Upbound (UPBD) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Document and Company Informatio

Document and Company Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 24, 2023
Document And Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Entity Registrant Name	Upbound Group, Inc.
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	UPBD
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		54,294,852
Entity Central Index Key	0000933036
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Store
Rentals and fees	$ 806,766	$ 829,459	$ 2,421,039	$ 2,569,804
Merchandise sales	127,564	147,616	415,256	541,265
Installment sales	13,444	16,718	45,191	52,355
Other	1,429	1,340	4,422	3,698
Total store revenues	949,203	995,133	2,885,908	3,167,122
Franchise
Merchandise sales	24,082	22,823	69,778	67,849
Royalty income and fees	5,813	6,001	18,636	19,962
Total revenues	979,098	1,023,957	2,974,322	3,254,933
Store
Cost of rentals and fees	296,820	310,079	885,662	968,655
Cost of merchandise sold	155,937	179,477	492,879	615,543
Cost of installment sales	5,102	6,032	16,359	18,379
Total cost of store revenues	457,859	495,588	1,394,900	1,602,577
Franchise cost of merchandise sold	24,073	22,834	69,766	68,183
Total cost of revenues	481,932	518,422	1,464,666	1,670,760
Gross profit	497,166	505,535	1,509,656	1,584,173
Store expenses
Labor	152,080	156,192	460,470	486,751
Other store expenses	191,455	197,847	569,267	624,306
General and administrative expenses	53,898	40,002	150,434	141,273
Depreciation and amortization	12,624	12,798	38,102	40,208
Other charges	29,057	61,619	184,413	185,435
Total operating expenses	439,114	468,458	1,402,686	1,477,973
Operating profit	58,052	37,077	106,970	106,200
Interest expense	27,887	22,960	84,233	61,018
Interest income	(1,255)	(216)	(2,690)	(353)
Earnings before income taxes	31,420	14,333	25,427	45,535
Income tax expense	27,057	20,111	19,352	35,825
Net earnings (loss)	$ 4,363	$ (5,778)	$ 6,075	$ 9,710
Basic earnings (loss) per common share	$ 0.08	$ (0.10)	$ 0.11	$ 0.18
Diluted earnings (loss) per common share	0.08	(0.10)	0.11	0.16
Cash dividends declared per common share	$ 0.34	$ 0.34	$ 1.02	$ 1.02

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 4,363	$ (5,778)	$ 6,075	$ 9,710
Foreign currency translation adjustments, net of tax of $(725) and $(163), $1,202 and $(14) for the three and nine months ended September 30, 2023 and 2022, respectively	(2,729)	(615)	4,520	(51)
Total other comprehensive (loss) income	(2,729)	(615)	4,520	(51)
Comprehensive income (loss)	$ 1,634	$ (6,393)	$ 10,595	$ 9,659

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation tax adjustment	$ (725)	$ (163)	$ 1,202	$ (14)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 105,726	$ 144,141
Receivables, net of allowance for doubtful accounts of $13,120 and $13,214 in 2023 and 2022, respectively	104,772	111,865
Prepaid expenses and other assets	55,671	46,070
Rental merchandise, net
On rent	968,965	989,869
Held for rent	122,493	134,959
Merchandise held for installment sale	5,537	6,988
Property assets, net of accumulated depreciation of $627,488 and $576,675 in 2023 and 2022, respectively	277,216	295,371
Operating lease right-of-use assets	295,879	302,311
Deferred tax asset	84,164	82,886
Goodwill	289,750	289,750
Other intangible assets, net	315,902	359,409
Total assets	2,626,075	2,763,619
LIABILITIES
Accounts payable – trade	132,379	155,449
Accrued liabilities	299,597	320,624
Operating lease liabilities	299,509	305,556
Deferred tax liability	57,947	87,986
Senior debt, net	799,973	930,902
Senior notes, net	439,425	437,956
Total liabilities	2,028,830	2,238,473
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value; 250,000,000 shares authorized; 125,354,405 and 125,028,169 shares issued in September 30, 2023 and December 31, 2022, respectively	1,108	1,080
Additional paid-in capital	1,443,667	1,298,094
Retained earnings	1,026,309	1,077,189
Treasury stock at cost, 70,270,920 and 69,354,651 shares in September 30, 2023 and December 31, 2022	(1,867,733)	(1,840,591)
Accumulated other comprehensive loss	(6,106)	(10,626)
Total Stockholders' Equity	597,245	525,146
Total Liabilities and Stockholders' Equity	$ 2,626,075	$ 2,763,619

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 13,120	$ 13,214
Property assets, accumulated depreciation	$ 627,488	$ 576,675
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares, issued (in shares)	125,354,405	125,028,169
Treasury stock (in shares)	70,270,920	69,354,651
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
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 (loss)	(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 (loss)	9,710
Total other comprehensive (loss) income	(51)
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 (loss)	19,725			19,725
Total other comprehensive (loss) income	(97)					(97)
Exercise of stock options, shares		52
Exercise of stock options	783		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)
Net earnings (loss)	(5,778)			(5,778)
Total other comprehensive (loss) income	(615)					(615)
Purchase of treasury stock	(29,797)	$ (13)			(29,784)
Exercise of stock options, shares		33
Exercise of stock options	461		461
Vesting of restricted share units, net of shares withheld for employee taxes, shares		5
Vesting of restricted share units, net of shares withheld for employee taxes	0	$ 45	(45)
Tax effect of stock awards vested and options exercised	(42)		(42)
Stock-based compensation	44,773		44,773
Dividends declared	(19,673)			(19,673)
Common stock, shares, outstanding		125,019
Total stockholders' equity	548,163	$ 1,103	1,261,323	1,093,517	(1,795,358)	(12,422)
Common stock, shares, outstanding		125,028
Total stockholders' equity	525,146	$ 1,080	1,298,094	1,077,189	(1,840,591)	(10,626)
Net earnings (loss)	47,330			47,330
Total other comprehensive (loss) income	3,104					3,104
Exercise of stock options, shares		55
Exercise of stock options	684	$ 1	683
Vesting of restricted share units, net of shares withheld for employee taxes, shares		204
Vesting of restricted share units, net of shares withheld for employee taxes	0	$ 31	(31)
Tax effect of stock awards vested and options exercised	(2,535)		(2,535)
Stock-based compensation	115,681		115,681
Dividends declared	(19,068)			(19,068)
Net earnings (loss)	6,075
Total other comprehensive (loss) income	4,520
Common stock, shares, outstanding		125,287
Total stockholders' equity	670,342	$ 1,112	1,411,892	1,105,451	(1,840,591)	(7,522)
Net earnings (loss)	(45,618)			(45,618)
Total other comprehensive (loss) income	4,145					4,145
Exercise of stock options, shares		19
Exercise of stock options	371		371
Vesting of restricted share units, net of shares withheld for employee taxes, shares		2
Vesting of restricted share units, net of shares withheld for employee taxes	0	$ 1	(1)
Stock-based compensation	15,425		15,425
Dividends declared	(19,072)			(19,072)
Common stock, shares, outstanding		125,308
Total stockholders' equity	625,593	$ 1,113	1,427,687	1,040,761	(1,840,591)	(3,377)
Net earnings (loss)	4,363			4,363
Total other comprehensive (loss) income	(2,729)					(2,729)
Purchase of treasury stock	(27,151)	$ (9)			(27,142)
Exercise of stock options, shares		27
Exercise of stock options	463		463
Vesting of restricted share units, net of shares withheld for employee taxes, shares		19
Vesting of restricted share units, net of shares withheld for employee taxes	0	$ 4	(4)
Tax effect of stock awards vested and options exercised	(97)		(97)
Stock-based compensation	15,618		15,618
Dividends declared	(18,815)			(18,815)
Common stock, shares, outstanding		125,354
Total stockholders' equity	$ 597,245	$ 1,108	$ 1,443,667	$ 1,026,309	$ (1,867,733)	$ (6,106)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net earnings (loss)	$ 6,075	$ 9,710
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation of rental merchandise	859,001	937,728
Bad debt expense	17,533	18,100
Stock-based compensation expense	146,724	122,621
Depreciation of property assets	53,894	51,384
Loss on sale or disposal of property assets	413	5,979
Amortization of intangibles	43,518	51,382
Amortization of financing fees	4,770	4,798
Deferred income taxes	(32,488)	(21,025)
Changes in operating assets and liabilities, net of acquired assets
Rental merchandise	(824,151)	(704,191)
Receivables	(10,441)	(4,951)
Prepaid expenses and other assets	(9,600)	(7,808)
Operating lease right-of-use assets and lease liabilities	385	(2,047)
Accounts payable – trade	(23,070)	4,085
Accrued liabilities	(12,621)	(53,682)
Net cash provided by operating activities	219,942	412,083
Cash flows from investing activities
Purchase of property assets	(36,167)	(49,436)
Proceeds from sale of property assets	15	35
Acquisitions of businesses	(39)	(775)
Net cash used in investing activities	(36,191)	(50,176)
Cash flows from financing activities
Share repurchases	(24,049)	(29,797)
Exercise of stock options	1,518	1,720
Shares withheld for payment of employee tax withholdings	(2,632)	(9,477)
Proceeds from debt	0	90,000
Repayments of debt	(134,229)	(296,563)
Dividends paid	(64,366)	(60,410)
Net cash used in financing activities	(223,758)	(304,527)
Effect of exchange rate changes on cash	1,592	(86)
Net (decrease) increase in cash and cash equivalents	(38,415)	57,294
Cash and cash equivalents at beginning of period	144,141	108,333
Cash and cash equivalents at end of period	$ 105,726	$ 165,627

