserves on a quarterly basis. We do not currently expect these losses to have a material impact on our consolidated financial statements if and when such losses are incurred. Nevertheless, we cannot predict the impact of future developments affecting our claims and lawsuits, and any resolution of a claim or lawsuit or reserve within a particular fiscal period may materially and adversely impact our results of operations for that period. In addition, claims and lawsuits against us may seek injunctive or other relief that requires changes to our business practices or operations and it is possible that any required changes may materially and adversely impact our business, financial condition, results of operations or reputation. Unclaimed Property. We are subject to unclaimed property audits by states in the ordinary course of business. The property subject to review in the audit process includes unclaimed wages, vendor payments and customer refunds. State escheat laws generally require entities to report and remit abandoned and unclaimed property to the state. Failure to timely report and remit the property can result in assessments that could include interest and penalties, in addition to the payment of the escheat liability itself. We routinely remit escheat payments to states and believe we are in compliance with applicable escheat laws. Acima Consumer Financial Protection Bureau investigation. Prior to the execution of the definitive agreement to acquire Acima Holdings, Acima Holdings received a Civil Investigative Demand dated October 1, 2020 (the “CID”) from the Consumer Financial Protection Bureau (the “CFPB”) requesting certain information, documents and data relating to Acima Holding’s products, services and practices for the period from January 1, 2015 to the date on which responses to the CID are provided in full. The purpose of the CID is to determine whether Acima Holdings extends credit, offers leases, or otherwise offers or provides a consumer financial product or service and whether Acima Holdings complies with certain consumer financial protection laws. We are fully cooperating with the CFPB investigation. The CFPB has not made any allegations in the investigation, and we are currently unable to predict the eventual scope, ultimate timing or outcome of the CFPB investigation. On the terms and subject to the conditions set forth in the definitive agreement to acquire Acima Holdings, the former owners of Acima Holdings have agreed to indemnify Rent-A-Center for certain losses arising after the consummation of the transaction with respect to the CID and certain pre-closing taxes. The indemnification obligations of the former owners of Acima Holdings are limited to an indemnity holdback in the aggregate amount of $50 million, which was escrowed at the closing of the transaction, and will be Rent-A-Center’s sole recourse against the former owners of Acima Holdings with respect to all of the indemnifiable claims under the definitive transaction agreement. Other than with respect to any pending or unresolved claims for indemnification submitted by Rent-A-Center prior to such time, and subject to other limited exceptions, the escrowed amount will be released to the former owners of Acima Holdings as follows: (i) in respect of the CID, on the earlier of February 17, 2024 and the date on which a final determination is entered providing for a resolution of the matters regarding the CID and (ii) in respect of certain pre-closing taxes, on August 18, 2022, the first business day following the date that is 18 months after the closing date of the transaction. There can be no assurance that the CID will be finally resolved prior to the release to the former owners of Acima Holdings of the escrowed funds reserved therefor, or that such escrowed amount will be sufficient to address all covered losses or that the CFPB’s ongoing investigation or future exercise of its enforcement, regulatory, discretionary or other powers will not result in findings or alleged violations of consumer financial protection laws that could lead to enforcement actions, proceedings or litigation, whether by the CFPB, other state or federal agencies, or other parties, and the imposition of damages, fines, penalties, restitution, other monetary liabilities, sanctions, settlements or changes to Acima Holdings’ business practices or operations that could materially and adversely affect our business, financial condition, results of operations or reputation. California Attorney General. The California Attorney General (the “CAG”) issued an investigative subpoena in 2018 seeking information with respect to certain of our Acceptance Now business practices (now part of the Acima segment). Since receiving such demand, we have 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 CAG’s allegations include those with respect to certain consumer fees, charges and communications in connection with our lease-to-own transactions. In November 2021, the parties reached an agreement in principle regarding the resolution of this matter. On August 2, 2022, the parties finalized the settlement of this matter, which includes a proposed final judgment for approval by the Superior Court of the State of California. In the agreement and in consideration of the final resolution of this matter, we agreed to pay a total of $15.5 million in restitution to consumers and civil penalties along with certain injunctive provisions, including (1) in the case of rental-purchase transactions in California originating through a third-party host retailer, not to charge a cash price on the rental-purchase agreement that is greater than the cash price offered to the consumer by the host retailer, and (2) to implement certain additional customer disclosures, employee training and other compliance requirements and restrictions as set forth in the stipulated agreement. We did not admit to any violations of law or any wrongdoing. Although we disagree with the CAG’s interpretation of the relevant California statutory language regarding the definition of “cash price”, we entered into the agreement to avoid the expense, risk and distractions associated with potential protracted litigation. As of December 31, 2021, taking into consideration the agreement in principle reached in November 2021, we reserved the amount of $15.5 million as a loss contingency for this matter in our consolidated financial statements. Massachusetts Attorney General. The Massachusetts Attorney General (the “MAG”) issued a civil investigative demand in 2018 seeking information with respect to certain of our business practices, including regarding account management and certain other business practices in connection with our lease-to-own transactions. Since receiving such demand, we have cooperated with the MAG in connection with its investigation. In June 2021, the MAG provided us with proposed settlement terms including a monetary payment, injunctive provisions regarding certain business practices and compliance requirements. We are continuing to cooperate and discuss resolution of the inquiry with the MAG. We are currently unable to predict the ultimate timing or outcome of the MAG investigation. State Attorneys General Investigation. On November 1, 2021, Acima received a letter from the Nebraska Attorney General’s office stating that the Attorney General of Nebraska, along with a coalition of thirty-eight state Attorneys General, initiated a multi-state investigation into the business acts and practices of Acima and that a civil investigative demand(s) and/or subpoena(s) pursuant to respective state consumer protection laws will be forthcoming. Since receiving the letter, we have held multiple discussions with officials at the lead attorneys general offices and, based on those discussions, it is our understanding that the investigation is looking at business practices within the virtual lease-to-own industry and includes or will include multiple companies. In April 2022, we received a request for information and documents. Acima is cooperating with the investigation and is currently in the process of producing requested information.

Earnings Per Common Share (Note

Earnings Per Common Share (Notes)	6 Months Ended
	Jun. 30, 2022
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 June 30, Six Months Ended June 30, (in thousands, except per share data) 2022 2021 2022 2021 Numerator: Net earnings $ 19,725 $ 61,309 $ 15,488 $ 103,861 Denominator: Weighted-average shares outstanding 53,998 58,295 53,875 57,271 Effect of dilutive stock awards (1) 5,674 9,525 6,021 9,787 Weighted-average dilutive shares 59,672 67,820 59,896 67,058 Basic earnings per common share $ 0.37 $ 1.05 $ 0.29 $ 1.81 Diluted earnings per common share (1) $ 0.33 $ 0.90 $ 0.26 $ 1.55 Anti-dilutive securities excluded from diluted earnings per common share: Anti-dilutive restricted share units 332 112 96 112 Anti-dilutive performance share units 226 236 350 236 Anti-dilutive stock options 535 34 266 34 (1) Weighted-average dilutive shares outstanding for the six months ended June 30, 2022 and 2021, includes approximately 5.2 million and 8.1 million common shares, respectively, issued in connection with the acquisition of Acima Holdings and subject to vesting conditions under restricted stock agreements.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Use of Estimates, Policy	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, such as the future unknown impacts of the COVID-19 pandemic and other macroeconomic factors, including recent significant increases to the consumer price index, a condensed labor market, wage inflation, and global supply chain issues 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	Principles of Consolidation and Nature of Operations The 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 the “Company”, “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, Acima (formerly 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 Rent-A-Center Business segment operates through our company-owned stores and e-commerce platform through rentacenter.com. Our Acima segment, which operates in the United States and Puerto Rico, which includes the operations of Acima Holdings (as defined in Note 2 below) acquired in February 2021 and our previous Preferred Lease virtual and staffed locations, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer through staffed or unstaffed kiosks located within such retailer’s locations, or other virtual location options. Virtual locations 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. 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.

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Acquisition assets acquired and liabilities assumed	Assets acquired and liabilities assumed in connection with the acquisition have been recorded at their fair values. The following table provides the estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date: (in thousands) February 17, 2021 Aggregate cash consideration $ 1,273,263 Aggregate stock consideration, subject to lockup agreements 120,929 Total Purchase price $ 1,394,192 ASSETS ACQUIRED Receivables, net (1) $ 25,255 Prepaid expenses and other assets 700 Rental merchandise On rent 340,575 Property assets 171,455 Operating lease right-of-use assets 9,136 Deferred income taxes 28,559 Goodwill 219,530 Other intangible assets 520,000 Total assets acquired $ 1,315,210 LIABILITIES ASSUMED Accounts payable - trade 16,023 Accrued liabilities 11,716 Operating lease liabilities 9,689 Deferred income taxes (116,410) Total liabilities assumed (78,982) Total equity value $ 1,394,192 (1) Includes gross contractual receivables of $61.6 million related to merchandise lease contracts, of which $34.7 million were estimated to be uncollectible.
Finite-Lived Intangible Assets Acquired as Part of Business Combination	The fair value measurements for acquired intangible assets and developed technology were primarily based on significant unobservable inputs (Level 3) developed using company-specific information. Certain fair values were determined based on an independent valuation of the net assets acquired, including $340.6 million of rental merchandise and $520 million of identifiable intangible assets with an estimated weighted average useful life of 8 years, as follows: Asset Class Estimated Fair Value Estimated Remaining Useful Life (in years) Merchant relationships $ 380,000 10 Relationship with existing lessees 60,000 1 Trade name 40,000 7 Non-compete agreements 40,000 3
Pro Forma combined results	The unaudited pro forma financial information is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 (unaudited) (unaudited) (unaudited) (unaudited) Pro Forma total revenues $ 1,193,975 $ 982,266 $ 2,425,361 $ 1,969,013 Pro Forma net earnings (loss) (1) 65,448 16,122 121,861 (843)