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Basis of Presentation [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed consolidated financial statements of Upbound Group, 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, 2022. 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, including those related to recent macroeconomic trends or other factors, 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 Upbound Group, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context indicates otherwise, references to “Upbound Group, Inc.” refer only to Upbound Group, Inc., the parent, and references to the “Company”, “we,” “us” and “our” refer to the consolidated business operations of Upbound Group and any or all of its direct and indirect subsidiaries. We report four operating segments: Rent-A-Center, Acima, Mexico, and Franchising. Our Rent-A-Center 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 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, and includes the operations of Acima Holdings and certain locations previously operating under our Preferred Lease brand, 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 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 Upbound Group, Inc., 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.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2023
Revenues [Abstract]
Revenues	Revenues The following tables disaggregate our revenue for the periods ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Rent-A-Center Acima Mexico Franchising Consolidated (in thousands) Store Rentals and fees $ 413,051 $ 375,202 $ 18,513 $ — $ 806,766 Merchandise sales 26,819 99,857 888 — 127,564 Installment sales 13,444 — — — 13,444 Other 318 157 241 713 1,429 Total store revenues 453,632 475,216 19,642 713 949,203 Franchise Merchandise sales — — — 24,082 24,082 Royalty income and fees — — — 5,813 5,813 Total revenues $ 453,632 $ 475,216 $ 19,642 $ 30,608 $ 979,098 Nine Months Ended September 30, 2023 Rent-A-Center Acima Mexico Franchising Consolidated (in thousands) Store Rentals and fees $ 1,260,745 $ 1,107,943 $ 52,351 $ — $ 2,421,039 Merchandise sales 97,905 314,741 2,610 — 415,256 Installment sales 45,191 — — — 45,191 Other 990 737 565 2,130 4,422 Total store revenues 1,404,831 1,423,421 55,526 2,130 2,885,908 Franchise Merchandise sales — — — 69,778 69,778 Royalty income and fees — — — 18,636 18,636 Total revenues $ 1,404,831 $ 1,423,421 $ 55,526 $ 90,544 $ 2,974,322 Three Months Ended September 30, 2022 Rent-A-Center Acima Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 426,805 $ 387,488 $ 15,166 $ — $ 829,459 Merchandise sales 30,009 116,795 812 — 147,616 Installment sales 16,718 — — — 16,718 Other 223 165 63 889 1,340 Total store revenues 473,755 504,448 16,041 889 995,133 Franchise Merchandise sales — — — 22,823 22,823 Royalty income and fees — — — 6,001 6,001 Total revenues $ 473,755 $ 504,448 $ 16,041 $ 29,713 $ 1,023,957 Nine Months Ended September 30, 2022 Rent-A-Center Acima Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 1,305,871 $ 1,218,143 $ 45,790 $ — $ 2,569,804 Merchandise sales 123,255 415,465 2,545 — 541,265 Installment sales 52,355 — — — 52,355 Other 964 386 119 2,229 3,698 Total store revenues 1,482,445 1,633,994 48,454 2,229 3,167,122 Franchise Merchandise sales — — — 67,849 67,849 Royalty income and fees — — — 19,962 19,962 Total revenues $ 1,482,445 $ 1,633,994 $ 48,454 $ 90,040 $ 3,254,933 Lease Purchase Agreements Rent-A-Center, Acima, and Mexico Rentals and Fees. Rental merchandise is leased to customers pursuant to lease-to-own agreements, which provide for weekly, bi-weekly, semi-monthly or monthly terms with non-refundable lease payments. At the expiration of each lease term, customers may renew the lease-to-own agreement for the next lease term. Generally, the customer has the right to acquire title of the merchandise either through a purchase option or through payment of all required lease terms. Customers can terminate the lease-to-own agreement and return the product at the end of any lease term without penalty. Therefore, lease-to-own agreements are accounted for as operating leases. Lease payments received at our Rent-A-Center stores, certain Acima staffed locations formerly operating under the Preferred Lease brand, and Mexico stores must be prepaid in advance of the next lease term. Under the Acima Holdings business model, revenues may be earned prior to the lease payment due date, in which case revenue is accrued prior to receipt of the lease payment, net of estimated returns and uncollectible renewal payments. Under both models, rental revenue is recognized over the lease term. See Note 3 for additional information regarding accrued lease 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 lease term. At September 30, 2023 and December 31, 2022, we had $56.6 million and $54.9 million, respectively, in deferred revenue included in accrued liabilities related to our lease-to-own 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 stores, certain Acima staffed locations formerly operating under the Preferred Lease brand, and Mexico stores is depreciated using the income forecasting method and recognized in cost of rentals and fees in our Condensed Consolidated Statement of Operations over the lease term. Lease merchandise under Acima Holdings is depreciated over the lease term using a straight-line depreciation method. Under the income forecasting method, the consumption of lease merchandise occurs during periods of rental and depreciation directly coincides with the receipt of rental revenue over the lease-to-own contract period. Depreciation under the straight-line method is recognized each period over the term of the lease-to-own contract irrespective of receipt of revenue payments from the customer. We also offer additional product plans along with our lease-to-own 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, Acima, and Mexico Merchandise Sales. Merchandise sales include payments received for the exercise of the early purchase options offered through our lease-to-own 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 September 30, 2023 and December 31, 2022, we had $1.2 million and $2.0 million, respectively, 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 September 30, 2023 and December 31, 2022, we had $3.1 million and $3.4 million, respectively, in deferred revenue included in accrued liabilities related to franchise fees.

Receivables and Allowance for D

Receivables and Allowance for Doubtful Accounts	9 Months Ended
	Sep. 30, 2023
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 receivables 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 each of the nine months ended September 30, 2023 and 2022 wa s $8.7 million and $9.2 million, respectively. Trade and notes receivables consist of amounts due from our lease-to-own customers for lease renewal payments and past due uncollected lease payments, adjusted for the probability of collection based on our assessment of historical collection rates and length of time the receivable is past due; 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) September 30, 2023 December 31, 2022 Installment sales receivables $ 62,236 $ 69,550 Trade and notes receivables (1) 55,656 55,529 Total receivables 117,892 125,079 Less allowance for doubtful accounts (2) (13,120) (13,214) Total receivables, net of allowance for doubtful accounts $ 104,772 $ 111,865 (1) Trade and notes receivables includes accrued revenue, adjusted for the probability of collection, related to our lease-to-own agreements of $29.9 million and $28.7 million at September 30, 2023 and December 31, 2022, respectively. (2) Lease receivables are accrued on a net basis, adjusted for the probability of collection based on our assessment of historical collection rates, as described above. Therefore, we do not maintain a separate allowance for doubtful accounts related to our lease receivables. 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 Franchising trade and notes receivables was $1.1 million and $1.2 million at September 30, 2023 and December 31, 2022, respectively, and the allowance for doubtful accounts related to installment sales receivables was $12.0 million at both September 30, 2023 and December 31, 2022. Changes in our allowance for doubtful accounts are as follows: (in thousands) September 30, 2023 Beginning allowance for doubtful accounts $ 13,214 Bad debt expense (1) 17,533 Accounts written off, net of recoveries (17,627) Ending allowance for doubtful accounts $ 13,120 (1) Uncollectible installment payments, franchisee obligations, and other corporate receivables are recognized in other store operating expenses in our condensed consolidated financial statements.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases We lease space for all of our Rent-A-Center and Mexico stores under operating leases expiring at various times through 2034. 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 years 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 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 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 September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Operating lease cost included in Other store expenses (1)(2) $ 31,143 $ 31,100 $ 93,208 $ 93,365 Operating lease cost included in Other charges — 264 — 299 Sublease receipts (734) (1,642) (3,012) (5,700) Total operating lease charges $ 30,409 $ 29,722 $ 90,196 $ 87,964 (1) Includes short-term lease costs, which are not significant. (2) Excludes variable lease costs of $9.9 million and $29.0 million for the three and nine months ended September 30, 2023, respectively, compared to $9.4 million and $27.2 million for the three and nine months ended September 30, 2022, respectively. Supplemental cash flow information related to leases: Nine Months Ended September 30, (in thousands) 2023 2022 Cash paid for amounts included in measurement of operating lease liabilities $ 79,871 $ 77,780 Cash paid for short-term operating leases not included in operating lease liabilities 13,240 14,170 Right-of-use assets obtained in exchange for new operating lease liabilities 50,786 81,937 Weighted-average discount rate and weighted-average remaining lease term: September 30, 2023 December 31, 2022 Weighted-average discount rate (1) 7.6 % 7.0 % 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 September 30, 2023: (in thousands) Operating Leases 2023 $ 29,524 2024 103,277 2025 85,151 2026 59,870 2027 38,556 Thereafter 33,499 Total undiscounted operating lease liabilities 349,877 Less: Interest (50,368) Total present value of operating lease liabilities $ 299,509

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax	Income Taxes The effective tax rate was 76.1% for the nine months ended September 30, 2023, compared to 78.7% for the corresponding period in 2022. The effective tax rates for the nine months ended September 30, 2023 and 2022 were impacted by the difference between recorded goodwill and goodwill recognized for tax purposes, primarily related to stock consideration issued to employee former owners of Acima Holdings subject to restricted stock agreements. Please reference Note 9 for additional information regarding the recognition of these restricted stock units in our condensed consolidated financial statements. For tax purposes, restricted stock units subject to restricted stock agreements issued to the former owners of Acima Holdings were recorded as goodwill and will be amortized over a period of 15 years.

Senior Debt

Senior Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Senior Debt	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. On September 21, 2021 we entered into a 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, and 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. On August 10, 2022, we entered into a First Amendment to the ABL Credit Facility, effective as of August 10, 2022. The amendment effected the replacement of LIBOR with Term Secured Overnight Financing Rate (“Term SOFR”) as the benchmark rate of interest thereunder. On June 15, 2023, we entered into a Second Amendment to the Term Loan Facility, effective as of June 15, 2023. The amendment effected the replacement of LIBOR with Term SOFR as the benchmark rate of interest and also resulted in a repricing of the applicable margin by 26 basis points from 3.25% to 3.51% effective July 31, 2023. In connection with the First Amendment to the ABL Credit Facility and the Second Amendment to the Term Loan Facility described above, we have elected optional expedients available under ASC Topic 848, “Reference Rate Reform” which classify contract amendments for the transition of LIBOR as events that do not require accounting reassessments as a contract modification. As of September 30, 2023, 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 $13.4 million and $2.1 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 $815.5 million at September 30, 2023. We had no outstanding borrowings under our ABL Credit Facility at September 30, 2023 and borrowing capacity of $485.6 million, net of issued letters of credit of approximately $64.4 million, primarily relating to 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 Term SOFR rate plus an applicable margin of 3.51%, subject to a 0.50% Term SOFR floor. The total interest rate on the Term Loan Facility was 8.881% at September 30, 2023. 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 governing documents of the Term Loan. In the event our Consolidated Secured Leverage Ratio (as such term is defined in the Term Loan Facility credit agreement) exceeds 1:1, we are required to prepay the loans under the Term Loan Facility by a percentage of annual excess cash flow, as more fully described in the Term Loan Facility credit agreement. We made mandatory excess cash flow prepayments of approximately $42.6 million, including $0.6 million in accrued interest, in March 2023, relating to results for the year ended December 31, 2022. 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. 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 Term SOFR plus an applicable margin of 1.50% to 2.00%. The total interest rate on the ABL Credit Facility at September 30, 2023 was 7.52%. 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 governing documents of the ABL Credit Facility. The commitment fee at September 30, 2023 was 0.375%. We paid $0.8 million of commitment fees during the third quarter of 2023. 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 governing documents of the ABL Credit Facility. The fixed charge coverage ratio as of September 30, 2023 was 1.19 to 1.00. The governing documents of 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. As of September 30, 2023, we were in compliance with all requirements and conditions set forth in our ABL Credit Facility governing documents. The table below shows the scheduled maturity dates of our outstanding senior debt at September 30, 2023 for each of the years ending December 31: (in thousands) Term Loan Facility (1) 2023 $ — 2024 — 2025 — 2026 — 2027 — Thereafter 815,458 Total senior debt $ 815,458 (1) Annual installment requirements were reduced by the amount of the excess cash flow payment described above, in accordance with the terms of the credit agreement governing the Term Loan Facility.

Senior Notes

Senior Notes	9 Months Ended
	Sep. 30, 2023
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. 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 September 30, 2023, the total remaining balance of unamortized debt issuance costs related to our senior notes reported in the Condensed Consolidated Balance Sheets was approximately $10.6 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

Fair Value	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 and December 31, 2022, 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 September 30, 2023: September 30, 2023 (in thousands) Carrying Value Fair Value Difference Senior notes $ 450,000 $ 401,040 $ (48,960)