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2022
Revenues [Abstract]
Disaggregation of Revenue	The following table disaggregates our revenue for the periods ended June 30, 2022 and 2021: Three Months Ended June 30, 2022 Rent-A-Center Business Acima (1) Mexico Franchising Consolidated (in thousands) Store Rentals and fees $ 436,371 $ 405,184 $ 15,743 $ — $ 857,298 Merchandise sales 34,952 124,888 929 — 160,769 Installment sales 18,548 — — — 18,548 Other 314 98 29 627 1,068 Total store revenues 490,185 530,170 16,701 627 1,037,683 Franchise Merchandise sales — — — 26,505 26,505 Royalty income and fees — — — 7,067 7,067 Total revenues $ 490,185 $ 530,170 $ 16,701 $ 34,199 $ 1,071,255 (1) Represents revenues for our Acima segment, as defined in Note 1. Six Months Ended June 30, 2022 Rent-A-Center Business Acima (1) Mexico Franchising Consolidated (in thousands) Store Rentals and fees $ 879,066 $ 830,655 $ 30,624 $ — $ 1,740,345 Merchandise sales 93,246 298,670 1,733 — 393,649 Installment sales 35,637 — — — 35,637 Other 741 221 56 1,340 2,358 Total store revenues 1,008,690 1,129,546 32,413 1,340 2,171,989 Franchise Merchandise sales — — — 45,026 45,026 Royalty income and fees — — — 13,961 13,961 Total revenues $ 1,008,690 $ 1,129,546 $ 32,413 $ 60,327 $ 2,230,976 (1) Represents revenues for our Acima segment, as defined in Note 1. Three Months Ended June 30, 2021 Rent-A-Center Business Acima (1) Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 438,162 $ 463,841 $ 14,402 $ — $ 916,405 Merchandise sales 49,050 171,346 833 — 221,229 Installment sales 18,191 — — — 18,191 Other 431 93 20 491 1,035 Total store revenues 505,834 635,280 15,255 491 1,156,860 Franchise Merchandise sales — — — 29,616 29,616 Royalty income and fees — — — 7,499 7,499 Total revenues $ 505,834 $ 635,280 $ 15,255 $ 37,606 $ 1,193,975 (1) Represents revenues for our Acima segment, as defined in Note 1. Six Months Ended June 30, 2021 Rent-A-Center Business Acima (1) Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 867,463 $ 766,367 $ 28,109 $ — $ 1,661,939 Merchandise sales 126,428 325,976 1,618 — 454,022 Installment sales 35,964 — — — 35,964 Other 845 386 26 696 1,953 Total store revenues 1,030,700 1,092,729 29,753 696 2,153,878 Franchise Merchandise sales — — — 62,671 62,671 Royalty income and fees — — — 14,208 14,208 Total revenues $ 1,030,700 $ 1,092,729 $ 29,753 $ 77,575 $ 2,230,757 (1) Represents revenues for our Acima segment, as defined in Note 1.

Receivables and Allowance for_2

Receivables and Allowance for Doubtful Accounts (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables and Allowance for Doubtful Accounts [Abstract]
Receivables	Receivables consist of the following: (in thousands) June 30, 2022 December 31, 2021 Installment sales receivables $ 67,500 $ 66,276 Trade and notes receivables 64,320 68,581 Total receivables 131,820 134,857 Less allowance for doubtful accounts (9,226) (8,479) Total receivables, net of allowance for doubtful accounts $ 122,594 $ 126,378
Changes in allowance for doubtful accounts	Changes in our allowance for doubtful accounts are as follows: (in thousands) June 30, 2022 Beginning allowance for doubtful accounts $ 8,479 Bad debt expense (1) 9,495 Accounts written off, net of recoveries (8,748) Ending allowance for doubtful accounts $ 9,226 (1) Uncollectible installment payments, franchisee obligations, and other corporate receivables are recognized in other store operating expenses in our condensed consolidated financial statements.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Operating lease costs	Total operating lease costs by expense type: Three Months Ended Six Months Ended (in thousands) June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Operating lease cost included in Other store expenses (1)(2) $ 30,671 $ 34,690 $ 62,265 $ 68,826 Operating lease cost included in Other charges (2) 12 78 35 244 Sublease receipts (1,893) (3,134) (4,058) (6,483) Total operating lease charges $ 28,790 $ 31,634 $ 58,242 $ 62,587 (1) Includes short-term lease costs, which are not significant. (2) Excludes variable lease costs of $9.0 million and $17.8 million for the three and six months ended June 30, 2022 compared to $8.4 million and $16.9 million for the three and six months ended June 30, 2021. Supplemental cash flow information related to leases: Six Months Ended (in thousands) June 30, 2022 June 30, 2021 Cash paid for amounts included in measurement of operating lease liabilities $ 51,847 $ 53,758 Cash paid for short-term operating leases not included in operating lease liabilities 9,179 9,373 Right-of-use assets obtained in exchange for new operating lease liabilities 57,229 61,824 Weighted-average discount rate and weighted-average remaining lease term: (in thousands) June 30, 2022 December 31, 2021 Weighted-average discount rate (1) 6.2 % 6.0 % Weighted-average remaining lease term (in years) 4 4 (1) The 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	Reconciliation of undiscounted operating lease liabilities to the present value operating lease liabilities at June 30, 2022: (in thousands) Operating Leases 2022 $ 53,278 2023 93,964 2024 76,002 2025 58,590 2026 35,118 Thereafter 26,863 Total undiscounted operating lease liabilities 343,815 Less: Interest (36,690) Total present value of operating lease liabilities $ 307,125

Senior Debt (Tables)

Senior Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	The table below shows the scheduled maturity dates of our outstanding debt at June 30, 2022 for each of the years ending December 31: (in thousands) Term Loan Facility ABL Credit Facility Total 2022 $ 4,375 $ — $ 4,375 2023 8,750 — 8,750 2024 8,750 — 8,750 2025 8,750 — 8,750 2026 8,750 90,000 98,750 Thereafter 824,687 — 824,687 Total senior debt $ 864,062 $ 90,000 $ 954,062

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements Nonrecurring	The fair value of our Notes is based on Level 1 inputs and was as follows at June 30, 2022: June 30, 2022 (in thousands) Carrying Value Fair Value Difference Senior notes $ 450,000 $ 351,000 $ (99,000)

Other Charges (Tables)

Other Charges (Tables)	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Other Charges	Activity with respect to Other charges for the six months ended June 30, 2022 is summarized in the below table: (in thousands) Accrued Charges at December 31, 2021 Charges & Adjustments Payments & Adjustments Accrued Charges at June 30, 2022 Cash charges: Acima Holdings transaction costs $ — $ 187 $ (187) $ — Labor reduction costs (1) 1,593 4,213 (1,838) 3,968 Other cash charges — 385 (385) — Total cash charges $ 1,593 4,785 $ (2,410) $ 3,968 Non-cash charges: Acima Holdings restricted stock agreements (2) 69,430 Depreciation and amortization of acquired assets (3) 44,325 Asset impairments (4) 5,181 Other 95 Total other charges $ 123,816 (1) Represents charges incurred for employee severance. (2) Represents stock compensation expense related to common stock issued to Acima Holdings employees under restricted stock agreements as part of the acquisition proceeds subject to vesting restrictions, as described in Note 2 and Note 12. (3) Represents amortization of the total fair value of acquired intangible assets and incremental depreciation related to the fair value increase over net book value of acquired software assets in connection with the acquisition of Acima Holdings as described in Note 2. (4) Primarily represents impairment of software assets.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Information [Abstract]
Segment Information	Segment information as of and for the three and six months ended June 30, 2022 and 2021 is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Revenues Rent-A-Center Business $ 490,185 $ 505,834 $ 1,008,690 $ 1,030,700 Acima (1) 530,170 635,280 1,129,546 1,092,729 Mexico 16,701 15,255 32,413 29,753 Franchising 34,199 37,606 60,327 77,575 Total revenues $ 1,071,255 $ 1,193,975 $ 2,230,976 $ 2,230,757 (1) Represents revenues for our Acima operating segment as defined in Note 1. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Gross profit Rent-A-Center Business $ 348,060 $ 357,187 $ 711,440 $ 716,356 Acima (1) 165,081 211,404 329,308 345,654 Mexico 11,811 10,818 22,912 21,030 Franchising 7,592 8,063 14,978 14,955 Total gross profit $ 532,544 $ 587,472 $ 1,078,638 $ 1,097,995 (1) Represents gross profit for our Acima operating segment as defined in Note 1. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Operating profit Rent-A-Center Business $ 99,108 $ 126,487 $ 199,284 $ 247,764 Acima (1) 35,835 68,099 45,433 92,913 Mexico 1,949 2,420 4,015 4,374 Franchising 5,303 5,694 10,093 10,679 Total segments 142,195 202,700 258,825 355,730 Corporate (2) (84,114) (96,181) (189,702) (179,165) Total operating profit $ 58,081 $ 106,519 $ 69,123 $ 176,565 (1) Represents operating profit for our Acima segment as defined in Note 1. (2) Includes stock compensation expense of $32.9 million and $69.4 million recognized for the three and six months ended June 30, 2022, and $34.4 million and $50.3 million recognized for the three and six months ended June 30, 2021, related to common stock issued to Acima Holdings employees under restricted stock agreements as part of the acquisition consideration subject to vesting restrictions as described in Note 10. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Depreciation and amortization Rent-A-Center Business $ 4,622 $ 4,452 $ 11,036 $ 9,029 Acima (1)(2) 475 524 1,057 998 Mexico 163 119 312 239 Franchising 38 18 75 34 Total segments 5,298 5,113 12,480 10,300 Corporate (3) 7,582 8,453 14,930 16,659 Total depreciation and amortization $ 12,880 $ 13,566 $ 27,410 $ 26,959 (1) Represents depreciation and amortization for our Acima segment as defined in Note 1. (2) Excludes amortization expense of approximately $14.3 million and $36.4 million for the three and six months ended June 30, 2022, compared to $29.2 million and $43.2 million for the three and six months ended June 30, 2021, recorded to Other charges in the Condensed Consolidated Statement of Operations, related to intangible assets acquired upon closing of the Acima Holdings acquisition. See Note 10 for additional information. (3) Excludes depreciation expense of approximately $4.0 million and $8.0 million for the three and six months ended June 30, 2022, compared to $4.0 million and $5.3 million for the three and six months ended June 30, 2021, recorded to Other charges in the Condensed Consolidated Statement of Operations, related to software acquired upon closing of the Acima Holdings acquisition. See Note 10 for additional information. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Capital expenditures Rent-A-Center Business $ 6,795 $ 8,308 $ 20,203 $ 14,565 Acima (1) 143 515 189 669 Mexico 301 190 523 266 Franchising — — 112 — Total segments 7,239 9,013 21,027 15,500 Corporate 7,253 5,000 9,868 9,901 Total capital expenditures $ 14,492 $ 14,013 $ 30,895 $ 25,401 (1) Represents capital expenditures for our Acima segment as defined in Note 1. (in thousands) June 30, 2022 December 31, 2021 On rent rental merchandise, net Rent-A-Center Business $ 458,849 $ 477,901 Acima (1) 498,421 676,279 Mexico 19,908 18,844 Total on rent rental merchandise, net $ 977,178 $ 1,173,024 (1) Represents on-rent rental merchandise for our Acima segment as defined in Note 1. (in thousands) June 30, 2022 December 31, 2021 Held for rent rental merchandise, net Rent-A-Center Business $ 131,264 $ 123,111 Acima (1) 673 626 Mexico 8,833 9,247 Total held for rent rental merchandise, net $ 140,770 $ 132,984 (1) Represents held-for-rent rental merchandise for our Acima segment as defined in Note 1. (in thousands) June 30, 2022 December 31, 2021 Assets by segment Rent-A-Center Business $ 1,041,788 $ 1,026,886 Acima (1) 1,226,105 1,476,752 Mexico 45,346 41,669 Franchising 16,022 15,412 Total segments 2,329,261 2,560,719 Corporate 437,871 432,608 Total assets $ 2,767,132 $ 2,993,327 (1) Represents total assets for our Acima segment as defined in Note 1.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Common Share	Summarized basic and diluted earnings per common share were calculated as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2022 2021 2022 2021 Numerator: Net earnings $ 19,725 $ 61,309 $ 15,488 $ 103,861 Denominator: Weighted-average shares outstanding 53,998 58,295 53,875 57,271 Effect of dilutive stock awards (1) 5,674 9,525 6,021 9,787 Weighted-average dilutive shares 59,672 67,820 59,896 67,058 Basic earnings per common share $ 0.37 $ 1.05 $ 0.29 $ 1.81 Diluted earnings per common share (1) $ 0.33 $ 0.90 $ 0.26 $ 1.55 Anti-dilutive securities excluded from diluted earnings per common share: Anti-dilutive restricted share units 332 112 96 112 Anti-dilutive performance share units 226 236 350 236 Anti-dilutive stock options 535 34 266 34 (1) Weighted-average dilutive shares outstanding for the six months ended June 30, 2022 and 2021, includes approximately 5.2 million and 8.1 million common shares, respectively, issued in connection with the acquisition of Acima Holdings and subject to vesting conditions under restricted stock agreements.