Other Charges

Other Charges	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Other Charges	Other Charges Acima Holdings Acquisition. 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, in accordance with ASC Topic 718, “Stock-based Compensation”. During the nine months ended September 30, 2023 and 2022, we recognized approximately $128.1 million and $111.5 million in stock compensation expense, respectively, related to these restricted stock agreements. See Note 11 for additional information. 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 nine months ended September 30, 2023 and 2022, we recognized approximately $42.8 million and $50.6 million in amortization expense, respectively, related to acquired intangible assets. We also recognized approximately $11.9 million in incremental depreciation expense related to acquired technology assets in both the nine months ended September 30, 2023 and 2022. During the nine months ended September 30, 2022, we recognized approximately $0.2 million in transaction costs associated with the closing of the transaction. Internally Developed Software Depreciation. During the third quarter of 2023, we completed initial development and began pilot testing a new internally developed point-of-sale system for our Rent-A-Center lease-to-own stores. We expect to fully deploy the new system across our lease-to-own store network during the first half of 2024, at which time our existing point-of-sale software will be retired. Therefore, in the third quarter of 2023, we accelerated the remaining useful lives of our existing point-of-sale software assets to align with the current deployment timeline of our new point-of-sale system, which resulted in the recognition of additional depreciation expense of $4.6 million for the three months ended September 30, 2023. Subsequent to September 30, 2023 we expect to recognize additional depreciation expense of $10.8 million over the remaining life of these assets. Activity with respect to Other charges for the nine months ended September 30, 2023 is summarized in the below table: (in thousands) Accrued Charges at December 31, 2022 Charges & Adjustments Payments & Adjustments Accrued Charges at September 30, 2023 Cash charges: Labor reduction costs (1) $ 2,202 $ — $ (2,202) $ — Total cash charges $ 2,202 — $ (2,202) $ — Non-cash charges: Acima Holdings restricted stock agreements (2) 128,128 Depreciation and amortization of acquired assets (3) 54,701 Accelerated software depreciation 4,609 Other (4) (3,025) Total other charges $ 184,413 (1) Represents charges incurred and payments related to 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 11. (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 in 2021. (4) Primarily represents interest income on tax refunds for prior years received in 2023.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
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 nine months ended September 30, 2023 and 2022 is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Revenues Rent-A-Center $ 453,632 $ 473,755 $ 1,404,831 $ 1,482,445 Acima 475,216 504,448 1,423,421 1,633,994 Mexico 19,642 16,041 55,526 48,454 Franchising 30,608 29,713 90,544 90,040 Total revenues $ 979,098 $ 1,023,957 $ 2,974,322 $ 3,254,933 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Gross profit Rent-A-Center $ 317,233 $ 334,892 $ 975,210 $ 1,046,332 Acima 159,427 152,434 474,258 481,742 Mexico 13,971 11,330 39,410 34,242 Franchising 6,535 6,879 20,778 21,857 Total gross profit $ 497,166 $ 505,535 $ 1,509,656 $ 1,584,173 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Operating profit Rent-A-Center $ 63,762 $ 71,999 $ 211,637 $ 271,283 Acima 58,124 48,885 175,103 94,318 Mexico 1,124 996 3,417 5,011 Franchising 3,541 5,077 13,280 15,170 Total segments 126,551 126,957 403,437 385,782 Corporate (1) (68,499) (89,880) (296,467) (279,582) Total operating profit $ 58,052 $ 37,077 $ 106,970 $ 106,200 (1) Includes stock compensation expense of $9.4 million and $128.1 million recognized for the three and nine months ended September 30, 2023 and $42.1 million and $111.5 million recognized for the three and nine months ended September 30, 2022, 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 11. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Depreciation and amortization Rent-A-Center $ 4,421 $ 4,629 $ 13,964 $ 15,665 Acima (1) 420 439 1,263 1,496 Mexico 345 182 880 494 Franchising 36 35 110 110 Total segments 5,222 5,285 16,217 17,765 Corporate (2) 7,402 7,513 21,885 22,443 Total depreciation and amortization $ 12,624 $ 12,798 $ 38,102 $ 40,208 (1) Excludes amortization expense of approximately $14.3 million and $42.8 million for the three and nine months ended September 30, 2023, compared to $14.2 million and $50.6 million for the three and nine months ended September 30, 2022, 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 9 for additional information. (2) Excludes depreciation expense of approximately $8.6 million and $16.5 million for both the three and nine months ended September 30, 2023, compared to $3.9 million and $11.9 million for the three and nine months ended September 30, 2022, recorded to Other charges in the Condensed Consolidated Statement of Operations, related to software acquired upon closing of the Acima Holdings acquisition and accelerated software depreciation. See Note 9 for additional information. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Capital expenditures Rent-A-Center $ 6,822 $ 10,714 $ 12,587 $ 30,917 Acima 121 16 203 205 Mexico 508 696 1,902 1,219 Franchising — 166 1 278 Total segments 7,451 11,592 14,693 32,619 Corporate 7,322 6,949 21,474 16,817 Total capital expenditures $ 14,773 $ 18,541 $ 36,167 $ 49,436 (in thousands) September 30, 2023 December 31, 2022 On rent rental merchandise, net Rent-A-Center $ 429,614 $ 465,095 Acima 517,302 503,795 Mexico 22,049 20,979 Total on rent rental merchandise, net $ 968,965 $ 989,869 (in thousands) September 30, 2023 December 31, 2022 Held for rent rental merchandise, net Rent-A-Center $ 111,311 $ 124,117 Acima 509 373 Mexico 10,673 10,469 Total held for rent rental merchandise, net $ 122,493 $ 134,959 (in thousands) September 30, 2023 December 31, 2022 Assets by segment Rent-A-Center $ 960,425 $ 1,067,875 Acima 1,172,466 1,198,879 Mexico 60,676 51,225 Franchising 19,192 18,194 Total segments 2,212,759 2,336,173 Corporate 413,316 427,446 Total assets $ 2,626,075 $ 2,763,619

Common Stock and Stock-Based Co

Common Stock and Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Stock-Based Compensation [Abstract]
Common Stock and Stock-Based Compensation	Common Stock and Stock-Based Compensation Stock Repurchase Program 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. During the nine months ended September 30, 2023 and 2022, we repurchased 916,269 and 1,218,313 shares of our common stock for an aggregate purchase price of approximately $27.1 million and $29.8 million, respectively. As of September 30, 2023, under the December 2021 Program approximately $258.0 million remains available for repurchases. Stock Based Compensation We recognized $6.2 million and $2.7 million in compensation expense related to stock awards issued under the Upbound Group, Inc. Amended 2021 Long-Term Incentive Plan (the “2021 Plan”) and 2016 Long-Term Incentive Plan (the “2016 Plan”) during the three months ended September 30, 2023 and 2022, and $18.6 million and $11.1 million during the nine months ended September 30, 2023 and 2022. During the nine months ended September 30, 2023, we granted 599,845 market-based performance units and 361,169 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 nine months ended September 30, 2023 was $32.30 and $26.34, respectively. In connection with the acquisition of Acima Holdings, LLC in 2021, we issued to the former owners of Acima Holdings 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” and recorded to Other charges in our unaudited Condensed Consolidated Statements of Operations. We recognized $9.4 million and $42.1 million in stock compensation expense related to these restricted stock agreements during the three months ended September 30, 2023 and 2022, and $128.1 million and $111.5 million during the nine months ended September 30, 2023 and 2022. Stock compensation expense recognized during the nine months ended September 30, 2023 for these restricted stock agreements included $78.4 million attributable to the acceleration of vesting provisions, primarily related to Aaron Allred's transition from Executive Vice President of Acima to an advisory role.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2023
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, Acima 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’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 was to determine whether Acima extends credit, offers leases, or otherwise offers or provides a consumer financial product or service and whether Acima complies with certain consumer financial protection laws. After the original CID, the CFPB issued subsequent CIDs requesting further information, documents and testimony. Acima has completed its responses to all CIDs and has been cooperating with the CFPB throughout their investigation. On May 16, 2023, in accordance with the CFPB’s Notice and Opportunity to Respond and Advise (“NORA”) process, the CFPB staff notified Acima that the staff may allege that Acima violated the Consumer Financial Protection Act of 2010; the Truth in Lending Act and its implementing regulation, Regulation Z; the Electronic Fund Transfer Act and its implementing regulation, Regulation E; and the Fair Credit Reporting Act and its implementing regulation, Regulation V. The CFPB staff further stated that the CFPB’s Office of Enforcement may recommend that the CFPB take legal action against Acima based on these potential allegations, and in connection therewith, the staff may seek remedies including restitution, disgorgement, damages, injunctive relief, and civil money penalties. On June 20, 2023, Acima submitted its response to the NORA notice, in which Acima asserted that the staff’s potential allegations lacked merit. As of the date of this report on Form 10-Q, we have not yet received the CFPB’s response to the NORA process and Acima’s submission. We are currently unable to predict the CFPB’s response to the NORA process or the ultimate timing or outcome of the CFPB investigation or any legal proceedings arising therefrom. On the terms and subject to the conditions set forth in the definitive agreement to acquire Acima, the former owners of Acima agreed to indemnify Upbound Group, Inc. for certain losses arising after the consummation of the transaction with respect to the CID. The indemnification obligations of the former owners of Acima with respect to the CID are limited to the remaining amount of an indemnity holdback which is now $45 million of a $50 million initial holdback for the CID and other matters, which was escrowed at the closing of the transaction, and will be Upbound Group, Inc.’s sole recourse against the former owners of Acima with respect to all of the indemnifiable claims under the definitive transaction agreement. In respect of the CID, other than with respect to any then-pending or unresolved claims for indemnification submitted by Upbound Group, Inc., remaining escrowed funds will be released 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. In the event there is not a final determination resolving the CFPB matter by February 17, 2024, any amounts in excess of our estimated losses may be released from the escrow holdback to the former owners of Acima. On May 19, 2023, in light of the above-referenced NORA notice, Upbound Group, Inc. submitted an indemnification claim notice pursuant to the definitive merger agreement with Acima. There can be no assurance 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’s business practices or operations that could materially and adversely affect our business, financial condition, results of operations or reputation. 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. No specific allegations have been made against Acima pursuant to the investigation. We are currently unable to predict the eventual scope, timing or outcome of this matter. New York Attorney General. The New York Attorney General (the “NYAG”) issued a subpoena to our Acima subsidiary in January 2020 seeking information with respect to various business practices in connection with Acima’s lease-to-own transactions. Acima received additional subpoenas from the NYAG in August 2021 and July 2023. Since receiving the subpoenas, we have cooperated with the NYAG in connection with its investigation. In March 2023, the NYAG provided Acima with an initial proposed assurance of discontinuance alleging violations of certain consumer laws and seeking injunctive provisions regarding certain business practices, compliance requirements and unspecified payment amounts for restitution and civil penalties. We are continuing to cooperate and discuss resolution of this matter with the NYAG. We are currently unable to predict the ultimate timing or outcome of the NYAG investigation.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Common Share	Earnings (Loss) Per Common Share Summarized basic and diluted earnings (loss) per common share were calculated as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2023 2022 2023 2022 Numerator: Net earnings (loss) $ 4,363 $ (5,778) $ 6,075 $ 9,710 Denominator: Weighted-average shares outstanding 55,485 55,380 55,294 54,376 Effect of dilutive stock awards (1) (2) 1,367 — 1,373 5,422 Weighted-average dilutive shares 56,852 55,380 56,667 59,798 Basic earnings (loss) per common share $ 0.08 $ (0.10) $ 0.11 $ 0.18 Diluted earnings (loss) per common share (1) (2) $ 0.08 $ (0.10) $ 0.11 $ 0.16 Anti-dilutive securities excluded from diluted earnings (loss) per common share: Anti-dilutive restricted share units 43 465 43 81 Anti-dilutive performance share units — 941 740 197 Anti-dilutive stock options 129 865 200 279 (1) Weighted-average dilutive shares outstanding for the nine months ended September 30, 2023 and 2022, includes approximately 0.4 million and 3.7 million common shares, respectively, issued in connection with the acquisition of Acima Holdings and subject to vesting conditions under restricted stock agreements. (2) There was no dilutive effect to the loss per common share for the three months ended September 30, 2022 due to the net loss incurred for the period.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 4,363	$ (45,618)	$ 47,330	$ (5,778)	$ 19,725	$ (4,237)	$ 6,075	$ 9,710