Acquisitions and Divestitures_3

Acquisitions and Divestitures (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended					4 Months Ended	6 Months Ended
	Feb. 17, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2021
Business Acquisition [Line Items]
Deferred tax liability		$ 92,401						$ 92,401			$ 113,943
Goodwill		289,761						289,761			289,750
Accrued liabilities		318,099						318,099			362,708
Gross receivables		131,820						131,820			134,857
Allowance for doubtful accounts		9,226						9,226			$ 8,479
Operating Expenses		474,463		$ 480,953				1,009,515	$ 921,430
Total revenues		1,071,255		1,193,975				2,230,976	2,230,757
Net earnings(1)		$ 19,725	$ (4,237)	61,309	$ 42,552			15,488	103,861
Pro Forma [Member]
Business Acquisition [Line Items]
Operating Expenses				4,100		$ 71,700			106,200	$ 177,900
Acima Holdings [Member]
Business Acquisition [Line Items]
Aggregate cash consideration	$ 1,273,263
Aggregate stock consideration, subject to lockup agreements	120,929
Total Purchase price	$ 1,394,192
Acquisition date	Feb. 17, 2021
Description of acquired entity	Acima Holdings is a leading platform offering customers virtual lease-to-own solutions at the point-of-sale via web and mobile technology
Stock consideration, shares	10,779,923
Common stock price	$ 51.14
Receivables, net(1)	$ 25,255
Prepaid expenses and other assets	700
On rent	340,575
Property assets	171,455
Operating lease right-of-use assets	9,136
Deferred Tax Assets, Tax Deferred Expense	28,559
Goodwill	219,530
Other intangible assets	520,000
Total assets acquired	1,315,210
Accounts payable - trade	16,023
Accrued liabilities	11,716
Operating lease liabilities	9,689
Deferred income taxes	(116,410)
Total liabilities assumed	(78,982)
Total equity value	1,394,192
Gross receivables	61,600
Allowance for doubtful accounts	$ 34,700
Intangible assets remaining lives	8 years
Description of goodwill recognized	which consists of the excess of the net purchase price over the fair value of the net assets acquired. Goodwill represents expected cost and revenue synergies and other benefits expected to result within our retail partner business from the acquisition of Acima Holdings.
Acquisition related expenses	$ 23,900
Pro Forma total revenues				1,193,975		982,266			2,425,361	1,969,013
Pro Forma net earnings (loss)(1)				$ 65,448		$ 16,122			$ 121,861	$ (843)
Total revenues							$ 615,646
Net earnings(1)							$ 68,986
Adjustment to rental merchandise								$ 17,100
Goodwill, Purchase Accounting Adjustments			$ (22,200)
Acima Holdings [Member] | Software [Member]
Business Acquisition [Line Items]
Property assets	170,000
Acima Holdings [Member] | Merchant relationships [Member]
Business Acquisition [Line Items]
Other intangible assets	$ 380,000
Intangible assets remaining lives	10 years
Acima Holdings [Member] | Relationship with existing lessees [Member]
Business Acquisition [Line Items]
Other intangible assets	$ 60,000
Intangible assets remaining lives	1 year
Acima Holdings [Member] | Trade name [Member]
Business Acquisition [Line Items]
Other intangible assets	$ 40,000
Intangible assets remaining lives	7 years
Acima Holdings [Member] | Non-compete agreements [Member]
Business Acquisition [Line Items]
Other intangible assets	$ 40,000
Intangible assets remaining lives	3 years
Acima Holdings [Member] | Technology-Based Intangible Assets
Business Acquisition [Line Items]
Intangible assets remaining lives	10 years
Acima Holdings [Member] | Share-based Payment Arrangement [Member]
Business Acquisition [Line Items]
Stock consideration, shares	2,683,328
Acima Holdings [Member] | Restricted Stock Units [Member]
Business Acquisition [Line Items]
Aggregate stock consideration, subject to lockup agreements	$ 414,100
Stock consideration, shares	8,096,595							5,200,000	8,100,000

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Rentals and fees	$ 857,298	$ 916,405	$ 1,740,345	$ 1,661,939
Merchandise sales	160,769	221,229	393,649	454,022
Installment sales	18,548	18,191	35,637	35,964
Other	1,068	1,035	2,358	1,953
Total store revenues	1,037,683	1,156,860	2,171,989	2,153,878
Merchandise sales	26,505	29,616	45,026	62,671
Royalty income and fees	7,067	7,499	13,961	14,208
Total revenues	1,071,255	1,193,975	2,230,976	2,230,757
Rental purchase agreements [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	32,500		32,500		$ 51,700
Other product plans [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	2,300		2,300		2,600
Franchise fees [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	3,800		3,800		$ 4,100
Rent-A-Center Business [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	436,371	438,162	879,066	867,463
Merchandise sales	34,952	49,050	93,246	126,428
Installment sales	18,548	18,191	35,637	35,964
Other	314	431	741	845
Total store revenues	490,185	505,834	1,008,690	1,030,700
Merchandise sales	0	0	0	0
Royalty income and fees	0	0	0	0
Total revenues	490,185	505,834	1,008,690	1,030,700
Acima [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	405,184	463,841	830,655	766,367
Merchandise sales	124,888	171,346	298,670	325,976
Installment sales	0	0	0	0
Other	98	93	221	386
Total store revenues	530,170	635,280	1,129,546	1,092,729
Merchandise sales	0	0	0	0
Royalty income and fees	0	0	0	0
Total revenues	530,170	635,280	1,129,546	1,092,729
Mexico [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	15,743	14,402	30,624	28,109
Merchandise sales	929	833	1,733	1,618
Installment sales	0	0	0	0
Other	29	20	56	26
Total store revenues	16,701	15,255	32,413	29,753
Merchandise sales	0	0	0	0
Royalty income and fees	0	0	0	0
Total revenues	16,701	15,255	32,413	29,753
Franchising [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	0	0	0	0
Merchandise sales	0	0	0	0
Installment sales	0	0	0	0
Other	627	491	1,340	696
Total store revenues	627	491	1,340	696
Merchandise sales		29,616		62,671
Royalty income and fees		7,499		14,208
Total revenues	$ 34,199	$ 37,606	$ 60,327	$ 77,575

Receivables and Allowance for_3

Receivables and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Receivables [Line Items]
Interest paid on installment agreements	$ 6,100	$ 6,100
Gross receivables	131,820		$ 134,857
Total receivables, net of allowance for doubtful accounts	122,594		126,378
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts	9,226		8,479
Bad debt expense	9,495
Accounts written off, net of recoveries	(8,748)
Installment sales receivable [Member]
Receivables [Line Items]
Gross receivables	67,500		66,276
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts	8,100		7,600
Trade and notes receivables [Member]
Receivables [Line Items]
Gross receivables	64,320		68,581
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts	$ 1,100		$ 900

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Operating lease charges	$ 28,790	$ 31,634	$ 58,242	$ 62,587
Cash paid for amounts included in measurement of operating lease liabilities			51,847	53,758
Right-of-use assets obtained in exchange for new operating lease liabilities			$ 57,229	61,824
Weighted-average discount rate	6.20%		6.20%		6%
Operating lease charges	$ 28,790	31,634	$ 58,242	62,587
Lease, Cost [Abstract]
Cash paid for short-term operating leases not included in operating lease liabilities			$ 9,179	9,373
Weighted average remaining lease term (in years)	4 years		4 years		4 years
Sublease receipts	$ (1,893)	(3,134)	$ (4,058)	(6,483)
Variable lease cost	9,000	8,400	17,800	16,900
Operating lease charges	28,790	31,634	58,242	62,587
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	53,278		53,278
2023	93,964		93,964
2024	76,002		76,002
2025	58,590		58,590
2026	35,118		35,118
Thereafter	26,863		26,863
Total undiscounted operating lease liabilities	343,815		343,815
Less: Interest	(36,690)		(36,690)
Operating lease liabilities	307,125		307,125		$ 296,535
Other store expenses [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges	30,671	34,690	62,265	68,826
Operating lease charges	30,671	34,690	62,265	68,826
Lease, Cost [Abstract]
Operating lease charges	30,671	34,690	62,265	68,826
Other charges [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges	12	78	35	244
Operating lease charges	12	78	35	244
Lease, Cost [Abstract]
Operating lease charges	$ 12	$ 78	$ 35	$ 244

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	49.50%	28.80%	50.40%	23.40%

Senior Debt (Details)