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Use of Estimates	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, including those related to recent macroeconomic trends or other factors, 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	Principles of Consolidation and Nature of Operations The financial statements included herein include the accounts of Upbound Group, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context indicates otherwise, references to “Upbound Group, Inc.” refer only to Upbound Group, Inc., the parent, and references to the “Company”, “we,” “us” and “our” refer to the consolidated business operations of Upbound Group and any or all of its direct and indirect subsidiaries. We report four operating segments: Rent-A-Center, Acima, Mexico, and Franchising. Our Rent-A-Center 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 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, and includes the operations of Acima Holdings and certain locations previously operating under our Preferred Lease brand, 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 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 Upbound Group, Inc., 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.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2023
Revenues [Abstract]
Disaggregation of Revenue	The following tables disaggregate our revenue for the periods ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Rent-A-Center Acima Mexico Franchising Consolidated (in thousands) Store Rentals and fees $ 413,051 $ 375,202 $ 18,513 $ — $ 806,766 Merchandise sales 26,819 99,857 888 — 127,564 Installment sales 13,444 — — — 13,444 Other 318 157 241 713 1,429 Total store revenues 453,632 475,216 19,642 713 949,203 Franchise Merchandise sales — — — 24,082 24,082 Royalty income and fees — — — 5,813 5,813 Total revenues $ 453,632 $ 475,216 $ 19,642 $ 30,608 $ 979,098 Nine Months Ended September 30, 2023 Rent-A-Center Acima Mexico Franchising Consolidated (in thousands) Store Rentals and fees $ 1,260,745 $ 1,107,943 $ 52,351 $ — $ 2,421,039 Merchandise sales 97,905 314,741 2,610 — 415,256 Installment sales 45,191 — — — 45,191 Other 990 737 565 2,130 4,422 Total store revenues 1,404,831 1,423,421 55,526 2,130 2,885,908 Franchise Merchandise sales — — — 69,778 69,778 Royalty income and fees — — — 18,636 18,636 Total revenues $ 1,404,831 $ 1,423,421 $ 55,526 $ 90,544 $ 2,974,322 Three Months Ended September 30, 2022 Rent-A-Center Acima Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 426,805 $ 387,488 $ 15,166 $ — $ 829,459 Merchandise sales 30,009 116,795 812 — 147,616 Installment sales 16,718 — — — 16,718 Other 223 165 63 889 1,340 Total store revenues 473,755 504,448 16,041 889 995,133 Franchise Merchandise sales — — — 22,823 22,823 Royalty income and fees — — — 6,001 6,001 Total revenues $ 473,755 $ 504,448 $ 16,041 $ 29,713 $ 1,023,957 Nine Months Ended September 30, 2022 Rent-A-Center Acima Mexico Franchising Consolidated (In thousands) Store Rentals and fees $ 1,305,871 $ 1,218,143 $ 45,790 $ — $ 2,569,804 Merchandise sales 123,255 415,465 2,545 — 541,265 Installment sales 52,355 — — — 52,355 Other 964 386 119 2,229 3,698 Total store revenues 1,482,445 1,633,994 48,454 2,229 3,167,122 Franchise Merchandise sales — — — 67,849 67,849 Royalty income and fees — — — 19,962 19,962 Total revenues $ 1,482,445 $ 1,633,994 $ 48,454 $ 90,040 $ 3,254,933

Receivables and Allowance for_2

Receivables and Allowance for Doubtful Accounts (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables and Allowance for Doubtful Accounts [Abstract]
Receivables	Receivables consist of the following: (in thousands) September 30, 2023 December 31, 2022 Installment sales receivables $ 62,236 $ 69,550 Trade and notes receivables (1) 55,656 55,529 Total receivables 117,892 125,079 Less allowance for doubtful accounts (2) (13,120) (13,214) Total receivables, net of allowance for doubtful accounts $ 104,772 $ 111,865 (1) Trade and notes receivables includes accrued revenue, adjusted for the probability of collection, related to our lease-to-own agreements of $29.9 million and $28.7 million at September 30, 2023 and December 31, 2022, respectively. (2) Lease receivables are accrued on a net basis, adjusted for the probability of collection based on our assessment of historical collection rates, as described above. Therefore, we do not maintain a separate allowance for doubtful accounts related to our lease receivables.
Changes in Allowance for Doubtful Accounts	Changes in our allowance for doubtful accounts are as follows: (in thousands) September 30, 2023 Beginning allowance for doubtful accounts $ 13,214 Bad debt expense (1) 17,533 Accounts written off, net of recoveries (17,627) Ending allowance for doubtful accounts $ 13,120 (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)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Operating Lease Costs	Total operating lease costs by expense type: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Operating lease cost included in Other store expenses (1)(2) $ 31,143 $ 31,100 $ 93,208 $ 93,365 Operating lease cost included in Other charges — 264 — 299 Sublease receipts (734) (1,642) (3,012) (5,700) Total operating lease charges $ 30,409 $ 29,722 $ 90,196 $ 87,964 (1) Includes short-term lease costs, which are not significant. (2) Excludes variable lease costs of $9.9 million and $29.0 million for the three and nine months ended September 30, 2023, respectively, compared to $9.4 million and $27.2 million for the three and nine months ended September 30, 2022, respectively. Supplemental cash flow information related to leases: Nine Months Ended September 30, (in thousands) 2023 2022 Cash paid for amounts included in measurement of operating lease liabilities $ 79,871 $ 77,780 Cash paid for short-term operating leases not included in operating lease liabilities 13,240 14,170 Right-of-use assets obtained in exchange for new operating lease liabilities 50,786 81,937 Weighted-average discount rate and weighted-average remaining lease term: September 30, 2023 December 31, 2022 Weighted-average discount rate (1) 7.6 % 7.0 % 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 September 30, 2023: (in thousands) Operating Leases 2023 $ 29,524 2024 103,277 2025 85,151 2026 59,870 2027 38,556 Thereafter 33,499 Total undiscounted operating lease liabilities 349,877 Less: Interest (50,368) Total present value of operating lease liabilities $ 299,509

Senior Debt (Tables)

Senior Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	The table below shows the scheduled maturity dates of our outstanding senior debt at September 30, 2023 for each of the years ending December 31: (in thousands) Term Loan Facility (1) 2023 $ — 2024 — 2025 — 2026 — 2027 — Thereafter 815,458 Total senior debt $ 815,458 (1) Annual installment requirements were reduced by the amount of the excess cash flow payment described above, in accordance with the terms of the credit agreement governing the Term Loan Facility.