Senior Debt (Details) - USD ($)		3 Months Ended		6 Months Ended
	Sep. 21, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Feb. 17, 2021
Debt Instrument [Line Items]
Original issue discount							$ 4,400,000
Debt issuance costs	$ 1,500,000						30,200,000
Other charges		$ 53,668,000	$ 72,653,000	$ 123,816,000	$ 123,772,000
Letters of credit, amount outstanding		72,200,000		$ 72,200,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.375%
Line of credit commitment fee				$ 800,000
2022		4,375,000		4,375,000
2023		8,750,000		8,750,000
2024		8,750,000		8,750,000
2025		8,750,000		8,750,000
2026		98,750,000		98,750,000
Thereafter		824,687,000		824,687,000
Senior debt, net		954,062,000		954,062,000
Write-off of debt financing fees	5,400,000			0	$ 4,546,000
Debt Issuance Costs [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	$ 100,000	18,300,000		18,300,000
Other charges				4,900,000
Original Issue Discount [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense		$ 2,700,000		$ 2,700,000
Term loan credit [Member]
Debt Instrument [Line Items]
Senior secured term loan facility							875,000,000
Debt Instrument, Maturity Date				Feb. 17, 2028
Debt Instrument, Frequency of Periodic Payment				quarterly
Debt Instrument, Periodic Payment, Percent				1%
Actual margin on variable rate		4.94%		4.94%
2022		$ 4,375,000		$ 4,375,000
2023		8,750,000		8,750,000
2024		8,750,000		8,750,000
2025		8,750,000		8,750,000
2026		8,750,000		8,750,000
Thereafter		824,687,000		824,687,000
Senior debt, net		864,062,000		$ 864,062,000		$ 197,500,000
Term loan credit [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis margin on variable rate				3.25%
Term loan credit [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis margin on variable rate				0.50%
Term loan credit [Member] | Debt Issuance Costs [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense							25,300,000
ABL credit facility [Member]
Debt Instrument [Line Items]
Revolving credit facility commitments							$ 550,000,000
ABL Credit Facility amount available		$ 387,800,000		$ 387,800,000
Debt Instrument, Maturity Date				Feb. 17, 2026
Actual margin on variable rate		3.375%		3.375%
Required consolidated fixed charge coverage ratio, minimum		1.10		1.10
Actual fixed charge coverage ratio		0.81		0.81
2022		$ 0		$ 0
2023		0		0
2024		0		0
2025		0		0
2026		90,000,000		90,000,000
Thereafter		0		0
Senior debt, net		$ 90,000,000		$ 90,000,000
Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.375%
Maximum [Member] | Term loan credit [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis margin on variable rate				4%
Maximum [Member] | Term loan credit [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis margin on variable rate				0.75%
Maximum [Member] | ABL credit facility [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis margin on variable rate				2%
Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.25%
Minimum [Member] | Term loan credit [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis margin on variable rate				3.25%
Minimum [Member] | Term loan credit [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis margin on variable rate				0.50%
Minimum [Member] | ABL credit facility [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis margin on variable rate				1.50%

Senior Notes (Details)

Senior Notes (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Sep. 21, 2021	Feb. 17, 2021
Debt Issuance Costs [Member]
Senior Notes [Line Items]
Unamortized Debt Issuance Expense	$ 18,300	$ 100
Senior Notes [Member]
Senior Notes [Line Items]
Initial borrowing in senior notes	$ 450,000		$ 450,000
Unamortized Debt Issuance Expense			$ 15,700
Debt Instrument, Redemption Price, Percentage	106.375%
Debt Instrument, Interest Rate, Stated Percentage			6.375%
Senior Notes [Member] | Debt Issuance Costs [Member]
Senior Notes [Line Items]
Unamortized Debt Issuance Expense	$ 13,500

Fair Value (Details)

Fair Value (Details) - Senior Notes [Member] - USD ($) $ in Thousands	Jun. 30, 2022	Feb. 17, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Initial borrowing in senior notes	$ 450,000	$ 450,000
Fair value	351,000
Difference	$ (99,000)

Other Charges (Details)

Other Charges (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 17, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Depreciation of property assets				$ 34,854	$ 31,782
Charges & Adjustments				4,785
Accrued Charges		$ 3,968		3,968		$ 1,593
Payments & Adjustments				(2,410)
Acima Holdings restricted stock agreements(2)				77,848	59,714
Depreciation and amortization		12,880	$ 13,566	27,410	26,959
Asset impairments(4)				5,181
Other charges		53,668	72,653	123,816	123,772
Non-Cash Charges [Member]
Restructuring Cost and Reserve [Line Items]
Other				95
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Charges & Adjustments				385
Accrued Charges		0		0		0
Payments & Adjustments				385
Acima Holdings [Member]
Restructuring Cost and Reserve [Line Items]
Stock consideration, shares	10,779,923
Stock consideration, value	$ 120,929
Other intangible assets	520,000
Property assets	$ 171,455
Depreciation of property assets		4,000	4,000	8,000	5,300
Amortization		14,300	29,200	36,400	43,200
Acima Holdings restricted stock agreements(2)		32,900	$ 34,400	69,430	$ 50,300
Depreciation and amortization				$ 44,325
Acima Holdings [Member] | Restricted Stock Units [Member]
Restructuring Cost and Reserve [Line Items]
Stock consideration, shares	8,096,595			5,200,000	8,100,000
Stock consideration, value	$ 414,100
Acima Holdings [Member] | Software [Member]
Restructuring Cost and Reserve [Line Items]
Property assets	$ 170,000
Acima Holdings [Member] | Transaction costs [Member]
Restructuring Cost and Reserve [Line Items]
Charges & Adjustments				$ 187	$ 17,100
Accrued Charges		0		0		0
Payments & Adjustments				(187)
Acima Holdings [Member] | Integration costs [Member]
Restructuring Cost and Reserve [Line Items]
Charges & Adjustments					3,900
Acima Holdings [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Charges & Adjustments				4,213	3,100
Accrued Charges		$ 3,968		3,968		$ 1,593
Payments & Adjustments				$ (1,838)
Acima Holdings [Member] | Incremental legal and professional fees [Member]
Restructuring Cost and Reserve [Line Items]
Charges & Adjustments					$ 800