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023: September 30, 2023 (in thousands) Carrying Value Fair Value Difference Senior notes $ 450,000 $ 401,040 $ (48,960)

Other Charges (Tables)

Other Charges (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Other Charges	Activity with respect to Other charges for the nine months ended September 30, 2023 is summarized in the below table: (in thousands) Accrued Charges at December 31, 2022 Charges & Adjustments Payments & Adjustments Accrued Charges at September 30, 2023 Cash charges: Labor reduction costs (1) $ 2,202 $ — $ (2,202) $ — Total cash charges $ 2,202 — $ (2,202) $ — Non-cash charges: Acima Holdings restricted stock agreements (2) 128,128 Depreciation and amortization of acquired assets (3) 54,701 Accelerated software depreciation 4,609 Other (4) (3,025) Total other charges $ 184,413 (1) Represents charges incurred and payments related to 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 11. (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 in 2021.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Information [Abstract]
Segment Information	Segment information as of and for the three and nine months ended September 30, 2023 and 2022 is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Revenues Rent-A-Center $ 453,632 $ 473,755 $ 1,404,831 $ 1,482,445 Acima 475,216 504,448 1,423,421 1,633,994 Mexico 19,642 16,041 55,526 48,454 Franchising 30,608 29,713 90,544 90,040 Total revenues $ 979,098 $ 1,023,957 $ 2,974,322 $ 3,254,933 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Gross profit Rent-A-Center $ 317,233 $ 334,892 $ 975,210 $ 1,046,332 Acima 159,427 152,434 474,258 481,742 Mexico 13,971 11,330 39,410 34,242 Franchising 6,535 6,879 20,778 21,857 Total gross profit $ 497,166 $ 505,535 $ 1,509,656 $ 1,584,173 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Operating profit Rent-A-Center $ 63,762 $ 71,999 $ 211,637 $ 271,283 Acima 58,124 48,885 175,103 94,318 Mexico 1,124 996 3,417 5,011 Franchising 3,541 5,077 13,280 15,170 Total segments 126,551 126,957 403,437 385,782 Corporate (1) (68,499) (89,880) (296,467) (279,582) Total operating profit $ 58,052 $ 37,077 $ 106,970 $ 106,200 (1) Includes stock compensation expense of $9.4 million and $128.1 million recognized for the three and nine months ended September 30, 2023 and $42.1 million and $111.5 million recognized for the three and nine months ended September 30, 2022, 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 11. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Depreciation and amortization Rent-A-Center $ 4,421 $ 4,629 $ 13,964 $ 15,665 Acima (1) 420 439 1,263 1,496 Mexico 345 182 880 494 Franchising 36 35 110 110 Total segments 5,222 5,285 16,217 17,765 Corporate (2) 7,402 7,513 21,885 22,443 Total depreciation and amortization $ 12,624 $ 12,798 $ 38,102 $ 40,208 (1) Excludes amortization expense of approximately $14.3 million and $42.8 million for the three and nine months ended September 30, 2023, compared to $14.2 million and $50.6 million for the three and nine months ended September 30, 2022, 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 9 for additional information. (2) Excludes depreciation expense of approximately $8.6 million and $16.5 million for both the three and nine months ended September 30, 2023, compared to $3.9 million and $11.9 million for the three and nine months ended September 30, 2022, recorded to Other charges in the Condensed Consolidated Statement of Operations, related to software acquired upon closing of the Acima Holdings acquisition and accelerated software depreciation. See Note 9 for additional information. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Capital expenditures Rent-A-Center $ 6,822 $ 10,714 $ 12,587 $ 30,917 Acima 121 16 203 205 Mexico 508 696 1,902 1,219 Franchising — 166 1 278 Total segments 7,451 11,592 14,693 32,619 Corporate 7,322 6,949 21,474 16,817 Total capital expenditures $ 14,773 $ 18,541 $ 36,167 $ 49,436 (in thousands) September 30, 2023 December 31, 2022 On rent rental merchandise, net Rent-A-Center $ 429,614 $ 465,095 Acima 517,302 503,795 Mexico 22,049 20,979 Total on rent rental merchandise, net $ 968,965 $ 989,869 (in thousands) September 30, 2023 December 31, 2022 Held for rent rental merchandise, net Rent-A-Center $ 111,311 $ 124,117 Acima 509 373 Mexico 10,673 10,469 Total held for rent rental merchandise, net $ 122,493 $ 134,959 (in thousands) September 30, 2023 December 31, 2022 Assets by segment Rent-A-Center $ 960,425 $ 1,067,875 Acima 1,172,466 1,198,879 Mexico 60,676 51,225 Franchising 19,192 18,194 Total segments 2,212,759 2,336,173 Corporate 413,316 427,446 Total assets $ 2,626,075 $ 2,763,619

Earnings (Loss) Per Common Sh_2

Earnings (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Common Share	Summarized basic and diluted earnings (loss) per common share were calculated as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2023 2022 2023 2022 Numerator: Net earnings (loss) $ 4,363 $ (5,778) $ 6,075 $ 9,710 Denominator: Weighted-average shares outstanding 55,485 55,380 55,294 54,376 Effect of dilutive stock awards (1) (2) 1,367 — 1,373 5,422 Weighted-average dilutive shares 56,852 55,380 56,667 59,798 Basic earnings (loss) per common share $ 0.08 $ (0.10) $ 0.11 $ 0.18 Diluted earnings (loss) per common share (1) (2) $ 0.08 $ (0.10) $ 0.11 $ 0.16 Anti-dilutive securities excluded from diluted earnings (loss) per common share: Anti-dilutive restricted share units 43 465 43 81 Anti-dilutive performance share units — 941 740 197 Anti-dilutive stock options 129 865 200 279 (1) Weighted-average dilutive shares outstanding for the nine months ended September 30, 2023 and 2022, includes approximately 0.4 million and 3.7 million common shares, respectively, issued in connection with the acquisition of Acima Holdings and subject to vesting conditions under restricted stock agreements. (2) There was no dilutive effect to the loss per common share for the three months ended September 30, 2022 due to the net loss incurred for the period.

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	4

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Rentals and fees	$ 806,766	$ 829,459	$ 2,421,039	$ 2,569,804
Merchandise sales	127,564	147,616	415,256	541,265
Installment sales	13,444	16,718	45,191	52,355
Other	1,429	1,340	4,422	3,698
Total store revenues	949,203	995,133	2,885,908	3,167,122
Merchandise sales	24,082	22,823	69,778	67,849
Royalty income and fees	5,813	6,001	18,636	19,962
Total revenues	979,098	1,023,957	2,974,322	3,254,933
Rental purchase agreements [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	56,600		56,600		$ 54,900
Other product plans [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	1,200		1,200		2,000
Franchise fees [Member]
Disaggregation of Revenue [Line Items]
Deferred revenue	3,100		3,100		$ 3,400
Rent-A-Center Business
Disaggregation of Revenue [Line Items]
Rentals and fees	413,051	426,805	1,260,745	1,305,871
Merchandise sales	26,819	30,009	97,905	123,255
Installment sales	13,444	16,718	45,191	52,355
Other	318	223	990	964
Total store revenues	453,632	473,755	1,404,831	1,482,445
Merchandise sales	0	0	0	0
Royalty income and fees	0	0	0	0
Total revenues	453,632	473,755	1,404,831	1,482,445
Acima
Disaggregation of Revenue [Line Items]
Rentals and fees	375,202	387,488	1,107,943	1,218,143
Merchandise sales	99,857	116,795	314,741	415,465
Installment sales	0	0	0	0
Other	157	165	737	386
Total store revenues	475,216	504,448	1,423,421	1,633,994
Merchandise sales	0	0	0	0
Royalty income and fees	0	0	0	0
Total revenues	475,216	504,448	1,423,421	1,633,994
Mexico
Disaggregation of Revenue [Line Items]
Rentals and fees	18,513	15,166	52,351	45,790
Merchandise sales	888	812	2,610	2,545
Installment sales	0	0	0	0
Other	241	63	565	119
Total store revenues	19,642	16,041	55,526	48,454
Merchandise sales	0	0	0	0
Royalty income and fees	0	0	0	0
Total revenues	19,642	16,041	55,526	48,454
Franchising
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	713	889	2,130	2,229
Total store revenues	713	889	2,130	2,229
Merchandise sales	24,082	22,823	69,778	67,849
Royalty income and fees	5,813	6,001	18,636	19,962
Total revenues	$ 30,608	$ 29,713	$ 90,544	$ 90,040

Receivables and Allowance for_3

Receivables and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Receivables [Line Items]
Interest paid on installment agreements	$ 8,700	$ 9,200
Gross receivables	117,892		$ 125,079
Total receivables, net of allowance for doubtful accounts	104,772		111,865
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Less allowance for doubtful accounts	(13,120)		(13,214)
Bad debt expense	17,533
Accounts written off, net of recoveries	(17,627)
Installment sales receivable [Member]
Receivables [Line Items]
Gross receivables	62,236		69,550
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Less allowance for doubtful accounts	(12,000)		(12,000)
Trade and notes receivables [Member]
Receivables [Line Items]
Gross receivables	55,656		55,529
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Less allowance for doubtful accounts	(1,100)		(1,200)
Notes Receivable
Receivables [Line Items]
Accrued Revenue	$ 29,900		$ 28,700

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Term of contract	5 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Renewal term	3 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Renewal term	5 years

Leases - Lease by Type (Details

Leases - Lease by Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease charges	$ 30,409	$ 29,722	$ 90,196	$ 87,964
Sublease receipts	$ (734)	(1,642)	(3,012)	(5,700)
Cash paid for amounts included in measurement of operating lease liabilities			79,871	77,780
Cash paid for short-term operating leases not included in operating lease liabilities			13,240	14,170
Right-of-use assets obtained in exchange for new operating lease liabilities			$ 50,786	81,937
Weighted-average discount rate	7.60%		7.60%		7%
Weighted average remaining lease term (in years)	4 years		4 years		4 years
Variable lease cost	$ 9,900	9,400	$ 29,000	27,200
Other store expenses [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges	31,143	31,100	93,208	93,365
Other charges [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges	$ 0	$ 264	$ 0	$ 299

Leases - Reconciliation (Detail

Leases - Reconciliation (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023	$ 29,524
2024	103,277
2025	85,151
2026	59,870
2027	38,556
Thereafter	33,499
Total undiscounted operating lease liabilities	349,877
Less: Interest	(50,368)
Operating lease liabilities	$ 299,509	$ 305,556

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	76.10%	78.70%
Goodwill amortization period	15 years

Senior Debt (Details)

Senior Debt (Details) - USD ($)				1 Months Ended	3 Months Ended	9 Months Ended
	Jul. 31, 2023	Sep. 21, 2021	Feb. 17, 2021	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Original issue discount			$ 4,400,000
Debt issuance costs			30,200,000
Letters of credit, amount outstanding					$ 64,400,000	$ 64,400,000
Repayments of secured debt						$ 134,229,000	$ 296,563,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage						0.375%
Line of credit commitment fee					800,000
Write-off of debt financing fees		$ 5,400,000
Debt Issuance Costs [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense					13,400,000	$ 13,400,000
Original Issue Discount [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense					$ 2,100,000	$ 2,100,000
Term loan credit
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					8.881%	8.881%
2023					$ 0	$ 0
2024					0	0
2025					0	0
2026					0	0
2027					0	0
Thereafter					815,458,000	815,458,000
Senior debt, net					$ 815,458,000	$ 815,458,000
Term loan credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Decrease to basis spread on variable rate		0.25%
Term loan credit | Eurodollar
Debt Instrument [Line Items]
Decrease to basis spread on variable rate		0.75%
Term loan credit | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Increase to basis spread on variable rate	0.26%
Basis margin on variable rate						3.51%
Term loan credit | Secured Overnight Financing Rate (SOFR) Floor
Debt Instrument [Line Items]
Basis margin on variable rate						0.50%
Term loan credit | Debt Issuance Costs [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense			$ 25,300,000
ABL credit facility | ABL credit facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Term			5 years
Maximum borrowing capacity			$ 125,000,000
Percent of line cap					15%
Line of Credit Facility, Covenant Compliance, Remaining Borrowing Capacity, Maximum					$ 56,250,000	$ 56,250,000
ABL credit facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 150,000,000
Term Loan Facility | Secured Debt
Debt Instrument [Line Items]
Debt Instrument, Term			7 years
Interest rate, stated percentage					1%	1%
Consolidated secured leverage ratio						100%
Repayments of secured debt				$ 42,600,000
Accrued interest				$ 600,000
Incremental term loans available			$ 500,000,000
ABL credit facility [Member]
Debt Instrument [Line Items]
Revolving credit facility commitments			$ 550,000,000
ABL Credit Facility amount available					$ 485,600,000	$ 485,600,000
Debt Instrument, Maturity Date						Feb. 17, 2026
Actual margin on variable rate					7.52%	7.52%
Required consolidated fixed charge coverage ratio, minimum					1.10	1.10
Actual fixed charge coverage ratio					1.19	1.19
Senior debt, net					$ 0	$ 0
Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage						0.375%
Maximum [Member] | Term loan credit | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis margin on variable rate			0.75%
Maximum [Member] | Term loan credit | Eurodollar
Debt Instrument [Line Items]
Basis margin on variable rate			4%
Maximum [Member] | ABL credit facility [Member] | Secured Overnight Financing Rate (SOFR)
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 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis margin on variable rate		0.50%
Minimum [Member] | Term loan credit | Eurodollar
Debt Instrument [Line Items]
Basis margin on variable rate		3.25%
Minimum [Member] | Term loan credit | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis margin on variable rate	3.51%					3.25%
Minimum [Member] | ABL credit facility [Member] | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis margin on variable rate						1.50%

Senior Notes (Details)

Senior Notes (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Feb. 17, 2021
The Notes | Senior Notes [Member]
Senior Notes [Line Items]
Additional percentage of principal amount redeemed	100%
Percentage of principal amount purchased	101%
Senior Notes [Member]
Senior Notes [Line Items]
Initial borrowing in senior notes	$ 450,000	$ 450,000
Unamortized Debt Issuance Expense	$ 10,600	$ 15,700
Debt Instrument, Redemption Price, Percentage	106.375%
Interest rate, stated percentage		6.375%
Senior note redemption price, percent	40%

Fair Value (Details)

Fair Value (Details) - Senior Notes [Member] - USD ($) $ in Thousands	Sep. 30, 2023	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	401,040
Difference	$ (48,960)

Other Charges (Details)