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		4 Months Ended	6 Months Ended
	Feb. 17, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenues		$ 1,071,255	$ 1,193,975		$ 2,230,976	$ 2,230,757
Gross profit		532,544	587,472		1,078,638	1,097,995
Operating profit		58,081	106,519		69,123	176,565
Depreciation and amortization		12,880	13,566		27,410	26,959
Capital expenditures		14,492	$ 14,013		30,895	25,401
On rent		977,178			977,178		$ 1,173,024
Rental merchandise held for rent, net		140,770			140,770		132,984
Assets		$ 2,767,132			2,767,132		2,993,327
Depreciation of property assets					$ 34,854	$ 31,782
Weighted-average shares outstanding		53,998,000	58,295,000		53,875,000	57,271,000
Acima Holdings restricted stock agreements(2)					$ 77,848	$ 59,714
Acima Holdings [Member]
Segment Reporting Information [Line Items]
Total revenues				$ 615,646
Amortization		$ 14,300	$ 29,200		36,400	43,200
Depreciation of property assets		4,000	4,000		8,000	5,300
Stock consideration, shares	10,779,923
Acima Holdings restricted stock agreements(2)		32,900	34,400		69,430	50,300
Rent-A-Center Business [Member]
Segment Reporting Information [Line Items]
Total revenues		490,185	505,834		1,008,690	1,030,700
Gross profit		348,060	357,187		711,440	716,356
Operating profit		99,108	126,487		199,284	247,764
Depreciation and amortization		4,622	4,452		11,036	9,029
Capital expenditures		6,795	8,308		20,203	14,565
On rent		458,849			458,849		477,901
Rental merchandise held for rent, net		131,264			131,264		123,111
Assets		1,041,788			1,041,788		1,026,886
Acima [Member]
Segment Reporting Information [Line Items]
Total revenues		530,170	635,280		1,129,546	1,092,729
Mexico [Member]
Segment Reporting Information [Line Items]
Total revenues		16,701	15,255		32,413	29,753
Gross profit		11,811	10,818		22,912	21,030
Operating profit		1,949	2,420		4,015	4,374
Depreciation and amortization		163	119		312	239
Capital expenditures		301	190		523	266
On rent		19,908			19,908		18,844
Rental merchandise held for rent, net		8,833			8,833		9,247
Assets		45,346			45,346		41,669
Franchising [Member]
Segment Reporting Information [Line Items]
Total revenues		34,199	37,606		60,327	77,575
Gross profit		7,592	8,063		14,978	14,955
Operating profit		5,303	5,694		10,093	10,679
Depreciation and amortization		38	18		75	34
Capital expenditures		0	0		112	0
Assets		16,022			16,022		15,412
Acima Holdings [Member]
Segment Reporting Information [Line Items]
Total revenues		530,170	635,280		1,129,546	1,092,729
Gross profit		165,081	211,404		329,308	345,654
Operating profit		35,835	68,099		45,433	92,913
Depreciation and amortization		475	524		1,057	998
Capital expenditures		143	515		189	669
On rent		498,421			498,421		676,279
Rental merchandise held for rent, net		673			673		626
Assets		1,226,105			1,226,105		1,476,752
Total Segments [Member]
Segment Reporting Information [Line Items]
Operating profit		142,195	202,700		258,825	355,730
Depreciation and amortization		5,298	5,113		12,480	10,300
Capital expenditures		7,239	9,013		21,027	15,500
Assets		2,329,261			2,329,261		2,560,719
Corporate [Member]
Segment Reporting Information [Line Items]
Operating profit		(84,114)	(96,181)		(189,702)	(179,165)
Depreciation and amortization		7,582	8,453		14,930	16,659
Capital expenditures		7,253	$ 5,000		9,868	$ 9,901
Assets		$ 437,871			$ 437,871		$ 432,608

Common Stock and Stock-Based _2

Common Stock and Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 17, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount		$ 500,000		$ 500,000
Treasury Stock, Shares, Acquired				0
Stock-based compensation expense				$ 77,848	$ 59,714
Performance-based restricted stock units granted				687,000
Time-vesting restricted stock units granted				323,000
Acima Holdings [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		32,900	$ 34,400	$ 69,430	$ 50,300
Stock consideration, shares	10,779,923
Common stock price	$ 51.14
Stock consideration, value	$ 120,929
Acima Holdings [Member] | Share-based Payment Arrangement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock consideration, shares	2,683,328
Acima Holdings [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock consideration, shares	8,096,595			5,200,000	8,100,000
Stock consideration, value	$ 414,100
2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 3,600	$ 5,100	$ 8,400	$ 9,400
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				$ 24.72
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				$ 30.59

Contingencies (Details)

Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Escrow Deposit	$ 50
Payments for Legal Settlements	$ 15.5

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended				4 Months Ended	6 Months Ended
	Feb. 17, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Common Share
Net earnings		$ 19,725	$ (4,237)	$ 61,309	$ 42,552		$ 15,488	$ 103,861
Weighted-average shares outstanding		53,998,000		58,295,000			53,875,000	57,271,000
Effect of dilutive stock awards(1)		5,674,000		9,525,000			6,021,000	9,787,000
Weighted-average dilutive shares		59,672,000		67,820,000			59,896,000	67,058,000
Basic earnings per common share		$ 0.37		$ 1.05			$ 0.29	$ 1.81
Diluted earnings per common share(1)		$ 0.33		$ 0.90			$ 0.26	$ 1.55
Acima Holdings [Member]
Earnings Per Common Share
Net earnings						$ 68,986
Stock consideration, shares	10,779,923
Restricted Stock Units [Member] | Acima Holdings [Member]
Earnings Per Common Share
Stock consideration, shares	8,096,595						5,200,000	8,100,000
Retained Earnings [Member]
Earnings Per Common Share
Net earnings		$ 19,725	$ (4,237)	$ 61,309	$ 42,552		$ 15,488	$ 103,861
Performance-based restricted stock units [Member]
Earnings Per Common Share
Anti-dilutive securities		226,000		236,000			350,000	236,000
Stock options [Member]
Earnings Per Common Share
Anti-dilutive securities		535,000		34,000			266,000	34,000
Restricted share units [Member]
Earnings Per Common Share
Anti-dilutive securities		332,000		112,000			96,000	112,000