Other Charges (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Feb. 17, 2021	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Depreciation of property assets					$ 53,894	$ 51,384
Charges & Adjustments					0
Accrued Charges		$ 0			0		$ 2,202
Payments & Adjustments					(2,202)
Stock-based compensation expense					146,724	122,621
Depreciation and amortization		12,624	$ 12,798		38,102	40,208
Other charges		29,057	61,619		184,413	185,435
Non-Cash Charges [Member]
Restructuring Cost and Reserve [Line Items]
Depreciation of property assets		8,600	3,900		16,500	11,900
Stock-based compensation expense					128,128
Other					(3,025)
Software [Member] | Non-Cash Charges [Member]
Restructuring Cost and Reserve [Line Items]
Depreciation and amortization		4,600			4,609
Software [Member] | Non-Cash Charges [Member] | Subsequent Event [Member]
Restructuring Cost and Reserve [Line Items]
Depreciation and amortization				$ 10,800
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Charges & Adjustments					0
Accrued Charges		0			0		$ 2,202
Payments & Adjustments					(2,202)
Acima Holdings
Restructuring Cost and Reserve [Line Items]
Stock consideration, shares	10,779,923
Other intangible assets	$ 520,000
Depreciation of property assets					11,900	11,900
Amortization		14,300	14,200		42,800	50,600
Stock-based compensation expense		$ 9,400	$ 42,100		128,100	$ 111,500
Acima Holdings | Non-Cash Charges [Member]
Restructuring Cost and Reserve [Line Items]
Depreciation and amortization					$ 54,701
Acima Holdings | Restricted Stock Units [Member]
Restructuring Cost and Reserve [Line Items]
Stock consideration, shares	8,096,595				400,000	3,700,000
Stock consideration, value	$ 414,100
Award vesting period	36 months
Acima Holdings | Software [Member]
Restructuring Cost and Reserve [Line Items]
Property assets	$ 170,000
Acima Holdings | Transaction costs [Member]
Restructuring Cost and Reserve [Line Items]
Charges & Adjustments						$ 200

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 979,098	$ 1,023,957	$ 2,974,322	$ 3,254,933
Gross profit	497,166	505,535	1,509,656	1,584,173
Operating (Ioss) profit	58,052	37,077	106,970	106,200
Depreciation and amortization	12,624	12,798	38,102	40,208
Capital expenditures	14,773	18,541	36,167	49,436
On rent	968,965		968,965		$ 989,869
Held for rent	122,493		122,493		134,959
Assets	2,626,075		2,626,075		2,763,619
Depreciation of property assets			53,894	51,384
Stock-based compensation expense			146,724	122,621
Non-Cash Charges [Member]
Segment Reporting Information [Line Items]
Depreciation of property assets	8,600	3,900	16,500	11,900
Stock-based compensation expense			128,128
Acima Holdings
Segment Reporting Information [Line Items]
Amortization	14,300	14,200	42,800	50,600
Depreciation of property assets			11,900	11,900
Stock-based compensation expense	9,400	42,100	128,100	111,500
Rent-A-Center Business
Segment Reporting Information [Line Items]
Total revenues	453,632	473,755	1,404,831	1,482,445
Gross profit	317,233	334,892	975,210	1,046,332
On rent	429,614		429,614		465,095
Held for rent	111,311		111,311		124,117
Acima
Segment Reporting Information [Line Items]
Total revenues	475,216	504,448	1,423,421	1,633,994
Gross profit	159,427	152,434	474,258	481,742
On rent	517,302		517,302		503,795
Held for rent	509		509		373
Mexico
Segment Reporting Information [Line Items]
Total revenues	19,642	16,041	55,526	48,454
Gross profit	13,971	11,330	39,410	34,242
On rent	22,049		22,049		20,979
Held for rent	10,673		10,673		10,469
Franchising
Segment Reporting Information [Line Items]
Total revenues	30,608	29,713	90,544	90,040
Gross profit	6,535	6,879	20,778	21,857
Operating segments
Segment Reporting Information [Line Items]
Operating (Ioss) profit	126,551	126,957	403,437	385,782
Depreciation and amortization	5,222	5,285	16,217	17,765
Capital expenditures	7,451	11,592	14,693	32,619
Assets	2,212,759		2,212,759		2,336,173
Operating segments | Rent-A-Center Business
Segment Reporting Information [Line Items]
Operating (Ioss) profit	63,762	71,999	211,637	271,283
Depreciation and amortization	4,421	4,629	13,964	15,665
Capital expenditures	6,822	10,714	12,587	30,917
Assets	960,425		960,425		1,067,875
Operating segments | Acima
Segment Reporting Information [Line Items]
Operating (Ioss) profit	58,124	48,885	175,103	94,318
Depreciation and amortization	420	439	1,263	1,496
Capital expenditures	121	16	203	205
Assets	1,172,466		1,172,466		1,198,879
Operating segments | Mexico
Segment Reporting Information [Line Items]
Operating (Ioss) profit	1,124	996	3,417	5,011
Depreciation and amortization	345	182	880	494
Capital expenditures	508	696	1,902	1,219
Assets	60,676		60,676		51,225
Operating segments | Franchising
Segment Reporting Information [Line Items]
Operating (Ioss) profit	3,541	5,077	13,280	15,170
Depreciation and amortization	36	35	110	110
Capital expenditures	0	166	1	278
Assets	19,192		19,192		18,194
Corporate, non-segment
Segment Reporting Information [Line Items]
Operating (Ioss) profit	(68,499)	(89,880)	(296,467)	(279,582)
Depreciation and amortization	7,402	7,513	21,885	22,443
Capital expenditures	7,322	$ 6,949	21,474	$ 16,817
Assets	$ 413,316		$ 413,316		$ 427,446

Common Stock and Stock-Based _2

Common Stock and Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Feb. 17, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 146,724	$ 122,621
Performance-based restricted stock units granted (in shares)				599,845
Time-vesting restricted stock units granted (in shares)				361,169
Purchase of treasury stock		$ 27,151	$ 29,797
Share Repurchase 500 Million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount		500,000		$ 500,000
Shares repurchased (in shares)				916,269	1,218,313
Purchase of treasury stock				$ 27,100	$ 29,800
Remaining Authorized Repurchase Amount		258,000		258,000
Acima Holdings
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		9,400	42,100	128,100	$ 111,500
Stock consideration, shares	10,779,923
Common stock price (in dollars per share)	$ 51.14
Share-Based Payment Arrangement, Accelerated Cost				$ 78,400
Acima Holdings | Share-based Payment Arrangement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock consideration, shares	2,683,328
Acima Holdings | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock consideration, shares	8,096,595			400,000	3,700,000
Stock consideration, value	$ 414,100
2021 and 2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 6,200	$ 2,700	$ 18,600	$ 11,100
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 (in dollars per share)				$ 26.34
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 (in dollars per share)				$ 32.30

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2023	Oct. 01, 2020
Indemnification Agreement
Loss Contingencies [Line Items]
Escrowed indemnity amount	$ 45	$ 50

Earnings (Loss) Per Common Sh_3

Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended						9 Months Ended
	Feb. 17, 2021	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Common Share
Net earnings (loss)		$ 4,363	$ (45,618)	$ 47,330	$ (5,778)	$ 19,725	$ (4,237)	$ 6,075	$ 9,710
Weighted-average shares outstanding		55,485,000			55,380,000			55,294,000	54,376,000
Effect of dilutive stock awards		1,367,000			0			1,373,000	5,422,000
Weighted-average dilutive shares		56,852,000			55,380,000			56,667,000	59,798,000
Basic earnings (loss) per common share		$ 0.08			$ (0.10)			$ 0.11	$ 0.18
Diluted earnings (loss) per common share(1) (2)		$ 0.08			$ (0.10)			$ 0.11	$ 0.16
Acima Holdings
Earnings Per Common Share
Stock consideration, shares	10,779,923
Restricted Stock Units [Member] | Acima Holdings
Earnings Per Common Share
Stock consideration, shares	8,096,595							400,000	3,700,000
Retained Earnings
Earnings Per Common Share
Net earnings (loss)		$ 4,363	$ (45,618)	$ 47,330	$ (5,778)	$ 19,725	$ (4,237)
Performance-based restricted stock units [Member]
Earnings Per Common Share
Anti-dilutive securities		0			941,000			740,000	197,000
Stock options [Member]
Earnings Per Common Share
Anti-dilutive securities		129,000			865,000			200,000	279,000
Restricted share units [Member]
Earnings Per Common Share
Anti-dilutive securities		43,000			465,000			43,000	81,000